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From Juliana Taiwo-Obalonye, Abuja
President Bola Tinubu has assured investors in the proposed $7 billion-plus Gateway Deep Seaport and Ogun State Blue Marine Special Economic Zone of regulatory clarity, policy stability and Federal Government support to ensure the projects move from agreements to implementation.
The proposed investments are expected to combine deep-sea shipping, manufacturing, logistics, processing and export activities, with the Federal Government positioning the projects as part of efforts to expand Nigeria’s productive capacity and reduce dependence on oil.
Tinubu gave the assurance yesterday in Paris, France, at the signing of Memoranda of Understanding between the Ogun State Government and DP World for the development of the Gateway Deep Seaport and the 10,000-hectare Blue Marine Special Economic Zone.
The President said the projects were expected to attract an initial investment of more than $7 billion and create over 50,000 direct jobs when fully developed, in addition to indirect employment opportunities and non-oil export earnings.
He said the Federal Government would provide the necessary regulatory and institutional support and hold all parties accountable for their commitments.
“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 said the projects represented a significant milestone in efforts to attract foreign direct investment, expand productive capacity and strengthen Nigeria’s position as a hub for maritime trade, logistics, manufacturing and exports.
The proposed Gateway Deep Seaport at Ogun Waterside will have a four-kilometre berth and an 18-metre draft.
According to Tinubu, the port will help decongest the Lagos port corridor and reduce pressure on the Apapa and Tin Can Island ports, while reducing costs and delays for importers, exporters and consumers.
He said the facility would be capable of accommodating larger vessels with deeper drafts used in modern global commerce and provide an additional gateway for trade under the African Continental Free Trade Area.
Tinubu said the proposed Blue Marine Special Economic Zone would complement the port by providing an industrial base for manufacturing, processing and exports.
He said the zone was already attracting interest from major 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.
Tinubu said the port and economic zone were designed to function as an integrated economic system rather than as separate projects.
“The Gateway Deep Seaport is the critical infrastructure that will support the zone’s viability. A port moves cargo; a port integrated with a special economic zone helps to build an economy. Each reinforces the other,” he said.
The President said the Federal Government would facilitate road, rail and power connectivity required to support the projects and strengthen investment security and Nigeria’s maritime domain.
He specifically identified the 700-kilometre Lagos-Calabar Coastal Highway, including its 28-kilometre Ogun section, as critical to the commercial viability of the emerging corridor.
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Tinubu said the Ogun section was scheduled for completion before the end of the year, adding that it would connect the port and economic zone to Lagos, the Nigerian hinterland and markets across the continent.
“Without it, the coastline would have remained rich in potential but without access. With it, the zone and port will connect more effectively to Lagos, the Nigerian hinterland and markets across the African continent,” he said.
He also linked the industrial corridor to the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project, saying the developments would support Nigeria’s energy and gas-export ambitions.
On investment regulations, Tinubu said the Federal Government would work with Ogun State and other subnational governments to remove unnecessary bureaucratic obstacles while ensuring compliance with existing laws and regulatory requirements.
“We will facilitate road, rail and power connectivity; strengthen investment security and our maritime domain; and remove unnecessary bureaucratic obstacles,” he said.
Tinubu described the projects as a practical expression of the administration’s economic diversification agenda.
“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,” he said.
“This is economic diversification made tangible. This is industrialisation made visible. This is Renewed Hope in action.”
The President commended Ogun State Governor Dapo Abiodun for securing the land, structuring the investment framework and reducing project risks for global investors.
He described the project as an example of cooperation between the Federal Government and a subnational government.
“This is cooperative federalism as envisaged by our Constitution: subnational vision supported by federal facilitation,” Tinubu said.
Tinubu urged Ogun State and the investors to sustain the momentum generated by the signing and proceed expeditiously with implementation.
He said strengthening Nigeria’s maritime economy remained a key component of the Federal Government’s economic diversification strategy.
“Nigeria lies at the heart of West African trade. Yet, our strategic advantage has been constrained by port congestion, inadequate draft capacity and logistics bottlenecks that increase the cost of doing business. These projects respond directly to those constraints,” he said.
“This is how modern infrastructure should be delivered: as an integrated ecosystem, operated to world-class standards and supported by a serious and responsible government.”
Abiodun led the Ogun State delegation to the signing ceremony. The delegation included the Secretary to the State Government, Tokunbo Talabi; commissioners responsible for finance, works, industry, trade and investment, and transport; and a representative of the host community.
Also present were the Minister of Marine and Blue Economy, Adegboyega Oyetola; Nigeria’s Ambassador to France, Ayodele Oke; Managing Director and Chief Executive Officer of the Nigerian Ports Authority, Abubakar Dantsoho; DP World Group Chief Executive Officer, Yuvraj Narayan; Managing Director of SkyKapital, Karim Noujaim; and DP World Senior Vice President, Business Development, Sub-Saharan Africa, Mohammed Rashid Ismail.
