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President Bola Tinubu has assured investors of regulatory clarity as Ogun State and DP World signed agreements for a proposed deep seaport and special economic zone.
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The projects are expected to attract an initial investment of more than $7 billion and create over 50,000 direct jobs when fully developed.
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The Gateway Deep Seaport is projected to ease pressure on Lagos ports and strengthen Nigeria’s position as a regional trade and logistics hub.
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Tinubu also pledged federal support for road, rail and power connectivity to accelerate the projects and improve access to African markets.
September 24, (THEWILL) – President Bola Tinubu has assured domestic and foreign investors of regulatory clarity and policy stability as Ogun State and global ports operator DP World signed agreements for the development of a deep seaport and a special economic zone in the state.
The agreements were signed in Paris, France, on Wednesday, with the proposed Gateway Deep Seaport and Ogun State Blue Marine Special Economic Zone expected to attract an initial investment of more than $7 billion.
The projects are designed to strengthen Nigeria’s maritime and industrial capacity, decongest the Lagos port corridor and create new opportunities for manufacturing and exports.
Speaking at the signing ceremony, Tinubu said the Federal Government would provide the regulatory and institutional support required to move the projects from agreements to implementation.
“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,” the President said.
He also pledged that the government would ensure accountability among all parties involved while facilitating infrastructure and regulatory support for the projects.
The Gateway Deep Seaport, proposed at Ogun Waterside, will feature a four-kilometre berth and an 18-metre draft, allowing it to accommodate larger vessels used in international trade.
According to the President, the facility would help ease pressure on Lagos’ Apapa and Tin Can Island ports while reducing transportation costs and delays for importers, exporters and consumers.
The proposed Blue Marine Special Economic Zone will cover about 10,000 hectares and is expected to provide an industrial base linked directly to the new port.
Tinubu said the combined projects were projected to generate more than 50,000 direct jobs when fully developed, alongside additional indirect employment and increased non-oil export earnings.
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“This is economic diversification made tangible. This is industrialisation made visible,” he said.
The President said the Federal Government would facilitate road, rail and power connections to the zone and port, while strengthening investment security and removing unnecessary bureaucratic obstacles.
He described the arrangement as an example of cooperation between federal and state governments, commending Governor Dapo Abiodun’s administration for securing the land and structuring the investment framework.
Tinubu also linked the projects to the Lagos-Calabar Coastal Highway, particularly its 28-kilometre section in Ogun State, which he said was scheduled for completion before the end of 2026.
He said the highway would provide a critical transport connection between the industrial zone, the port, Lagos and Nigeria’s hinterland.
“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,” Tinubu said.
The President further said the developments would complement the proposed Nigerian Navy Operating Base and Dockyard as well as the OK LNG Project, creating an industrial corridor around Ogun’s coastline.
He urged the Ogun State Government, DP World and other investors to maintain the momentum generated by the agreements and move swiftly towards implementation.
Governor Dapo Abiodun led the Ogun delegation at the ceremony, which was attended by Minister of Marine and Blue Economy Adegboyega Oyetola, Nigerian Ports Authority Managing Director Abubakar Dantsoho, DP World Group CEO Yuvraj Narayan and other government and business representatives.
Segun Adeyemi serves as the Associate Editor of THEWILL Newspaper, leveraging more than ten years of editorial expertise and a proven track record in mainstream journalism.
