The Ogun State Government and DP World, a global ports and logistics company, have signed agreements for the development of a deep seaport and a special economic zone in the state.
The agreements, signed in Paris, France, are expected to support the development of the Gateway Deep Seaport at Ogun Waterside and the Ogun State Blue Marine Special Economic Zone. Dapo Abiodun, governor of Ogun, led the state delegation to the signing ceremony, which was witnessed by President Bola Tinubu. According to a statement by Bayo Onanuga, special adviser to the president on information and strategy, the proposed deep seaport will feature a four kilometre berth and an 18 metre draft.
“The proposed port at Ogun Waterside, with a four-kilometre berth and an 18-metre draft, would 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,” the statement said.
The project is also expected to handle larger vessels used in international trade and strengthen Nigeria’s position as a trade gateway within the African Continental Free Trade Area.
“It will accommodate the larger, deeper-draft vessels that support modern global commerce and provide a competitive trade and logistics gateway for the African Continental Free Trade Area, positioning Nigeria to serve a continental market of approximately 1.4 billion people.
“Ogun State Blue Marine Special Economic Zone is proposed to be accommodated on 10,000 hectares.”
Speaking at the ceremony, Tinubu said the agreements could bring more than $7 billion in initial investment into Nigeria. He said the projects could create more than 50,000 direct jobs when fully developed, alongside additional indirect employment and opportunities for non oil export earnings.
“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. I also acknowledge our financial advisers, Sky Capital, and all the investors and partners whose commitment has brought us to this important stage,” he said.
Tinubu described the projects as part of efforts to diversify Nigeria’s economy and expand industrial activity.
“This is economic diversification made tangible. This is industrialisation made visible. This is Renewed Hope in action. I commend Governor Dapo Abiodun, and the Government and people of Ogun State, 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. “We will facilitate road, rail and power connectivity; strengthen investment security and our maritime domain; and remove unnecessary bureaucratic obstacles.”
The president said the special economic zone has already attracted interest from major manufacturing and industrial companies.
“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 also identified the proposed seaport as essential to the success of the economic zone.
“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.”
He said the federal government would support Ogun and other subnational governments by removing unnecessary administrative barriers while maintaining regulatory requirements. The president also linked the projects to improvements in road connectivity, particularly the Lagos Calabar coastal highway. He said the 28 kilometre Ogun section of the 700 kilometre highway, expected to be completed before the end of the year, would provide an important connection between the port, economic zone, Lagos, the Nigerian hinterland and other African markets.
“These projects will also anchor a broader strategic corridor near the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project, connecting this industrial cluster to our energy and gas-export ambitions,” Tinubu said.
The federal government, he added, would provide regulatory and institutional support needed to move the projects from agreements to actual implementation. Tinubu said the projects represent part of broader efforts to attract foreign investment, increase productive capacity and strengthen Nigeria’s position in maritime trade, logistics, manufacturing and exports.
