Working Vacation: Tinubu Oversees Ogun State’s $7B Deep Sea Port Deal With DP World

PARIS, France—Nigeria’s infrastructure landscape is set for a massive transformation following a landmark $7 billion agreement signed between the Ogun State Government and DP World to develop the Ogun State Blue Marine Special Economic Zone and the Gateway Deep Seaport.

President Bola Ahmed Tinubu, who witnessed the signing ceremony in Paris, assured both domestic and foreign investors of the Federal Government’s unwavering commitment to regulatory clarity, policy stability, and a predictable business environment.

The mega-project is projected to create over 50,000 direct jobs and significantly boost Nigeria’s non-oil export earnings.

A Strategic Maritime Game-Changer

The proposed deep-sea port will be built at Ogun Waterside, featuring a four-kilometre berth and an 18-metre draft. This design will allow the facility to accommodate the world’s largest modern cargo vessels, positioning Nigeria to effectively serve the 1.4 billion-person African Continental Free Trade Area (AfCFTA) market.

Crucially, the new port will decongest the heavily burdened Lagos port corridor, easing long-standing pressure on the Apapa and Tin Can Island ports while reducing costs and delays for international traders.

“These agreements envisage an initial investment of more than $7 billion in the Nigerian economy,” President Tinubu stated. “This is economic diversification made tangible. This is industrialisation made visible.”

Integrated Economic Ecosystem

The port will work hand-in-hand with the Ogun State Blue Marine Special Economic Zone, a massive industrial hub spanning 10,000 hectares. The zone is designed to attract top global manufacturing firms to process raw materials and assemble finished goods directly within Nigeria.

“A port moves cargo; a port integrated with a special economic zone helps to build an economy,” the President added, praising Ogun State Governor Dapo Abiodun for securing the land and structuring a low-risk investment framework.

Federal Support and Regional Connectivity

To ensure the project’s long-term success, the Federal Government has committed to accelerating road, rail, and power connectivity.

A critical piece of this logistical puzzle is the Lagos–Calabar Coastal Highway. The 28-kilometre Ogun State section of this 700-kilometre highway is scheduled for completion before the end of this year, providing an immediate transport link connecting the zone to Lagos and the Nigerian hinterland.

The development will also anchor a broader strategic industrial corridor, sitting adjacent to the proposed Nigerian Navy Operating Base and Dockyard as well as the Olokola Liquefied Natural Gas (OK LNG) project.

High-Powered Delegation

Governor Dapo Abiodun led the Ogun State delegation, which included the Secretary to the State Government, Tokunbo Talabi, alongside commissioners for finance, works, industry, transport, and local host community representatives.

Global maritime and federal leaders also attended the signing.