By By Elizabeth Ugbo
President Bola Ahmed Tinubu on Thursday in Paris, France, assured domestic and foreign investors of regulatory clarity, policy stability and a predictable business environment as Ogun State and DP World signed agreements for the development of the Gateway Deep Seaport and Ogun State Blue Marine Special Economic Zone.
Tinubu Assures Investors of Government Support
The President spoke during the signing ceremony attended by Ogun State Governor Dapo Abiodun and senior Nigerian government officials.
The agreements bring together the Ogun State Government, DP World, SkyKapital and other investment partners.
Tinubu said the Federal Government would provide regulatory and institutional support for the projects.
He also pledged to ensure that all parties meet their commitments throughout the implementation process.
According to the President, the agreements represent a major step toward attracting foreign direct investment into Nigeria.
He said the projects would also expand productive capacity and strengthen Nigeria’s position in maritime trade.
Ogun Deep Sea Port to Boost Maritime Trade
The proposed Gateway Deep Seaport will sit at Ogun Waterside and feature a four-kilometre berth.
The port will also have an 18-metre draft to accommodate larger vessels used in global trade.
Tinubu said the project would help decongest the Lagos port corridor.
It would also reduce pressure on Apapa and Tin Can Island ports.
Consequently, importers, exporters and consumers could benefit from lower logistics costs and fewer delays.
The port will also provide a trade gateway for the African Continental Free Trade Area.
Nigeria could therefore strengthen its access to a continental market of about 1.4 billion people.
$7 Billion Investment Planned for Ogun Projects
The Ogun State Blue Marine Special Economic Zone will cover about 10,000 hectares.
The projects are expected to attract an initial investment of more than $7 billion.
At full development, they could create over 50,000 direct jobs.
They are also expected to generate many additional indirect employment opportunities.
Furthermore, the projects could increase non-oil export earnings through various production activities.
Tinubu described the investment as a practical step toward economic diversification and industrialisation.
He commended Governor Dapo Abiodun for securing the land and structuring the investment framework.
Special Economic Zone to Attract Manufacturers
Tinubu said leading global manufacturing and industrial companies have shown interest in the proposed economic zone.
The zone will support the transformation of imported inputs into finished products.
It will also allow Nigerian raw materials to undergo processing for export.
According to Tinubu, the development will create productive employment opportunities for young Nigerians.
He described the deep sea port as critical infrastructure for the economic zone.
“A port moves cargo; a port integrated with a special economic zone helps to build an economy,” he said.
Federal Government to Improve Infrastructure
The President said the Federal Government would facilitate road, rail and power connections to the projects.
He also pledged stronger investment security and improvements within Nigeria’s maritime domain.
In addition, the government will work to remove unnecessary bureaucratic obstacles.
Tinubu said the Federal Government would continue working with Ogun State and other subnational governments.
However, he stressed that investors must operate within Nigeria’s laws and regulatory requirements.
Lagos-Calabar Highway to Support Ogun Port
Tinubu identified the Lagos–Calabar Coastal Highway as critical to the project’s commercial success.
He said the 28-kilometre Ogun section should provide an important transport connection for the port and economic zone.
The section forms part of the wider 700-kilometre coastal highway project.
According to the President, improved road access will connect the development with Lagos and Nigeria’s hinterland.
It will also strengthen connections with markets across the African continent.
Projects to Support Energy and Gas Ambitions
Tinubu said the developments would form part of a wider strategic economic corridor.
The corridor will connect the industrial cluster with the proposed Nigerian Navy Operating Base and Dockyard.
It will also link with the OK LNG Project and Nigeria’s broader energy ambitions.
The President said stronger maritime infrastructure remains central to the government’s economic diversification strategy.
He urged Ogun State and its investment partners to move quickly from signing the agreements to implementation.
