Tinubu Unveils $7bn Ogun Deep Seaport, Special Economic Zone Investment Package

President Bola Tinubu has unveiled an investment package of more than $7 billion for the development of the Gateway Deep Seaport and the Ogun State Blue Marine Special Economic Zone.

The President witnessed the signing of Memoranda of Understanding between the Ogun State Government and global ports and logistics operator DP World in Paris, France, on Thursday.

The projects are expected to attract more than $7 billion in initial investment and create over 50,000 direct jobs when fully developed, with additional indirect employment opportunities.

Tinubu said the Federal Government would provide regulatory and institutional support to ensure the projects move from agreements to implementation, while assuring domestic and foreign investors of policy stability and a predictable business environment.

The proposed Gateway Deep Seaport, located in Ogun Waterside, will feature a four-kilometre berth and an 18-metre draft. The facility is expected to accommodate larger vessels, ease congestion along the Lagos port corridor and reduce logistics costs and delays for businesses.

The port will be integrated with the proposed 10,000-hectare Blue Marine Special Economic Zone, which is designed to support manufacturing, processing, logistics and export-oriented industries.

Tinubu said the combination of the port and economic zone would strengthen Nigeria’s non-oil exports and support greater industrial production by connecting cargo movement with manufacturing and processing activities.

The President also said the Federal Government would facilitate road, rail and power connectivity to the projects while strengthening investment security and reducing bureaucratic obstacles.

The Lagos-Calabar Coastal Highway is expected to provide an important transport connection to the emerging industrial and maritime corridor. Tinubu said the 28-kilometre Ogun section of the highway was scheduled for completion before the end of the year.

The projects are also expected to connect with other strategic developments, including the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project.

Tinubu commended Ogun State Governor Dapo Abiodun for securing the land and structuring the investment framework for the projects.

He urged the Ogun State Government and investors to maintain momentum and move quickly towards implementation, stressing that the agreements should translate into actual investments, infrastructure, jobs and economic opportunities.

The Gateway Deep Seaport and Blue Marine Special Economic Zone are expected to form part of a broader industrial and logistics corridor linking Ogun with Lagos, the Nigerian hinterland and wider African markets.