President Bola Ahmed Tinubu has assured domestic and foreign investors of the Federal Government’s commitment to regulatory clarity, policy stability and a predictable business environment to support long-term investments in Nigeria.
The President gave the assurance in Paris, France, at the signing of Memoranda of Understanding between the Ogun State Government and DP World for the development of the Ogun State Blue Marine Special Economic Zone and the Gateway Deep Seaport.
Governor Dapo Abiodun led the Ogun State delegation to the ceremony, which was attended by senior government officials and representatives of DP World, SkyKapital and other stakeholders.
Among those present were the Minister of Marine and Blue Economy, Adegboyega Oyetola; Nigeria’s Ambassador to France, Emmanuel Ayodele Oke; Managing Director and Chief Executive Officer of the Nigerian Ports Authority, Dr Abubakar Dantsoho; DP World Group Chief Executive Officer, Yuvraj Narayan; and SkyKapital Managing Director, Karim Noujaim.
The President described the agreements as a significant milestone in Nigeria’s efforts to attract foreign direct investment, expand productive capacity and position the country as a major hub for maritime trade, logistics, manufacturing and exports.
“The agreements before us bring together vision, expertise, capital and execution capacity. I particularly welcome DP World, one of the world’s leading port and logistics operators,” Tinubu said.
He assured investors that the Federal Government would provide the necessary regulatory and institutional support to ensure seamless implementation of the projects, while holding all parties accountable for their commitments.
According to the President, the proposed Gateway Deep Seaport at Ogun Waterside will feature a four-kilometre berth and an 18-metre draft, enabling it to accommodate larger vessels and helping to decongest the Lagos port corridor.
He said the project would ease pressure on Apapa and Tin Can Island ports while reducing costs and delays for importers, exporters and consumers.
The port is also expected to provide a competitive trade and logistics gateway for the African Continental Free Trade Area (AfCFTA), giving Nigeria an opportunity to serve a continental market of about 1.4 billion people.
The Ogun State Blue Marine Special Economic Zone, which is proposed to cover 10,000 hectares, is expected to complement the deep seaport by supporting manufacturing, processing and export-oriented activities.
Tinubu disclosed that the agreements envisage an initial investment of more than $7 billion in the Nigerian economy, with the projects projected to create over 50,000 direct jobs and additional indirect employment opportunities when fully developed.
He described the investments as a practical demonstration of economic diversification and industrialisation, commending Governor Abiodun and the Ogun State Government for securing the land, structuring the investment framework and reducing project risks for investors.
“This is cooperative federalism as envisaged by our Constitution: subnational vision supported by federal facilitation,” the President said.
He added that the Federal Government would facilitate road, rail and power connectivity, strengthen investment security and the maritime domain, and remove unnecessary bureaucratic obstacles.
Tinubu further disclosed that the Blue Marine Special Economic Zone was already attracting interest from leading global manufacturing and industrial companies.
“Within the zone, imported inputs will be transformed into finished goods, Nigerian raw materials will be processed for export and, most importantly, our young men and women will find dignified, productive and sustainable employment,” he said.
He described the Gateway Deep Seaport as critical infrastructure for the viability of the special economic zone, stressing that an integrated port and industrial zone could help build a broader economic ecosystem.
The President said the Federal Government would continue to work with Ogun State and other subnational governments to facilitate investments that create value for Nigerians while ensuring compliance with the country’s laws and regulatory requirements.
He identified the maritime economy as a key component of the administration’s broader economic diversification strategy and urged the Ogun State Government and investors to proceed expeditiously with implementation.
Tinubu also highlighted the importance of the Lagos–Calabar Coastal Highway to the commercial viability of the corridor, noting that the 28-kilometre Ogun State section of the 700-kilometre highway is scheduled for completion before the end of 2026.
According to him, the highway will provide a vital transport link to the proposed port and special economic zone, connecting them more effectively to Lagos, the Nigerian hinterland and markets across Africa.
He added that the projects would anchor a broader strategic corridor near the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project, linking the industrial cluster to Nigeria’s energy and gas-export ambitions.
