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President Bola Ahmed Tinubu has assured domestic and foreign investors of the Federal Government’s commitment to regulatory clarity, policy stability and a predictable business environment for long-term investments in Nigeria.
Tinubu gave the assurance in Paris, France, during the signing of Memoranda of Understanding between the Ogun State Government and global ports and logistics operator, DP World, for the development of the Ogun State Blue Marine Special Economic Zone and Gateway Deep Seaport.
The Ogun State delegation to the ceremony was led by Governor Dapo Abiodun, with senior state government officials and a representative of the host community in attendance.
Also present were the Minister of Marine and Blue Economy, Adegboyega Oyetola; Nigeria’s Ambassador to France, Emmanuel Ayodele Oke; Managing Director of the Nigerian Ports Authority, Abubakar Dantsoho; and senior executives of DP World and SkyKapital.
Tinubu described the agreements as a significant step towards attracting foreign direct investment, expanding productive capacity and positioning Nigeria as a major hub for maritime trade, logistics, manufacturing and exports.
“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,” the President said.
He assured investors that the Federal Government would provide the regulatory and institutional support required to move the projects from agreements to implementation.
Tinubu also said the government would hold all parties accountable for their commitments and facilitate road, rail and power connectivity, investment security and maritime security while removing unnecessary bureaucratic obstacles.
The proposed Gateway Deep Seaport at Ogun Waterside is designed with a four-kilometre berth and an 18-metre draft. The Federal Government said the facility would help decongest the Lagos port corridor and ease pressure on the Apapa and Tin Can Island ports.
According to the President, the deeper-draft facility would accommodate larger vessels and provide a competitive trade gateway to support Nigeria’s participation in the African Continental Free Trade Area.
The proposed Ogun State Blue Marine Special Economic Zone will occupy about 10,000 hectares and is expected to support manufacturing, processing and export activities.
Tinubu said the agreements envisaged an initial investment of more than $7 billion, with the projects projected to create over 50,000 direct jobs when fully developed, alongside additional indirect employment opportunities.
He commended the Ogun State Government for securing the land and structuring the investment framework, describing the initiative as an example of cooperation between the Federal Government and subnational governments.
“This is cooperative federalism as envisaged by our Constitution: subnational vision supported by federal facilitation,” he said.
The President said the special economic zone had already attracted interest from global manufacturing and industrial companies, adding that imported inputs would be transformed into finished products while Nigerian raw materials would be processed for export.
He described the proposed deep seaport as critical infrastructure for the viability of the industrial zone, noting that an integrated port and special economic zone could create a broader economic ecosystem.
Tinubu said the projects formed part of the Federal Government’s broader strategy to strengthen Nigeria’s maritime economy and diversify the nation’s economic base beyond oil.
He identified port congestion, inadequate draft capacity and logistics bottlenecks as some of the constraints affecting the country’s competitiveness in regional and global trade.
The President said the Lagos-Calabar Coastal Highway would be central to the commercial viability of the corridor, noting that the 28-kilometre Ogun section of the planned 700-kilometre highway was scheduled for completion before the end of the year.
According to him, the road would improve connectivity between the proposed port and industrial zone, Lagos, the Nigerian hinterland and markets across Africa.
Tinubu added that the projects would form part of a wider strategic corridor around the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project.
He urged the Ogun State Government and investors to sustain the momentum generated by the agreements and proceed with implementation in line with Nigeria’s laws and regulatory requirements.
“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. This is nation-building in its most practical form,” he said.
