Tinubu Woos Global Investors as Ogun, DP World Seal $7bn Deep Seaport, Economic Zone Deal in Paris

President Bola Ahmed Tinubu has assured domestic and foreign investors of regulatory clarity, policy stability and a predictable business environment as the Ogun State Government and global ports operator DP World signed Memoranda of Understanding for the development of the Gateway Deep Seaport and the Ogun State Blue Marine Special Economic Zone.

The agreements, signed in Paris on Thursday, envisage an initial investment of more than $7 billion in the Nigerian economy, with the projects projected to create over 50,000 direct jobs at full development, alongside additional indirect employment opportunities and increased non-oil export earnings.

Tinubu, who witnessed the signing ceremony, said the Federal Government would provide the necessary regulatory and institutional support to move the projects from agreements to implementation while holding all parties accountable for their commitments.

“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,” the President said.

He described the agreements as a significant milestone in Nigeria’s efforts to attract foreign direct investment, expand productive capacity and position the country as a major hub for maritime trade, logistics, manufacturing and exports.

“These agreements envisage an initial investment of more than $7 billion in the Nigerian economy. At full development, the projects are projected to create more than 50,000 direct jobs and many additional indirect opportunities, while generating substantial non-oil export earnings,” Tinubu stated.

“This is economic diversification made tangible. This is industrialisation made visible. This is Renewed Hope in action,” he added.

The proposed Gateway Deep Seaport at Ogun Waterside will feature a four-kilometre berth and an 18-metre draft, enabling it to accommodate larger, deeper-draft vessels used in modern global commerce.

According to the President, the port will help decongest the Lagos port corridor, ease pressure on the Apapa and Tin Can Island ports, and reduce costs and delays for importers, exporters and consumers. It is also expected to provide a competitive trade and logistics gateway for the African Continental Free Trade Area.

The Ogun State Blue Marine Special Economic Zone, proposed to cover about 10,000 hectares, is designed to accommodate manufacturing, processing, logistics and export-oriented industries.

Tinubu said the zone was already attracting interest from major global manufacturing and industrial companies, with the planned development aimed at turning imported inputs into finished products and processing Nigerian raw materials for export.

“Within the zone, imported inputs will be transformed into finished goods, Nigerian raw materials will be processed for export and, most importantly, our young men and women will find dignified, productive and sustainable employment,” he said.

The President described the relationship between the proposed port and economic zone as central to the viability of the overall development.

“The Gateway Deep Seaport is the critical infrastructure that will support the zone’s viability. A port moves cargo; a port integrated with a special economic zone helps to build an economy. Each reinforces the other,” Tinubu said.

He also identified the Lagos-Calabar Coastal Highway as central to the commercial viability of the emerging corridor, saying the 28-kilometre Ogun section of the 700-kilometre highway was scheduled for completion before the end of the year.

“Without it, the coastline would have remained rich in potential but without access. With it, the zone and port will connect more effectively to Lagos, the Nigerian hinterland and markets across the African continent,” he stated.

The President further said the developments would form part of a wider strategic industrial and energy corridor near the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project.

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

“This is cooperative federalism as envisaged by our Constitution: subnational vision supported by federal facilitation,” Tinubu said.

Governor Abiodun, who led the Ogun State delegation to the signing ceremony, described the occasion as a defining moment in the economic history of the state and Nigeria’s engagement with the global economy.

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

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

Abiodun said the deep seaport was 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 stated.

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

He said the development would form part of a wider multimodal infrastructure network incorporating the Gateway International Airport, dry ports, the coastal highway and the deep seaport.

“Ceremonies proclaim intentions; only implementation creates prosperity,” Abiodun added.

The signing ceremony was attended by the Minister of Marine and Blue Economy, Adegboyega Oyetola; Nigeria’s Ambassador to France, Emmanuel Ayodele Oke; Managing Director of the Nigerian Ports Authority, Abubakar Dantsoho; DP World Group Chief Executive Officer, Yuvraj Narayan; and other government and private-sector officials.

Tinubu urged the Ogun State Government, DP World and other partners to sustain the momentum generated by the agreements and proceed expeditiously with implementation.

“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,” he said.