Tinubu witnesses Ogun and DP World sign $7 billion agreements for Deep Seaport and Blue Marine SEZ

The Ogun State Government and DP World MEA FZE have signed agreements for the development of the Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone. These projects are expected to bring in over $7 billion in investments and create more than 50,000 direct jobs.

President Bola Ahmed Tinubu was present for the signing in Paris, France. He was joined by the Minister of Marine and Blue Economy, Adegboyega Oyetola, and the Director-General of the Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho. Kayode Akinmade, Special Adviser to Ogun State on Information and Strategy, shared this information in a statement on Thursday.

These agreements involve the Federal Government, Ogun State Government, DP World, financial advisers, and other private-sector partners. They aim to address trade issues, improve logistics, and boost Nigeria’s manufacturing and export capabilities.

Tinubu mentioned that the two projects would tackle long-standing problems in infrastructure and logistics. He said they would create a platform for industrial production, maritime trade, and access to both African and global markets.

"We are doing more than signing agreements; we are laying the foundation for a new chapter in Nigeria’s development," the President stated.

The Gateway Deep Sea Port, planned for Ogun Waterside, will have a four-kilometre berth and an 18-metre draft. This will allow it to handle larger ships, reduce congestion at the Lagos port, and cut costs and delays for importers and exporters.

The port will connect with the proposed 10,000-hectare Blue Marine Special Economic Zone. This zone is expected to support industries focused on manufacturing, processing, and export.

Tinubu said this zone would allow imported materials to be turned into finished goods and Nigerian raw materials to be processed for export. This will help to expand the country’s non-oil export base.

"A port moves cargo; a port integrated with a special economic zone helps to build an economy," he explained.

The President noted that the 28-kilometre Ogun section of the Lagos-Calabar Coastal Highway would link the port to the industrial zone, Lagos, and other African markets. He added that this corridor would connect with other key projects, including the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project. This would strengthen ties between maritime infrastructure, industry, energy, and trade.

Tinubu said the projects represent an initial investment of over $7 billion and are expected to create more than 50,000 direct jobs, along with other indirect job opportunities. He called this investment a clear step toward economic diversification and industrialization under the Renewed Hope Agenda.

The President praised Ogun State Governor, Prince Dapo Abiodun, for securing the land, organizing the investment framework, and lowering project risks for investors. He described the development as an example of how federal and state governments can work together.

Tinubu assured investors of clear rules and stable policies, promising federal support for roads, railways, and power connections. He emphasized that the Federal Government would ensure that all parties stick to their commitments, stressing that the agreements must lead to real investments, projects, jobs, and economic chances.

Earlier, Governor Abiodun called the signing a key moment in Ogun State's economic history and Nigeria’s place in the global economy. He credited President Tinubu for reviving the long-held vision of a deep seaport along the Ogun coast, which has not been realized for over thirty years.

“It has taken the foresight, courage and dogged leadership of President Bola Ahmed Tinubu to move it from aspiration to reality,” the governor said. He thanked Oyetola, the NPA, and other federal bodies for their support, saying the project shows how the Federal Government’s Renewed Hope Agenda aligns with Ogun’s Building Our Future Together agenda.

Abiodun said the deep seaport is part of a larger plan to promote trade, attract investment, and improve Nigeria’s maritime economy.

“Our ambition is not merely to berth ships. We are building a gateway for Ogun and Nigeria’s productive strength to reach Africa and the world,” he added.

The governor said this project would boost small and medium enterprises, improve supply chains, and create opportunities across maritime services, logistics, manufacturing, and technology. He also mentioned the Blue Marine Special Economic Zone as a space for investment, innovation, and talent. He pointed to DP World’s Jebel Ali Free Zone as a good example of what can happen when ports and economic zones work together.

Abiodun said the development would connect to a larger infrastructure network that includes the Gateway International Airport, dry ports, the coastal highway, and the deep seaport.

“History will judge us not by the elegance of documents signed, but by the transformation that follows. Ceremonies proclaim intentions; only implementation creates prosperity,” the governor stated.

He assured DP World and other partners that Ogun is ready for business, partnership, and results. He stressed the need for community involvement, environmental care, and security.

This signing is a significant step in the revival of Ogun’s coastal development plans and the state’s goal to use its strategic location for industrialization, logistics, and international trade.