Ogun State has taken a major step toward its long-planned deep seaport and industrial zone.
The state government and DP World have signed agreements for two major projects in Paris, France.
The projects could attract more than $7 billion in initial investment and create over 50,000 direct jobs.
President Bola Tinubu witnessed the signing alongside Ogun State Governor Dapo Abiodun and other officials.
The agreements cover the Gateway Deep Sea Port and the 10,000-hectare Blue Marine Special Economic Zone.
The proposed port will be built in Ogun Waterside with a four-kilometre berth and an 18-metre draft.
It is expected to handle larger vessels while easing pressure on the busy Lagos port corridor.
The Blue Marine zone will support manufacturing, processing and export activities.
Tinubu said the projects could help address major transport and logistics challenges affecting businesses.
“We are doing more than signing agreements; we are laying the foundation for a new chapter in Nigeria’s development,” the President said.
He said the Federal Government would support road, rail and power connections around the emerging corridor.
The President also promised regulatory clarity and policy stability for investors.
“These agreements envisage an initial investment of more than $7 billion in the Nigerian economy. At full development, the projects are projected to create more than 50,000 direct jobs and many additional indirect opportunities, while generating substantial non-oil export earnings from Nigerians’ creativity and productivity across the value chain.”
Tinubu said the port would work closely with the special economic zone to support industrial growth.
“A port moves cargo; a port integrated with a special economic zone helps to build an economy. Each reinforces the other,” he said.
Governor Abiodun described the agreement as a major moment for Ogun State and Nigeria.
“It has taken the foresight, courage and dogged leadership of President Bola Ahmed Tinubu to move it from aspiration to reality,” the governor said.
Abiodun said the project would boost trade, attract investment and create opportunities across several sectors.
“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,” he said.
The Ogun deep seaport project now moves closer to implementation after years of plans for the state’s coastal development.
