Ogun, DP World Sign $7bn MoUs for Deep Seaport, Blue Marine SEZ

Projects projected to attract over $7bn in initial investment, create more than 50,000 direct jobs

The Ogun State Government and DP World MEA FZE have signed Memoranda of Understanding (MoUs) for the development of the Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone, in a deal projected to attract more than $7 billion in initial investment and create over 50,000 direct jobs.

President Bola Ahmed Tinubu witnessed the signing ceremony in Paris, France, alongside the Minister of Marine and Blue Economy, Adegboyega Oyetola, and the Director-General of the Nigerian Ports Authority (NPA), Mohammed Bello-Koko.

The agreements bring together the Federal Government, Ogun State Government, DP World, financial advisers and other private-sector partners in an investment framework designed to ease logistics bottlenecks, strengthen Nigeria’s manufacturing and export capacity, and expand access to regional and global markets.

President Tinubu said the projects would address longstanding infrastructure and logistics challenges while creating an integrated platform linking maritime commerce with industrial production and exports.

«“We are doing more than signing agreements; we are laying the foundation for a new chapter in Nigeria’s development,” the President said.»

Deep Seaport to Handle Larger Vessels

The Gateway Deep Sea Port, planned for Ogun Waterside, will feature a four-kilometre berth and an 18-metre draft. The facility is expected to handle larger vessels, ease pressure on the Lagos port corridor and reduce transportation costs and delays for importers and exporters.

The port will be integrated with the proposed 10,000-hectare Blue Marine Special Economic Zone, which is expected to accommodate manufacturing, processing and export-oriented industries.

According to Tinubu, the zone will provide an avenue for imported inputs to be converted into finished products while Nigerian raw materials can be processed for export, supporting the expansion of the country’s non-oil export base.

«“A port moves cargo; a port integrated with a special economic zone helps to build an economy,” he said.»

The President said the 28-kilometre Ogun section of the Lagos-Calabar Coastal Highway would provide an important connection between the port, industrial zone, Lagos, the Nigerian hinterland and wider African markets.

He also linked the emerging corridor to other strategic investments, including the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project.

Tinubu said the projects represent an initial investment of more than $7 billion and are projected to generate over 50,000 direct jobs, with additional employment expected through associated businesses and supply chains.

He described the investment as a practical expression of economic diversification and industrialisation under the Renewed Hope Agenda.

The President commended Ogun State Governor, Prince Dapo Abiodun, for securing the required land, structuring the investment framework and reducing project risks for investors.

He described the initiative as an example of cooperative federalism, with state-level initiative receiving federal backing.

Tinubu also assured investors of regulatory clarity and policy stability, promising federal support for road, rail and power connectivity, investment security and the maritime sector.

He stressed that the agreements must translate into actual investments, completed infrastructure, jobs and economic opportunities.

Earlier, Governor Abiodun described the signing as a defining moment in Ogun State’s economic history and the state’s growing engagement with the global economy.

According to him, the deep seaport vision had remained largely unrealised for more than three decades until the current administration revived it.

«“It has taken the foresight, courage and dogged leadership of President Bola Ahmed Tinubu to move it from aspiration to reality,” Abiodun said.»

The governor commended Oyetola, the NPA and other federal institutions for supporting the project, describing it as evidence of alignment between the Federal Government’s Renewed Hope Agenda and Ogun’s Building Our Future Together agenda.

Abiodun said the deep seaport formed part of a wider strategy to deepen trade, attract investment, improve connectivity and strengthen Nigeria’s maritime economy.

«“Our ambition is not merely to berth ships. We are building a gateway for Ogun and Nigeria’s productive strength to reach Africa and the world,” he said.»

He said the project would stimulate small and medium-sized enterprises, strengthen supply chains, expand export capacity, attract foreign direct investment and create opportunities across maritime services, logistics, manufacturing and technology.

The governor also highlighted the Blue Marine Special Economic Zone as a platform for attracting capital, technology, innovation and talent, citing DP World’s Jebel Ali Free Zone as an example of the potential of integrating ports, logistics and special economic zones.

Abiodun said the development would form part of a wider multimodal infrastructure network incorporating the Gateway International Airport, dry ports, Lagos-Calabar Coastal Highway and Gateway Deep Sea Port.

He, however, stressed that the success of the project would ultimately depend on implementation.

«“History will judge us not by the elegance of documents signed, but by the transformation that follows. Ceremonies proclaim intentions; only implementation creates prosperity,” the governor said.»

The governor assured DP World and other partners that Ogun was ready for business, partnership and delivery, while emphasising the importance of host-community participation, environmental sustainability and security.

The signing marks a significant step in Ogun’s long-running coastal development ambitions and the state’s strategy to leverage its geographical position to expand industrialisation, logistics, maritime commerce and international trade.