President Bola Ahmed Tinubu on Thursday said the proposed Gateway Deep Seaport and Ogun State Blue Marine Special Economic Zone will attract more than $7 billion in initial investment and create over 50,000 direct jobs, as Nigeria intensifies efforts to expand its maritime economy and non-oil exports.
According to a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu spoke in Paris, France, at the signing of Memoranda of Understanding between the Ogun State Government and DP World, one of the world’s leading port and logistics operators, for the development of the two projects.
The President assured domestic and foreign investors that the Federal Government would provide regulatory clarity, policy stability and a predictable business environment necessary to support long-term investments, while removing bureaucratic obstacles capable of delaying implementation.
‘These agreements envisage an initial investment of more than $7 billion in the Nigerian economy. At full development, the projects are projected to create more than 50,000 direct jobs and many additional indirect opportunities, while generating substantial non-oil export earnings from Nigerians’ creativity and productivity across the value chain’, Tinubu said.
He described the agreements as a major milestone in the administration’s drive to attract foreign direct investment, expand productive capacity and position Nigeria as a major hub for maritime trade, logistics, manufacturing and exports.
‘This is economic diversification made tangible. This is industrialisation made visible. This is Renewed Hope in action’, the President said.
According to the project plan, the Gateway Deep Seaport, to be located at Ogun Waterside, will have a four-kilometre berth and an 18-metre draft, enabling it to accommodate larger, deeper-draft vessels used in modern global commerce.
The port is expected to ease pressure on the Apapa and Tin Can Island ports in Lagos, reduce congestion along the Lagos port corridor and cut costs and delays faced by importers, exporters and consumers.
It is also expected to provide a competitive logistics gateway into the African Continental Free Trade Area, giving Nigeria stronger access to a continental market of about 1.4 billion people.
Ogun deep seaport
The accompanying Ogun State Blue Marine Special Economic Zone is proposed to occupy 10,000 hectares and host manufacturing and industrial activities linked directly to the new port.
Tinubu said the combination of the port and special economic zone would enable imported inputs to be converted into finished products within Nigeria while domestic raw materials would be processed for export.
‘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.
‘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 said the Federal Government would provide the regulatory and institutional support required to move the projects from agreements to implementation, adding that all parties would also be held accountable for their commitments.
‘We will facilitate road, rail and power connectivity; strengthen investment security and our maritime domain; and remove unnecessary bureaucratic obstacles’, he said.
Tinubu commended Ogun State Governor Dapo Abiodun and his administration for securing the land, structuring the investment framework and reducing risks for prospective global investors, describing the partnership between the federal and state governments as an example of cooperative federalism.
He said the Federal Government would continue to work with Ogun and other states to remove investment bottlenecks and facilitate projects capable of creating economic value and employment while ensuring compliance with the country’s laws and regulatory requirements.
The President said the projects were particularly significant because Nigeria’s strategic location at the heart of West African trade had for years been undermined by congestion, inadequate port draft capacity and logistics bottlenecks that raised the cost of doing business.
‘Nigeria lies at the heart of West African trade. Yet, our strategic advantage has been constrained by port congestion, inadequate draft capacity and logistics bottlenecks that increase the cost of doing business. These projects respond directly to those constraints.
‘This is how modern infrastructure should be delivered: as an integrated ecosystem, operated to world-class standards and supported by a serious and responsible government. This is nation-building in its most practical form’, Tinubu said.
Tinubu identified the Lagos-Calabar Coastal Highway as a critical component of the emerging economic corridor, saying the 28-kilometre Ogun section of the 700-kilometre highway was scheduled for completion before the end of 2026.
According to him, the highway will connect the port and economic zone more effectively with Lagos, Nigeria’s hinterland and markets across the African continent.
‘Without it, the coastline would have remained rich in potential but without access. With it, the zone and port will connect more effectively to Lagos, the Nigerian hinterland and markets across the African continent’, he said.
The President said the projects would also anchor a wider strategic corridor around the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project, linking the emerging industrial cluster with Nigeria’s energy and gas-export ambitions.
He urged Ogun State and the investors to sustain the momentum generated by the agreements and proceed expeditiously to implementation.
Governor Abiodun led the Ogun State delegation to the ceremony, accompanied by the Secretary to the State Government, Tokunbo Talabi, commissioners responsible for finance, works, industry, trade and investment and transport, as well as a representative of the host community.
Also present were 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, Dr Abubakar Dantsoho; Group Chief Executive Officer of DP World, Yuvraj Narayan; Managing Director of SkyKapital, Karim Noujaim; and DP World’s Senior Vice President for Business Development, Sub-Saharan Africa Regional Office, Mohammed Rashid Ismail.
‘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’, Tinubu said.
He added that strengthening Nigeria’s maritime economy remained central to the administration’s broader economic diversification strategy, with the government determined to turn the country’s geographical advantage into increased manufacturing, exports, jobs and investment.