Tinubu promises support as Ogun signs port deal in Paris

President Bola Tinubu has promised both local and foreign investors that the federal government will keep providing clear rules, stable policies, and a reliable business environment to support long-term investments in Nigeria.

The president spoke in Paris, France, during the signing of agreements between the Ogun State Government and DP World, a top global ports and logistics company. They plan to develop the Ogun State Blue Marine Special Economic Zone and the Gateway Deep Seaport.

Governor Dapo Abiodun led the Ogun State delegation at the signing event. The team included the Secretary to the State Government, Tokunbo Talabi, and Commissioners from Finance, Works, Industry, Trade and Investment, Transport, along with a representative from the host community.

Also present were the Minister of Marine and Blue Economy, Adegboyega Oyetola; Nigeria’s Ambassador to France, Ayodele Oke; Managing Director and CEO of the Nigerian Ports Authority, Abubakar Dantsoho; Group CEO of DP World, Yuvraj Narayan; Managing Director of SkyKapital, Karim Noujaim; and Senior VP for Business Development, Sub-Saharan Africa Regional Office, DP World, Mohammed Ismail.

“The agreements before us bring together vision, expertise, capital and execution capacity. I particularly welcome DP World, one of the world’s leading port and logistics operators. I also acknowledge our financial advisers, Sky Capital, and all the investors and partners whose commitment has brought us to this important stage,” the president said.

President Tinubu assured investors that the federal government would give the necessary support to move the projects from agreements to actual work. He also said the government would ensure all parties stick to their promises. He called the agreements a key step in Nigeria’s goal to attract foreign investment, boost productivity, and make the country a major centre for maritime trade, logistics, manufacturing, and exports.

The proposed port at Ogun Waterside will have a four-kilometre berth and an 18-metre draft. This will help reduce congestion in the Lagos port area, lessen the burden on Apapa and Tin Can Island ports, and cut costs and delays for importers, exporters, and consumers.

It will accommodate larger vessels that support global trade and offer a competitive gateway for the African Continental Free Trade Area. This positions Nigeria to serve a market of about 1.4 billion people.

The Ogun State Blue Marine Special Economic Zone is planned to cover 10,000 hectares.

“These agreements foresee an initial investment of more than $7 billion in the Nigerian economy. When fully developed, these projects are expected to create over 50,000 direct jobs and many more indirect jobs, while generating significant non-oil export earnings from Nigerians’ creativity and productivity across the value chain.

“This is economic diversification made tangible. This is industrialisation made visible. This is Renewed Hope in action. I commend Governor Dapo Abiodun, and the Government and people of Ogun State, for securing the land, structuring the investment framework, and reducing project risks for global investors.

“This is cooperative federalism as our Constitution envisions: a subnational vision supported by federal facilitation.

“We will facilitate road, rail, and power connections; strengthen investment security and our maritime domain; and remove unnecessary bureaucratic obstacles,” the president said.

The president mentioned that the Ogun State Blue Marine Special Economic Zone is already attracting interest from top global manufacturing and industrial companies.

“Within the zone, imported materials will be turned into finished products, Nigerian raw materials will be processed for export, and importantly, our young people will find decent, productive, and sustainable jobs.

“The Gateway Deep Seaport is the crucial infrastructure that will support the zone’s success. A port moves cargo; a port linked with a special economic zone helps to build an economy. Each one supports the other,” he said.

President Tinubu said the federal government will keep working with Ogun State and other local governments to eliminate unnecessary hurdles and promote investments that benefit Nigerians while following the country’s laws and rules.

He stated that strengthening the maritime economy is a key part of the federal government’s wider strategy for economic diversification. He urged the Ogun State Government and investors to keep the momentum from the signing and move quickly to start implementation.

“Nigeria is at the heart of West African trade. Yet, our strategic advantage has been limited by port congestion, low draft capacity, and logistics issues that raise the cost of doing business. These projects are a direct response to those problems.

“This is how modern infrastructure should be built: as an integrated system, operated to world-class standards, and backed by a serious government. This is nation-building in its most practical form.

“The Lagos, Calabar Coastal Highway is central to the commercial success of this corridor. The 28-kilometre Ogun State section of this 700-kilometre road, expected to be finished by the end of this year, will provide a key transport link for the zone and port.

“With it, the zone and port will connect more effectively to Lagos, the Nigerian hinterland, and markets across Africa.

“These projects will also create a wider strategic corridor near the planned Nigerian Navy Operating Base and Dockyard and the OK LNG Project, linking this industrial area to our energy and gas-export goals,” the president noted.