The Federal Government has backed the $7 billion investment planned for the development of the Ogun State Blue Marine Special Economic Zone and the Gateway Deep Seaport, assuring investors of regulatory clarity and a predictable business environment.
President Bola Ahmed Tinubu gave the assurance in Paris, France, where the Ogun State Government and DP World signed Memoranda of Understanding for the development of the projects.
Tinubu said the agreements represented a major step in Nigeria’s efforts to attract foreign direct investment, expand productive capacity and strengthen the country’s position as a hub for maritime trade, logistics, manufacturing and exports.
“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 assured investors that the Federal Government would provide the necessary regulatory and institutional support to move the projects from agreements to implementation.
Tinubu also pledged that the government would hold all parties accountable for their commitments.
“These agreements envisage an initial investment of more than $7 billion in the Nigerian economy,” he said.
According to him, the projects are projected to create more than 50,000 direct jobs and many additional indirect opportunities when fully developed.
“This is economic diversification made tangible. This is industrialisation made visible. This is Renewed Hope in action,” Tinubu said.
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,” he said.
Tinubu said the Federal Government would facilitate road, rail and power connectivity, strengthen investment security and the maritime domain, and remove unnecessary bureaucratic obstacles.
The proposed Gateway Deep Seaport at Ogun Waterside will have a four-kilometre berth and an 18-metre draft, enabling it to accommodate larger vessels serving modern global commerce.
The President said the port would help decongest the Lagos port corridor, reduce pressure on Apapa and Tin Can Island ports, and cut costs and delays for importers, exporters and consumers.
He added that the facility would provide a competitive trade and logistics gateway for the African Continental Free Trade Area, connecting Nigeria more effectively to a continental market of about 1.4 billion people.
The Ogun State Blue Marine Special Economic Zone is proposed to cover 10,000 hectares and is already attracting interest from major global manufacturing and industrial companies, according to Tinubu.
“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.
Tinubu described the deep seaport as critical infrastructure for the viability of the special economic zone.
“A port moves cargo; a port integrated with a special economic zone helps to build an economy. Each reinforces the other,” he said.
The President said strengthening Nigeria’s maritime economy remained a key part of the Federal Government’s broader economic diversification strategy.
“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,” Tinubu said.
He added that the Ogun projects would directly address those challenges.
“This is how modern infrastructure should be delivered: as an integrated ecosystem, operated to world-class standards and supported by a serious and responsible government. This is nation-building in its most practical form,” he said.
Tinubu also highlighted the Lagos-Calabar Coastal Highway as central to the commercial viability of the corridor.
He said the 28-kilometre Ogun section of the 700-kilometre highway, scheduled for completion before the end of 2026, would provide a vital transport link for the port and economic zone.
“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 said.
The President said the projects would also anchor a broader strategic corridor around the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project, linking the industrial cluster to Nigeria’s energy and gas-export ambitions.
He urged the Ogun State Government and investors to sustain the momentum generated by the signing and proceed expeditiously with implementation.