Ogun, DP World Seal $7bn Deep Seaport, Blue Marine SEZ Deals

Stanley Ihedigbo

Ogun State Government and DP World MEA FZE have signed Memoranda of Understanding (MoUs) for the development of the Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone, with the projects expected to attract more than $7 billion in initial investment and generate over 50,000 direct jobs.

President Bola Ahmed Tinubu witnessed the signing ceremony in Paris, France, alongside the Minister of Marine and Blue Economy, Adegboyega Oyetola, and the Director-General of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho.

The agreements bring together the Federal Government, Ogun State Government, DP World, financial advisers and other private-sector partners in an investment framework designed to ease trade bottlenecks, strengthen logistics and expand Nigeria’s manufacturing and export capacity.

President Tinubu described the agreements as a significant step towards addressing Nigeria’s longstanding infrastructure and logistics challenges while creating an integrated platform for industrial production, maritime commerce and access to 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 said.

The Gateway Deep Sea Port, planned for Ogun Waterside, will feature a four-kilometre berth and an 18-metre draft. The facility is expected to accommodate larger vessels, decongest the Lagos port corridor and reduce costs and delays for importers and exporters.

The port will be integrated with the proposed 10,000-hectare Blue Marine Special Economic Zone, which is expected to support manufacturing, processing and export-oriented industries.

According to President Tinubu, the integration of the port and economic zone will enable imported inputs to be transformed into finished products while Nigerian raw materials can be processed for export, thereby supporting the expansion of the country’s non-oil export base.

“A port moves cargo; a port integrated with a special economic zone helps to build an economy,” Tinubu said.

The President also identified the 28-kilometre Ogun section of the Lagos-Calabar Coastal Highway as a critical link between the proposed port and industrial zone, Lagos, the Nigerian hinterland and wider African markets.

He said the emerging corridor would complement other strategic investments, including the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project, strengthening the connection between maritime infrastructure, industry, energy and trade.

Tinubu said the projects represent an initial investment of more than $7 billion and are projected to create over 50,000 direct jobs, in addition to further indirect employment opportunities.

He described the development as a practical demonstration of economic diversification and industrialisation under the Renewed Hope Agenda.

The President commended Ogun State Governor, Prince Dapo Abiodun, for securing the land, structuring the investment framework and reducing project risks for investors.

He described the initiative as an example of cooperative federalism, with the state government’s initiative receiving support from the Federal Government.

Tinubu assured investors of regulatory clarity and policy stability, pledging federal support for road, rail and power connectivity, investment security and the maritime domain.

He also stressed that the Federal Government would hold all parties accountable for their commitments, noting that the agreements must translate into actual investments, completed projects, jobs and economic opportunities.

Abiodun: Ogun Deep Seaport a defining moment

Earlier, Governor Dapo Abiodun described the signing as a defining moment in the economic history of Ogun State and Nigeria’s engagement with the global economy.

Abiodun credited President Tinubu with providing the political leadership that had revived the long-standing vision for a deep seaport along the Ogun coastline, noting that the project had remained largely unrealised for more than three decades.

“It has taken the foresight, courage and dogged leadership of President Bola Ahmed Tinubu to move it from aspiration to reality,” the governor said.

The governor commended the Minister of Marine and Blue Economy, Adegboyega Oyetola, the NPA and other federal institutions for their support, saying the project demonstrated alignment between the Federal Government’s Renewed Hope Agenda and Ogun State’s Building Our Future Together agenda.

According to Abiodun, the deep seaport forms part of a broader strategy to deepen trade, attract investment, improve connectivity and strengthen 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 said.

He said the project would stimulate small and medium-sized enterprises, strengthen supply chains, expand export capacity, attract foreign direct investment and create opportunities across maritime services, logistics, manufacturing and technology.

The governor also highlighted the proposed Blue Marine Special Economic Zone as a platform for capital, technology, innovation and talent, citing DP World’s Jebel Ali Free Zone as an example of the potential benefits of integrating ports, logistics and special economic zones.

Abiodun said the development would form part of a wider multimodal infrastructure network incorporating the Gateway International Airport, dry ports, the Lagos-Calabar Coastal Highway and the proposed 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 said.

He assured DP World and other partners that Ogun State was ready for business, partnership and delivery, while stressing the importance of host-community participation, environmental sustainability and security.

The signing marks a major step in the revival of Ogun State’s long-standing coastal development ambitions and its efforts to leverage its strategic location to drive industrialisation, logistics, manufacturing and international trade.