The Ogun State Government and global ports operator DP World have signed Memoranda of Understanding for the development of the Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone.
The agreements, signed in Paris on Thursday, are expected to attract more than $7 billion in initial investment and create over 50,000 direct jobs when fully developed.
President Bola Tinubu witnessed the signing alongside the Minister of Marine and Blue Economy, Adegboyega Oyetola, and the Managing Director of the Nigerian Ports Authority, Abubakar Dantsoho.
Tinubu said the projects would help address port congestion and other logistics problems while expanding Nigeria’s manufacturing and export capacity.
“We are doing more than signing agreements; we are laying the foundation for a new chapter in Nigeria’s development,” he said.
The Gateway Deep Sea Port, planned for Ogun Waterside, will have a four-kilometre berth and an 18-metre draft, allowing it to handle larger vessels and ease pressure on the Lagos port corridor.
It will be integrated with the proposed 10,000-hectare Blue Marine Special Economic Zone, which will support manufacturing, processing and export-oriented industries.
Tinubu said, “A port moves cargo; a port integrated with a special economic zone helps to build an economy.”
The president also said the 28-kilometre Ogun section of the Lagos-Calabar Coastal Highway would provide a key link to the port and industrial zone.
Ogun Gov. Dapo Abiodun said the project would strengthen trade, attract investment and expand opportunities in logistics, manufacturing and technology.
“Our ambition is not merely to berth ships.
"We are building a gateway for Ogun and Nigeria’s productive strength to reach Africa and the world,” Abiodun said.
The governor added that the success of the project would ultimately depend on implementation, saying, “Ceremonies proclaim intentions; only implementation creates prosperity.”
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