Ogun and DP World sign agreements for proposed $7bn port and economic zone
Ogun State and DP World have signed agreements covering a proposed deep-sea port and a 10,000-hectare special economic zone. The projects are expected to attract more than $7bn in initial investment and create over 50,000 direct jobs, with federal backing for connectivity and implementation.
The Ogun State Government and DP World MEA FZE have signed memoranda of understanding covering the development of the Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone. The agreements were signed in Paris in the presence of President Bola Tinubu, Marine and Blue Economy Minister Adegboyega Oyetola and Nigerian Ports Authority Director-General Abubakar Dantsoho. A statement by the governor’s special adviser on information and strategy, Kayode Akinmade, said the framework involved the Federal Government, Ogun State, DP World, financial advisers and other private-sector partners.
The projects are expected to attract more than $7 billion in initial investment and create over 50,000 direct jobs. Tinubu said they were intended to ease trade bottlenecks, improve logistics and support manufacturing and exports. The proposed port at Ogun Waterside is planned with a four-kilometre berth and an 18-metre draft.
Its proponents say those features would allow it to handle larger vessels, reduce pressure on the Lagos port corridor and cut delays and costs for traders. The port would be linked to the proposed 10,000-hectare Blue Marine Special Economic Zone, intended for manufacturing, processing and export-oriented industries. Tinubu said the zone would help turn imported inputs into finished goods and process Nigerian raw materials for export.
The President also identified the 28-kilometre Ogun section of the Lagos-Calabar Coastal Highway as a key connection between the port, the zone, Lagos and wider markets. He promised federal support for road, rail and power links, investment security and the maritime sector, and said the parties would be held to their commitments. Governor Dapo Abiodun described the signing as a major step in reviving Ogun’s long-standing coastal development plans.
He said the projects could support small businesses, supply chains, foreign investment and employment across maritime services, logistics, manufacturing and technology. He also stressed host-community participation, environmental sustainability and security.
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