The proposed Gateway Deep Seaport and Ogun State Blue Marine Special Economic Zone are set to attract an initial investment of more than $7 billion and create over 50,000 direct jobs when fully developed, under agreements signed between Ogun State and global ports operator DP World in Paris, France, on Thursday.
President Bola Tinubu, who witnessed the signing, said the projects would strengthen Nigeria’s maritime economy, expand productive capacity and position the country as a major hub for trade, logistics, manufacturing and exports.
In a statement, the Presidential Spokesperson, Mr. Bayo Onanuga, said the investment agreements were expected to generate substantial non-oil export earnings while creating additional indirect employment opportunities across the value chain.
Tinubu assured domestic and foreign investors that the Federal Government would continue to provide regulatory clarity, policy stability and a predictable business environment to support long-term investment.
“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.
The proposed Gateway Deep Seaport at Ogun Waterside will feature a four-kilometre berth and an 18-metre draft, with the capacity to accommodate larger vessels and help decongest the Lagos port corridor, particularly Apapa and Tin Can Island ports.
The port is also expected to provide a competitive trade gateway to the African Continental Free Trade Area, serving a continental market of about 1.4 billion people.
The Blue Marine Special Economic Zone, proposed to cover 10,000 hectares, will support manufacturing and export-oriented processing, with Nigerian raw materials processed for export and imported inputs transformed into finished goods.
Tinubu said the Federal Government would facilitate road, rail and power connectivity, strengthen investment security and the maritime domain, and remove unnecessary bureaucratic obstacles.
He also linked the projects to the Lagos-Calabar Coastal Highway, saying the 28-kilometre Ogun section of the 700-kilometre highway, scheduled for completion before the end of the year, would provide a vital transport link to the port and industrial zone.
The President said the projects would form part of a broader strategic corridor connecting the proposed Nigerian Navy Operating Base and Dockyard with the OK LNG Project, supporting the country’s maritime, industrial and energy ambitions.
