Ogun Govt, DP World Sign $7bn Deal for Deep Seaport, Special Economic Zone

The Ogun State Government and DP World MEA FZE have signed Memoranda of Understanding (MoUs) for the development of the proposed Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone.

The projects are expected to attract more than $7 billion in initial investment and create over 50,000 direct jobs, with additional employment opportunities expected across various sectors.

The agreements were signed in Paris, France, in the presence of President Bola Ahmed Tinubu, the Minister of Marine and Blue Economy, Adegboyega Oyetola, and the Director-General of the Nigerian Ports Authority (NPA), Mohammed Bello-Koko.

The partnership is expected to strengthen Ogun State’s position as a major industrial and logistics hub while improving Nigeria’s access to international trade and markets.

The Gateway Deep Sea Port, which is planned for the Ogun Waterside area, is expected to have a four-kilometre berth and an 18-metre draft. These facilities will allow the port to accommodate larger vessels and help reduce pressure on existing ports in the Lagos corridor.

The port will also be linked to the proposed 10,000-hectare Blue Marine Special Economic Zone. The zone is designed to attract manufacturing, processing, logistics and export-oriented businesses.

President Tinubu said the combination of the seaport and the economic zone would go beyond moving goods, as it would also support industrial production and create opportunities for businesses and workers.

He said the projects would help address some of Nigeria’s long-standing transportation and logistics challenges while supporting the country’s economic diversification and export growth.

The President also highlighted the 28-kilometre section of the Lagos-Calabar Coastal Highway within Ogun State, which is expected to provide an important connection between the port, the industrial zone, Lagos and other parts of Nigeria.

The planned development will also connect with other major projects in the area, including the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project.

According to the President, the combined projects are expected to generate more than 50,000 direct jobs, while creating further opportunities in logistics, manufacturing, maritime services, technology and other sectors.

Tinubu commended Ogun State Governor, Prince Dapo Abiodun, for securing the required land and developing an investment framework aimed at reducing risks for investors.

He described the project as an example of cooperation between the Federal Government and a state government to attract major private-sector investment.

The President assured investors of continued federal support, particularly in the areas of road, rail and power infrastructure, regulatory stability and investment security.

He also stressed that the agreements must move beyond paperwork, saying the ultimate goal was to see actual investments, completed projects, jobs and economic benefits for Nigerians.

Speaking at the event, Governor Dapo Abiodun described the agreements as a major milestone in Ogun State’s long-standing plan to develop a deep seaport along its coastline.

Abiodun said the deep seaport vision had existed for more than 30 years but had not been fully realised until recent efforts by his administration and the Federal Government.

He praised President Tinubu, Minister Oyetola, the NPA and other government institutions for their support in moving the project forward.

The governor said the project would help expand trade, improve transportation links, attract foreign investment and strengthen Ogun State’s maritime and industrial economy.

According to Abiodun, Ogun’s goal is not simply to build a facility where ships can berth, but to establish a major gateway through which goods produced in Ogun and Nigeria can reach markets across Africa and the rest of the world.

He added that the development would create opportunities for small and medium-sized businesses while strengthening supply chains and supporting sectors such as manufacturing, logistics, technology and maritime services.

The governor also described the Blue Marine Special Economic Zone as an important part of the project, noting that it could attract capital, technology and new businesses to the state.

The development is expected to become part of a wider transportation network that includes the Gateway International Airport, dry ports, the Lagos-Calabar Coastal Highway and the proposed deep seaport.

Abiodun said the success of the project would ultimately depend on implementation rather than the signing of agreements.

He also assured investors of Ogun State’s commitment to providing a conducive environment for business while emphasising the importance of host-community participation, environmental protection and security.

The signing of the MoUs marks a significant step in Ogun State’s efforts to develop its coastal economy and use its strategic location to attract investment, create jobs and expand Nigeria’s participation in international trade.

Hon. Kayode Akinmade
Special Adviser, Information and Strategy, Ogun State