The Ogun State Government and global ports and logistics company, DP World MEA FZE, have signed Memoranda of Understanding for the development of the Gateway Deep Seaport and the Ogun State Blue Marine Special Economic Zone, with the projects expected to attract more than $7 billion in initial investment and create over 50,000 direct jobs.
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The agreements were signed in Paris, France, in the presence of President Bola Tinubu, Ogun State Governor Dapo Abiodun, Minister of Marine and Blue Economy Adegboyega Oyetola, Managing Director and Chief Executive Officer of the Nigerian Ports Authority, Dr Abubakar Dantsoho, and senior representatives of DP World and other project partners.
The investment framework brings together the Ogun State Government, the Federal Government, DP World, financial advisers and other private-sector partners in an effort to create an integrated maritime, industrial and logistics corridor that could ease pressure on existing ports, improve trade connectivity and expand Nigeria’s manufacturing and export capacity.
Speaking at the signing ceremony, Tinubu said the projects were designed to address longstanding problems of port congestion, inadequate draft capacity and high logistics costs which, according to him, had constrained Nigeria’s ability to fully exploit its position at the centre of West African trade.
“Nigeria lies at the heart of West African trade. Yet, our strategic advantage has been constrained by port congestion, inadequate draft capacity and logistics bottlenecks that increase the cost of doing business. These projects respond directly to those constraints,” the President said.
He described the agreements as more than ceremonial documents, saying they represented the foundation of a broader industrial and maritime ecosystem.
“We are doing more than signing agreements; we are laying the foundation for a new chapter in Nigeria’s development,” Tinubu said, adding that modern infrastructure should be delivered as an integrated ecosystem operated to international standards and supported by government.
The proposed Gateway Deep Seaport is planned for Ogun Waterside and is expected to feature a four-kilometre berth and an 18-metre draft, enabling it to receive larger deep-draft vessels used in modern international shipping.
According to the Presidency, the facility is expected to provide an alternative maritime gateway to Lagos, help decongest the Apapa and Tin Can Island port corridors and reduce delays and logistics costs for importers, exporters and consumers.
The port is also expected to serve as a gateway for trade under the African Continental Free Trade Area, giving Nigeria improved access to a continental market of about 1.4 billion people.
The deep seaport is to be integrated with the proposed 10,000-hectare Ogun State Blue Marine Special Economic Zone, creating a large-scale industrial platform for manufacturing, processing, logistics, maritime services and export-oriented businesses.
Tinubu said the combination of the two projects was important because a port on its own primarily moves cargo, while a port linked to an industrial economic zone could stimulate production and wider economic activity.
“A port moves cargo; a port integrated with a special economic zone helps to build an economy. Each reinforces the other,” the President said.
Under the proposed arrangement, imported inputs could be processed into finished products within the economic zone, while Nigerian raw materials could also be processed locally before being exported.
The government says the strategy is intended to increase value addition, expand non-oil exports, attract manufacturing investment and create employment around the maritime corridor.
The President also linked the viability of the projects to the ongoing Lagos-Calabar Coastal Highway, saying the 28-kilometre Ogun State section of the highway would provide a critical transport connection between the port, industrial zone, Lagos, the Nigerian hinterland and wider African markets.
“The Lagos–Calabar Coastal Highway is central to this corridor’s commercial viability,” Tinubu said, noting that without access infrastructure, the coastline would have remained rich in potential but difficult to commercially exploit.
The Presidency said the emerging corridor is also expected to connect with other proposed strategic projects in the area, including a Nigerian Navy Operating Base and Dockyard and the OK LNG Project, creating links among maritime infrastructure, manufacturing, energy and gas exports.
Tinubu said the projects represented an initial investment exceeding $7 billion, with projections of more than 50,000 direct jobs once fully developed, in addition to indirect employment opportunities that could arise from supporting industries, logistics, transportation and related services.
He described the projects as part of the Federal Government’s economic diversification strategy, particularly efforts to grow the maritime economy, manufacturing base and non-oil export sector.
The President commended Governor Abiodun for what he described as the Ogun State Government’s role in securing land for the project, structuring the investment framework and reducing project risks for investors.
He said the collaboration demonstrated what could be achieved through cooperation between federal and state governments, with sub-national initiatives receiving regulatory and infrastructure support from the centre.
Tinubu assured DP World and other investors that the Federal Government would provide regulatory clarity, policy stability and a predictable business environment as the projects move from agreements to implementation.
He also pledged federal support for the road, rail and power connections required for the port and industrial zone, as well as security for investments and the maritime domain.
According to him, government would also work with Ogun State and investors to remove bureaucratic impediments that could delay implementation.
He, however, stressed that the signing of the agreements would only be meaningful if the parties fulfilled their commitments and converted the MoUs into actual infrastructure, industrial activity, employment and economic opportunities.
The President said the Federal Government would hold stakeholders accountable for their obligations under the agreements.
Governor Abiodun, in his remarks, described the signing as a major moment in Ogun State’s economic development and in Nigeria’s engagement with the global economy.
He said the concept of establishing a deep seaport along the Ogun coastline had existed for more than three decades but had remained largely unrealised.
Abiodun credited the present federal administration with providing political backing for the revival of the project.
“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 also commended Oyetola, the Nigerian Ports Authority and other federal institutions for supporting the project, saying the agreements reflected cooperation between the Federal Government’s economic agenda and Ogun State’s development programme.
According to the governor, the Gateway Deep Seaport and Blue Marine Special Economic Zone are part of a broader strategy to attract investment, expand trade, strengthen transportation links and position Ogun State as an industrial and logistics hub.
Abiodun said the project would form part of a larger multimodal infrastructure network expected to include the Gateway International Airport, dry ports, the Lagos-Calabar Coastal Highway and the deep seaport.
The governor also stressed the importance of host-community participation, environmental sustainability and security as implementation progresses.
“History will judge us not by the elegance of documents signed, but by the transformation that follows. Ceremonies proclaim intentions; only implementation creates prosperity,” Abiodun said.
DP World, one of the world’s major port and logistics operators, is expected to bring its experience in managing integrated ports, logistics facilities and special economic zones to the project.
Tinubu specifically referenced DP World’s Jebel Ali Free Zone model as an example of how ports, logistics infrastructure and industrial zones can be integrated to stimulate trade, manufacturing and investment.
The signing marks another step in the development process, but the projects remain subject to implementation, regulatory approvals, financing arrangements, construction milestones and delivery by the parties involved.
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