By Stephen Simon
The Ogun State Government and global ports and logistics operator, DP World, have signed Memoranda of Understanding for the development of the Gateway Deep Seaport and the Ogun State Blue Marine Special Economic Zone, with the projects expected to attract more than $7 billion in initial investment.
The agreements were signed in Paris, France, on Thursday in the presence of President Bola Tinubu, who described the development as a major step towards expanding Nigeria’s maritime economy, strengthening industrial production and attracting foreign investment.
The projects are projected to create more than 50,000 direct jobs when fully developed, in addition to indirect employment opportunities across manufacturing, logistics, maritime services, trade and other related sectors.
Tinubu assured domestic and international investors that the Federal Government would provide regulatory clarity, policy stability and the institutional support required to move the projects from agreements to implementation.
The proposed Gateway Deep Seaport, located at Ogun Waterside, is expected to feature a four-kilometre berth and an 18-metre draft, allowing it to accommodate larger vessels and provide an alternative maritime gateway to the congested Lagos port corridor.
The President said the facility would help ease pressure on the Apapa and Tin Can Island ports while reducing delays and logistics costs for importers, exporters and consumers.
The accompanying Blue Marine Special Economic Zone is planned on about 10,000 hectares and is designed to integrate maritime infrastructure with manufacturing, processing, logistics and export-oriented industries.
Tinubu said the zone would enable imported production inputs to be transformed into finished goods, while Nigerian raw materials could be processed locally and exported, thereby expanding the country’s non-oil export base.
He described the integration of the port and industrial zone as important to ensuring that the investment goes beyond cargo movement to supporting broader economic activity.
The President also linked the projects to the planned Lagos-Calabar Coastal Highway, saying the 28-kilometre Ogun section would provide an important transport connection between the port, industrial zone, Lagos, the Nigerian hinterland and wider African markets.
He said the Federal Government would also facilitate road, rail and power connectivity required to support the projects, strengthen investment security and remove unnecessary bureaucratic obstacles.
Ogun State Governor Dapo Abiodun said the deep seaport would provide the state with a new gateway to international commerce while strengthening its position as an industrial destination.
The project is also expected to complement existing industrial activities in Ogun and provide manufacturers with improved access to maritime transportation and export markets.
The investment framework brings together the Federal Government, Ogun State Government, DP World, financial advisers and other private-sector partners.
Tinubu urged all parties to maintain the momentum generated by the agreements and proceed with implementation, stressing that the projects would be important to Nigeria’s efforts to diversify its economy and strengthen its position as a regional maritime and industrial hub.
