Tinubu assures investors of support as Ogun, DP World sign MoUs on $7bn port

Projects to create over 50,000 direct jobs, boost maritime trade

By Adebola Muili

President Bola Ahmed Tinubu has assured domestic and international investors of the Federal Government’s commitment to regulatory clarity, policy stability and a predictable business environment as Ogun State and DP World signed Memoranda of Understanding (MoUs) for the development of a deep seaport and a special economic zone in the state.

The agreements, signed in Paris, France, involve the Ogun State Government and DP World MEA FZE for the development of the Gateway Deep Sea Port in Ogun Waterside and the Ogun State Blue Marine Special Economic Zone.

According to a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Thursday, September 24, 2026, the projects are expected to attract more than $7 billion in initial investment and create over 50,000 direct jobs when fully developed.

Governor Dapo Abiodun led the Ogun State delegation to the signing ceremony, which was witnessed by President Tinubu. The delegation included the Secretary to the State Government, Tokunbo Talabi, and commissioners responsible for finance, works, industry, trade and investment, and transport, as well as a representative of the host community.

Speaking at the ceremony, Tinubu said the agreements represented a combination of investment, technical expertise and execution capacity, while welcoming DP World as a major global player in port and logistics operations.

“The agreements before us bring together vision, expertise, capital and execution capacity,” the President said, adding that the Federal Government would provide the necessary regulatory and institutional support to ensure a smooth transition from the agreements to actual implementation.

He said the government would also ensure that all parties fulfilled their commitments, describing the development as an important step towards attracting foreign direct investment, expanding productive capacity and strengthening Nigeria’s position in maritime trade, logistics, manufacturing and exports.

The proposed Gateway Deep Sea Port, according to the statement, will have a four-kilometre berth and an 18-metre draft, enabling it to accommodate larger vessels and helping to ease congestion around the Lagos port corridor.

The facility is expected to reduce pressure on the Apapa and Tin Can Island ports while lowering transportation costs and delays for importers, exporters and consumers.

The port will be integrated with the proposed 10,000-hectare Ogun State Blue Marine Special Economic Zone, creating an industrial and logistics corridor designed to support manufacturing, processing, exports and other economic activities.

Tinubu said the combination of the port and the economic zone would help turn Ogun State’s productive capacity into greater economic value, particularly through increased processing of Nigerian raw materials and the production of goods for export.

He said the zone had already attracted the interest of major global manufacturing and industrial companies, adding that its development would create employment opportunities for young Nigerians.

“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,” the President said.

Tinubu further assured investors that the Federal Government would support road, rail and power connectivity, strengthen investment security and maritime operations, and remove unnecessary bureaucratic obstacles.

He identified the Lagos-Calabar Coastal Highway as a major component of the emerging economic corridor, noting that the 28-kilometre section of the highway within Ogun State would provide an important connection between the port, the economic zone, Lagos and the Nigerian hinterland.

The President said the corridor would also link the industrial cluster around the proposed port with other strategic projects, including the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project.

He said the development of the maritime economy remained an important component of the Federal Government’s economic diversification efforts, urging Ogun State and its investors to sustain the momentum created by the agreements and move quickly towards implementation.

For his part, Abiodun described the signing as a major step towards unlocking the economic potential of Ogun State.

The governor, in a post on his verified X account, said the projects would create opportunities across manufacturing, logistics, maritime services, exports and other sectors.

He said the Gateway Deep Sea Port would be connected to the proposed 10,000-hectare Blue Marine Special Economic Zone, the Lagos-Calabar Coastal Highway and the Gateway International Airport.

Abiodun said the development was intended to create an integrated economic corridor capable of connecting Ogun State’s productive base to markets across Africa and other parts of the world.

“For us, this is about much more than building a port. We are creating an integrated economic corridor capable of connecting Ogun State’s productive capacity to markets across Africa and the rest of the world,” he said.

The governor expressed appreciation to Tinubu for the Federal Government’s support towards advancing the long-standing project and commended the Federal Ministry of Marine and Blue Economy, the Nigerian Ports Authority and other partners for their contributions.

He said the initiative aligned with his administration’s Building Our Future Together agenda, particularly its focus on attracting investments, creating employment and strengthening Ogun State’s position as an industrial, logistics and investment destination.