…Ogun deep seaport, blue marine zone projected to create over 50,000 direct jobs
President Bola Ahmed Tinubu has assured domestic and foreign investors of the Federal Government’s commitment to regulatory clarity, policy stability and a predictable business environment to support long-term investments in Nigeria.
Tinubu gave the assurance in Paris, France, on Thursday, at the signing of Memoranda of Understanding between the Ogun State Government and DP World, a global ports and logistics operator, for the development of the Ogun State Blue Marine Special Economic Zone and the Gateway Deep Seaport.
The President described the agreements as a major milestone 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.
He said the agreements bring together “vision, expertise, capital and execution capacity”, assuring 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, while facilitating road, rail and power connectivity, strengthening investment security and removing unnecessary bureaucratic obstacles.
According to him, the projects envisage an initial investment of more than $7 billion in the Nigerian economy and, at full development, are projected to create more than 50,000 direct jobs, alongside additional indirect employment opportunities.
“This is economic diversification made tangible. This is industrialisation made visible. This is Renewed Hope in action,” the President said, commending Ogun State Governor Dapo Abiodun and the people of the state for securing the land, structuring the investment framework and reducing project risks for global investors.
Tinubu described the partnership as an example of “cooperative federalism”, with subnational vision supported by federal facilitation.
The proposed Gateway Deep Seaport at Ogun Waterside will have a four-kilometre berth and an 18-metre draft. The President said the facility would help decongest the Lagos port corridor, ease pressure on Apapa and Tin Can Island ports, and reduce costs and delays for importers, exporters and consumers.
He said the port would be capable of accommodating larger, deeper-draft vessels required for modern global commerce and would provide a competitive gateway for trade under the African Continental Free Trade Area, giving Nigeria access to a continental market of about 1.4 billion people.
The Ogun State Blue Marine Special Economic Zone, which is proposed to cover 10,000 hectares, is already attracting interest from major global manufacturing and industrial companies, according to the President.
Tinubu said the zone would facilitate the transformation of imported inputs into finished goods and the processing of Nigerian raw materials for export, while creating productive 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,” he said.
The President also linked the success of the projects to improved transportation infrastructure, particularly the Lagos-Calabar Coastal Highway.
He said the 28-kilometre Ogun section of the 700-kilometre highway, scheduled for completion before the end of the year, would provide a vital transport connection for the proposed port and industrial zone to Lagos, the Nigerian hinterland and markets across Africa.
Tinubu further said the projects would anchor a broader strategic corridor around the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project, linking the industrial cluster with Nigeria’s energy and gas-export ambitions.
He urged the Ogun State Government and investors to sustain the momentum generated by the agreements and proceed expeditiously with implementation.
Governor Abiodun led the Ogun State delegation to the ceremony. Other dignitaries included the Minister of Marine and Blue Economy, Adegboyega Oyetola; Nigeria’s Ambassador to France, Emmanuel Ayodele Oke; Managing Director and Chief Executive Officer of the Nigerian Ports Authority, Abubakar Dantsoho; and DP World Group Chief Executive Officer, Yuvraj Narayan.
