President Bola Tinubu has backed the development of the proposed Gateway Deep Seaport and Ogun State Blue Marine Special Economic Zone, saying the projects would transform Ogun State’s economic landscape while strengthening Nigeria’s maritime, manufacturing and export capacity.
The projects, covered by Memoranda of Understanding signed between the Ogun State Government and DP World MEA FZE in Paris, France, are expected to attract more than $7 billion in initial investment and generate over 50,000 direct jobs when fully developed.
Tinubu, who witnessed the signing, described the agreements as the foundation of an integrated economic corridor linking maritime infrastructure with industrial production, logistics, energy and transportation.
“We are doing more than signing agreements; we are laying the foundation for a new chapter in Nigeria’s development,” the President said.
The Gateway Deep Seaport, planned for Ogun Waterside, is expected to feature a four-kilometre berth and an 18-metre draft, allowing it to accommodate larger vessels and provide additional capacity to the Lagos port corridor.
Tinubu said the project would help address longstanding challenges associated with port congestion, inadequate draft capacity and logistics bottlenecks, particularly around Apapa and Tin Can Island ports, while reducing costs and delays for importers and exporters.
Beyond maritime operations, the President said the port would provide a competitive trade and logistics gateway to the African Continental Free Trade Area, potentially positioning Nigeria to serve a continental market of about 1.4 billion people.
The proposed 10,000-hectare Blue Marine Special Economic Zone is expected to complement the port by providing an industrial base for manufacturing, processing and export-oriented businesses.
Tinubu said the zone would support the transformation of imported inputs into finished goods and the processing of Nigerian raw materials for export, while creating employment opportunities for young Nigerians.
“A port moves cargo; a port integrated with a special economic zone helps to build an economy. Each reinforces the other,” the President said.
He identified the 28-kilometre Ogun section of the 700-kilometre Lagos-Calabar Coastal Highway as critical to the success of the emerging economic corridor, saying its planned completion before the end of the year would improve connectivity between the port, industrial zone, Lagos and the Nigerian hinterland.
Tinubu also linked the projects to the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project, saying the developments would strengthen the connection between maritime infrastructure, energy, gas exports and industrial activity.
The President said the more than $7 billion investment and projected 50,000 direct jobs represented a practical component of the Federal Government’s economic diversification and industrialisation agenda.
He commended Ogun State Governor, Dapo Abiodun, for securing the land, structuring the investment framework and reducing risks for investors, describing the initiative as an example of cooperative federalism.
Tinubu assured investors of regulatory clarity and policy stability, promising Federal Government support for road, rail and power connectivity, investment security and the maritime domain.
He, however, warned that the signing of the agreements must be followed by implementation, stressing that commitments should translate into actual investments, completed projects, jobs and economic opportunities.
Earlier, Abiodun described the agreements as a defining moment in the economic history of Ogun State and Nigeria’s engagement with the global economy, noting that the deep seaport vision had remained largely unrealised for more than three decades.
The governor credited Tinubu with providing the political leadership that helped move the project from aspiration towards reality, while commending the Minister of Marine and Blue Economy, Adegboyega Oyetola, the Nigerian Ports Authority and other Federal Government institutions for their support.
Abiodun said the seaport and special economic zone would stimulate small and medium-sized enterprises, strengthen supply chains, expand export capacity and attract foreign direct investment across maritime services, logistics, manufacturing and technology.
He said the development would form part of a wider multimodal infrastructure network incorporating the Gateway International Airport, dry ports, the coastal highway and the deep seaport, while stressing that successful implementation, host-community participation, environmental sustainability and security would be critical to achieving the projects’ objectives.
