PRESIDENT TINUBU SUPERVISES AGREEMENT SIGNING IN PARIS
President Bola Ahmed Tinubu has reaffirmed the Federal Government’s commitment to providing regulatory clarity, policy stability and a predictable business environment to attract and sustain long-term domestic and foreign investment in Nigeria.
The President gave the assurance in Paris during the signing of a Memorandum of Understanding (MoU) between the Ogun State Government and DP World, a global ports and logistics company. The agreement covers the proposed development of the Ogun State Blue Marine Special Economic Zone and the Gateway Deep Seaport.
Ogun State Governor, Dapo Abiodun, led the state’s delegation to the signing ceremony. President Tinubu said the agreements bring together the necessary combination of vision, technical expertise, capital and execution capacity required to advance major infrastructure and economic projects.
He assured investors that the Federal Government would provide the necessary regulatory and institutional support to ensure that the projects move from the agreement stage to implementation.
Gateway Deep Seaport
The proposed Gateway Deep Seaport is planned for Ogun Waterside and is expected to feature a four-kilometre berth and an 18-metre draft. The facility is expected to provide an additional maritime gateway for cargo movement and reduce pressure on existing ports in Lagos.
The project is particularly expected to help decongest the Apapa and Tin Can Island port corridors, potentially reducing delays and logistics costs for importers, exporters and consumers.
By providing additional port capacity, the project could also strengthen the movement of goods between Nigeria’s industrial centres and international markets.
10,000-Hectare Economic Zone
The proposed Ogun State Blue Marine Special Economic Zone will occupy about 10,000 hectares. The zone is expected to support industrial, commercial and logistics activities and create an environment where businesses can operate closer to major transport and maritime infrastructure.
The combination of the deep seaport and special economic zone is intended to create an integrated economic corridor linking maritime transportation, trade, investment, manufacturing and logistics.
Federal Government Support
President Tinubu also pledged that the Federal Government would continue working with Ogun State and other subnational governments to remove unnecessary bottlenecks that could discourage investment.
He stressed that the government’s support would remain within the framework of Nigeria’s laws and regulatory requirements, while ensuring that legitimate investments can move forward efficiently.
The development is therefore being positioned as part of broader efforts to expand Nigeria’s infrastructure, improve the efficiency of its ports and logistics system, attract private capital and create new opportunities for businesses and investors.