Ogun State Governor, Dapo Abiodun, says two major investment projects valued at $17 billion are generating growing interest among local and international investors seeking business opportunities in the state.
The projects include the proposed $7 billion Gateway Deep Seaport and the $10 billion Ogun Liquefied Natural Gas (OgunLNG) project, which the governor believes will strengthen the state’s industrial capacity and expand economic activities. Abiodun disclosed this on Tuesday at a town hall meeting on the 2027 to 2029 Medium Term Expenditure Framework and the 2027 budget in Ijebu Ode. He said the projects, alongside the proposed Ogun Blue Marine and Special Economic Zone and the Federal Government’s Lagos Calabar Coastal Highway, would position the state as an attractive destination for major investments.
The governor explained that his administration signed two agreements with global ports and logistics operator DP World in Paris in September for the development of the deep seaport and the special economic zone.
“In September, I had the privilege of travelling to Paris to sign a landmark agreement that will be the biggest legacy of my administration, and that agreement is for the construction of the Ogun Deep Sea Port,” he said.
He added that the agreements would attract approximately $7 billion in private sector investment without requiring direct government funding.
“That day, we signed two agreements: one for the Deep Sea Port and the other for the Ogun Blue Marine and Special Processing Zone. These combined agreements translate to an investment of about $7 billion of private capital, with no government investment,” he said.
Abiodun said the proposed $10 billion OgunLNG project, which involves the Nigerian National Petroleum Company Limited (NNPC), would further improve the state’s investment prospects. He also noted that the Lagos Calabar Coastal Highway would improve access to the state’s coastal areas, strengthen transportation links and create new economic opportunities.
According to him, the combination of these projects has increased interest from investors looking to establish businesses and benefit from Ogun’s expanding industrial environment. The governor attributed the growing investor confidence to infrastructure development and other economic initiatives introduced by his administration since 2019.
Reviewing his government’s performance, Abiodun said more than 1,700 kilometres of roads had been constructed or rehabilitated across the state. He also highlighted investments in healthcare, education and agriculture, including the development of the Gateway Medical Centre of Excellence, the rehabilitation of more than 1,600 public schools and the recruitment of over 6,000 teachers.
On electricity, the governor said power plants had been installed in Abeokuta, while similar facilities were planned for Ijebu Ode and Remo to improve electricity supply and support businesses and industrial activities. He also listed road projects across Ijebu Division, including interventions in Oru, Awa, Ilaporu, Ago Iwoye, Eruwon and Atan. In Ijebu Ode, he said the government had constructed 26 roads.
On the 2027 budget, Abiodun said his administration would prioritise realistic spending, the completion of ongoing projects and essential services.
“My responsibility is to present a realistic and transparent budget that will complete all ongoing projects and provide essential services,” he said.
He urged traditional rulers, community leaders, religious organisations, professional groups and residents to submit proposals on the development needs of their communities. The governor explained that projects and requests that could not be accommodated in the 2027 budget would be documented and forwarded to the incoming administration to ensure continuity in government development plans.
Earlier, Dapo Okubadejo, the state’s Commissioner for Finance and Chief Economic Adviser, said the government’s development agenda focused on infrastructure, access to essential services and creating an environment that supports economic activities and individual prosperity.
