Tinubu Witnesses Signing as Ogun Secures $7bn DP World Deal for Gateway Port

By Joseph Sunday

President Bola Ahmed Tinubu on Thursday witnessed the signing of Memoranda of Understanding between the Ogun State Government and DP World MEA FZE for the development of the Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone, in deals worth over $7 billion in initial investment.

The signing ceremony, held in Paris, France, was also witnessed by the Minister of Marine and Blue Economy, Adegboyega Oyetola, and the Director-General of the Nigerian Ports Authority, Mohammed Bello-Koko.

The MoUs establish a joint investment framework involving the Federal Government, Ogun State, DP World, financial advisers and private sector partners to resolve trade and logistics bottlenecks and expand Nigeria’s industrial and export capacity.

President Tinubu said the projects will address critical infrastructure gaps and provide an integrated platform for manufacturing, maritime trade and access to African and global markets.

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

Located in Ogun Waterside, the Gateway Deep Sea Port is designed with a 4-kilometre berth and an 18-metre draft to accommodate large vessels, ease pressure on the Lagos port corridor, and reduce costs and delays for importers and exporters.

The port will be developed alongside a 10,000-hectare Blue Marine Special Economic Zone that will host manufacturing, processing and export-oriented industries. According to the President, the zone will enable the conversion of imported raw materials into finished goods and the processing of Nigerian raw materials for export, thereby boosting non-oil exports.

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

He added that the 28-kilometre Ogun stretch of the Lagos-Calabar Coastal Highway will serve as a vital link between the port, the industrial zone, Lagos and the hinterland, while connecting to other strategic projects, including the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project.

According to the President, the two projects will attract over $7 billion in first-phase investment and create more than 50,000 direct jobs, with many more indirect jobs expected.

Tinubu commended Ogun State Governor, Prince Dapo Abiodun, for securing the project land, structuring a bankable investment framework and de-risking the projects for investors, describing the effort as a model of cooperative federalism.

He assured investors of regulatory clarity, policy stability and federal support for road, rail and power infrastructure, adding that the Federal Government would ensure all parties deliver on their commitments.

In his remarks, Governor Abiodun described the signing as a defining moment in Ogun State’s economic history and Nigeria’s engagement with the global economy, noting that the deep seaport idea had remained unfulfilled for over three decades until President Tinubu’s intervention.

“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 the Ministry of Marine and Blue Economy and the NPA for their support, stating that the project aligns the Federal Government’s Renewed Hope Agenda with Ogun’s Building Our Future Together Agenda.

“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.

Abiodun said the projects will stimulate small businesses, strengthen supply chains, attract foreign direct investment and create opportunities in maritime services, logistics, manufacturing and technology.

Citing DP World’s Jebel Ali Free Zone in Dubai as a global model, he said the Blue Marine SEZ would become a hub for capital, technology, innovation and talent.

He added that the seaport will be integrated into a wider multimodal transport network comprising the Gateway International Airport, dry ports, the coastal highway and the deep seaport.

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

The governor assured investors of Ogun State’s readiness to deliver, while emphasizing host community inclusion, environmental sustainability and security.