President Tinubu has assured investors of regulatory clarity as Ogun State and DP World sign MoUs for the Gateway Deep Seaport and 10,000-hectare Blue Marine Special Economic Zone.
President Bola Ahmed Tinubu has assured domestic and foreign investors of regulatory clarity, policy stability and a predictable business environment as the Ogun State Government and DP World signed Memoranda of Understanding (MoUs) for the development of the Gateway Deep Seaport and the Ogun State Blue Marine Special Economic Zone.
The agreements were signed on Thursday, September 24, 2026, in Paris, France, with President Tinubu witnessing the ceremony. Ogun State Governor, Prince Dapo Abiodun, led the state’s delegation.
The projects envisage an initial investment of more than $7 billion and are projected to create more than 50,000 direct jobs when fully developed, according to the Presidency.
Speaking at the ceremony, Tinubu said the Federal Government would provide the regulatory and institutional support required to move the projects from agreements to implementation, while ensuring that all parties remain accountable for their commitments.
“The agreements before us bring together vision, expertise, capital and execution capacity,” the President said, welcoming DP World and acknowledging the financial advisers and other investment partners involved in the projects.
The proposed Gateway Deep Seaport, located in Ogun Waterside, is planned to feature a four-kilometre berth and an 18-metre draft. The Federal Government said the facility is expected to help decongest the Lagos port corridor, ease pressure on Apapa and Tin Can Island ports and reduce costs and delays for importers and exporters.
The port is also expected to accommodate larger, deeper-draft vessels and provide a trade and logistics gateway supporting Nigeria’s participation in the African Continental Free Trade Area, which serves a continental market of approximately 1.4 billion people.
The Ogun State Blue Marine Special Economic Zone is proposed to cover 10,000 hectares and is intended to integrate port operations with manufacturing, processing and export-oriented activities.
Tinubu said the zone was already attracting interest from global manufacturing and industrial companies, adding that imported inputs could be transformed into finished goods while Nigerian raw materials could be processed for export.
“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 facilitate road, rail and power connectivity, strengthen investment security and the maritime domain, and work to remove unnecessary bureaucratic obstacles while respecting existing laws and regulatory requirements.
He also identified the Lagos-Calabar Coastal Highway as important to the commercial viability of the corridor, noting that the 28-kilometre Ogun section of the proposed 700-kilometre highway was scheduled for completion before the end of 2026.
Tinubu said the projects would also form part of a wider strategic corridor near the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project, linking the industrial cluster with Nigeria’s energy and gas-export ambitions.
The President said strengthening the maritime economy remained part of the Federal Government’s broader economic diversification strategy and urged the Ogun State Government and investors to move quickly from the signing stage to implementation.
Ogun State’s delegation included Secretary to the State Government Tokunbo Talabi and commissioners responsible for finance, works, industry, trade and investment, and transport. Federal and industry officials at the ceremony included Minister of Marine and Blue Economy Adegboyega Oyetola, Nigerian Ports Authority Managing Director Dr. Abubakar Dantsoho and DP World Group Chief Executive Officer Yuvraj Narayan.
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