Ogun Secures $7bn DP World Deal for Deep Sea Port, 50,000 Jobs
The Ogun State Government and global ports and logistics company DP World have signed Memoranda of Understanding (MoUs) for the development of the proposed Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone.
The agreements, signed in Paris, France, are expected to attract more than $7 billion in initial investment and create over 50,000 direct jobs when fully developed, according to the Federal Government and Ogun State authorities.
President Bola Ahmed Tinubu witnessed the signing alongside Ogun State Governor Dapo Abiodun, Minister of Marine and Blue Economy Adegboyega Oyetola, Nigerian Ports Authority Managing Director Abubakar Dantsoho and representatives of DP World and other partners.
Proposed Gateway Deep Sea Port
The Gateway Deep Sea Port is planned for Ogun Waterside and is expected to feature a four-kilometre berth and an 18-metre draft, allowing it to handle larger vessels.
According to President Tinubu, the port is intended to help reduce pressure on the Lagos port corridor, particularly Apapa and Tin Can Island ports, while reducing delays and logistics costs for importers and exporters.
The facility is also being positioned as a potential gateway for trade under the African Continental Free Trade Area (AfCFTA), connecting businesses to markets across Africa.
10,000-Hectare Economic Zone
The proposed Ogun State Blue Marine Special Economic Zone will cover about 10,000 hectares and is designed to complement the port by supporting manufacturing, processing, logistics and export-oriented businesses.
The Federal Government says the zone is intended to allow imported inputs to be processed into finished products while Nigerian raw materials can be processed for export.
Tinubu said the combination of the port and economic zone could create an integrated platform linking maritime trade with manufacturing and other economic activities.
Infrastructure and Implementation
The proposed development is also expected to connect with the Ogun section of the Lagos-Calabar Coastal Highway. Tinubu described the 28-kilometre Ogun section as an important transport link between the proposed port, economic zone, Lagos and the wider Nigerian market.
The President said the Federal Government would support road, rail and power connectivity, investment security and regulatory processes while holding the parties involved accountable for their commitments.
Governor Dapo Abiodun described the agreement as a major step in Ogun State’s long-standing plans to develop a deep seaport and strengthen its position in maritime trade, manufacturing and logistics.
However, the projects remain at the agreement and development stage. The projected investment and job figures are tied to full development, meaning actual delivery will depend on implementation of the agreements and construction of the planned facilities.
The development represents a significant new investment framework for Ogun’s coastline, with the proposed port and economic zone intended to connect maritime infrastructure with industrial production, logistics and export activities.
