Tinubu Unveils $7 Billion Ogun Maritime Project

Nigerian President Bola Tinubu unveiled a $7 billion investment package on Thursday in Paris, France, for the development of the Ogun State Blue Marine Special Economic Zone and the Gateway Deep Seaport.

Speaking during the signing of the Memoranda of Understanding between the Ogun State Government and global logistics operator DP World, Tinubu framed the initiatives as a major step toward expanding Nigeria’s maritime capacity and attracting foreign capital.

He assured domestic and international investors that the Nigerian government will provide regulatory clarity, policy stability, and seamless institutional support to transition these agreements into full implementation.

“The agreements before us bring together vision, expertise, capital and execution capacity,” President Tinubu stated, welcoming DP World to the venture.

Non-oil Export Earnings

He highlighted that the projects will attract over $7 billion in initial investment, generate non-oil export earnings, and create more than 50,000 direct jobs alongside numerous indirect employment opportunities.

Describing the strategic framework, Tinubu remarked, “This is economic diversification made tangible. This is industrialisation made visible. This is renewed hope in action.”

The proposed Gateway Deep Seaport at Ogun Waterside features a four-kilometre berth and an 18-meter draft, allowing it to accommodate larger vessels, serve trade across the African Continental Free Trade Area, and relieve heavy congestion at Lagos’s Apapa and Tin Can Island ports.

Integrated directly with the port, the 10,000-hectare Ogun State Blue Marine Special Economic Zone will host manufacturing, processing, and logistics hubs.

Special Economic Zone

“A port moves cargo; a port integrated with a special economic zone helps to build an economy,” Tinubu noted, adding that the Nigerian government will facilitate road, rail, power, and security connections while eliminating bureaucratic hurdles.

The president commended Ogun State Governor Dapo Abiodun and his administration for securing the land and structuring the investment framework to minimise risk for global investors.

He linked the venture directly to the 700-kilometre Lagos–Calabar Coastal Highway, noting that its 28-kilometre Ogun section will finish before the end of the year and provide vital transport connectivity.

Emphasising the urgency of addressing historical trade barriers, Tinubu observed, “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.”