Tinubu Unveils $7bn Ogun Deep Seaport Deal, Projects 50,000 Jobs
By Nafiu Muhammad Lema
President Bola Ahmed Tinubu has assured local and foreign investors of regulatory clarity, policy stability and a predictable business environment as the Ogun State Government and DP World signed agreements for the development of the Gateway Deep Seaport and Ogun State Blue Marine Special Economic Zone.
The agreements, signed in Paris, France, on Thursday, September 24, 2026, are expected to attract an initial investment of more than $7 billion and create over 50,000 direct jobs upon full development.
According to a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, Governor Dapo Abiodun led the Ogun State delegation to the signing ceremony, which was attended by senior government officials, investors and representatives of DP World.
Speaking at the event, President Tinubu described the agreements as a significant milestone in Nigeria’s efforts to attract foreign direct investment, expand industrial capacity and strengthen its position as a major maritime trade and logistics hub.
“These agreements envisage an initial investment of more than $7 billion in the Nigerian economy. At full development, the projects are projected to create more than 50,000 direct jobs and many additional indirect opportunities,” Tinubu said.
The proposed Gateway Deep Seaport, to be located in Ogun Waterside, will feature a four-kilometre berth and an 18-metre draft, enabling it to accommodate larger vessels engaged in international trade.
The project is designed to ease congestion at Lagos ports, particularly Apapa and Tin Can Island, while reducing transportation costs and delays for importers, exporters and consumers.
The Ogun State Blue Marine Special Economic Zone, which will occupy approximately 10,000 hectares, is expected to attract manufacturing and industrial companies, promote non-oil exports and generate employment opportunities.
Tinubu assured investors that the Federal Government would provide the necessary regulatory and institutional support to facilitate the implementation of the projects.
“We will facilitate road, rail and power connectivity; strengthen investment security and our maritime domain; and remove unnecessary bureaucratic obstacles,” he stated.
The President also highlighted the importance of the Lagos–Calabar Coastal Highway to the commercial viability of the projects, noting that the 28-kilometre Ogun State section is scheduled for completion before the end of 2026.
He explained that the highway would connect the proposed seaport and industrial zone to Lagos, other parts of Nigeria and markets across Africa.
Tinubu further disclosed that the projects would form part of a broader industrial corridor incorporating the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project.
He commended Governor Abiodun for securing land, developing the investment framework and reducing risks for prospective investors.
The President urged the Ogun State Government and its development partners to move quickly from signing agreements to implementing the projects, stressing that the Federal Government would hold all parties accountable for their commitments.
The signing ceremony was also attended by the Minister of Marine and Blue Economy, Adegboyega Oyetola; Managing Director of the Nigerian Ports Authority, Dr Abubakar Dantsoho; and senior executives of DP World and SkyKapital.
