PRESIDENT TINUBU SUPERVISES AGREEMENT SIGNING IN PARIS

President Bola Ahmed Tinubu on Thursday witnessed the signing of Memoranda of Understanding between the Ogun State Government and DP World in Paris, France, for the development of the Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone.  

The agreements are expected to attract more than $7 billion in initial investment and generate over 50,000 direct jobs when fully developed, alongside additional indirect employment opportunities and increased non-oil export earnings.

The proposed Gateway Deep Sea Port, to be located in Ogun Waterside, is planned with a four-kilometre berth and an 18-metre draft, enabling it to accommodate larger vessels and potentially ease pressure on the Lagos port corridor, including Apapa and Tin Can Island ports.  

The port will be integrated with the proposed 10,000-hectare Blue Marine Special Economic Zone, which is designed to support manufacturing, processing, logistics and export-oriented industries. The Federal Government says the integrated development is intended to strengthen Nigeria’s position in regional and international trade.  

President Tinubu assured domestic and foreign investors that the Federal Government would provide regulatory clarity, policy stability and a predictable business environment. He also pledged federal support for road, rail and power connectivity, investment security and the maritime sector, while calling for swift implementation of the agreements.  

Tinubu further identified the 28-kilometre Ogun section of the Lagos-Calabar Coastal Highway as an important transport link for connecting the proposed port and economic zone with Lagos, the Nigerian hinterland and wider African markets. He also linked the emerging corridor to other strategic developments, including the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project.  

The President commended Ogun State Governor Dapo Abiodun for securing the land and structuring the investment framework, describing the partnership between the Federal Government, Ogun State and private investors as an example of cooperative federalism.  

The signing was attended by Minister of Marine and Blue Economy Adegboyega Oyetola, Nigerian Ports Authority Managing Director Abubakar Dantsoho, DP World Group CEO Yuvraj Narayan, and other government and private-sector representatives.