Tinubu Upbeat as Ogun, DP World Sign $7bn Deal for Port, Blue Marine Zone - THISDAYLIVE

President Bola Tinubu yesterday expressed optimism that the proposed Gateway Deep Seaport and Ogun State Blue Marine Special Economic Zone would transform the economic landscape of Ogun State and strengthen Nigeria’s capacity for maritime trade, manufacturing and exports.

Tinubu spoke in Paris, France, where he witnessed the signing of Memoranda of Understanding (MoUs) between the Ogun State Government and DP World MEA FZE for the development of the two projects, which are expected to attract more than $7 billion in initial investment and create over 50,000 direct jobs when fully developed.

The President described the agreements as more than a ceremonial commitment, saying they represented the beginning of an integrated economic corridor linking maritime infrastructure with industrial production, logistics, energy and transportation.“We are doing more than signing agreements; we are laying the foundation for a new chapter in Nigeria’s development,” Tinubu said.

The projects, according to the President, are intended to address longstanding constraints around port congestion, inadequate draft capacity and logistics bottlenecks that have raised the cost of doing business in Nigeria.The Gateway Deep Seaport, planned for Ogun Waterside, will have a proposed 4-kilometre berth and an 18-metre draft, which Tinubu said would enable it to accommodate larger, deeper-draft vessels while helping to decongest the Lagos port corridor.Tinubu specifically identified Apapa and Tin Can Island ports as beneficiaries of the additional capacity, saying the Ogun facility would reduce costs and delays for importers and exporters.

Beyond serving as a port, Tinubu said the project would provide a competitive trade and logistics gateway for the African Continental Free Trade Area (AFCTA), giving Nigeria an opportunity to serve a continental market of approximately 1.4 billion people.

The proposed 10,000-hectare Blue Marine Special Economic Zone, he added, would complement the port by providing an industrial base for manufacturing, processing and export-oriented activities.“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 relationship between the two projects was central to their economic significance, stressing that the port was being conceived as part of an integrated industrial ecosystem rather than simply a cargo-handling facility.“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 also identified the Lagos-Calabar Coastal Highway as critical to the commercial viability of the emerging corridor.According to him, the 28-kilometre Ogun section of the 700-kilometre highway, scheduled for completion before the end of the year, would provide a vital transport link between the port and zone, Lagos, the Nigerian hinterland and the wider African market.

“Without reliable access, the coastline’s economic potential would remain difficult to realise,” he said.Tinubu further linked the projects to the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project, saying the developments would form part of a wider strategic corridor connecting maritime infrastructure with Nigeria’s energy and gas-export ambitions.

He said the agreements brought together vision, expertise, capital and execution capacity, while specifically welcoming DP World as a global port and logistics operator.The President also acknowledged Sky Capital, the financial advisers, investors and other partners involved in bringing the projects to the agreement stage.

But Tinubu stressed that the signing must be followed by implementation, saying the federal government would hold itself and all parties accountable. “Today we make firm commitments; from tomorrow, implementation must gather pace,” he said.“Agreements must lead to action; commitments must translate into investment; investment must deliver projects; and projects must create jobs, opportunity and prosperity,” he added.

He said the more than $7 billion initial investment envisaged for the projects, together with the projected creation of over 50,000 direct jobs at full development, would make the initiative a practical expression of the federal government’s economic diversification and industrialisation drive.

“This is economic diversification made tangible. This is industrialisation made visible. This is Renewed Hope in action,” he said.Tinubu commended Ogun State Governor, Dapo Abiodun, for securing the land, structuring the investment framework and reducing project risks for global investors.

He described the initiative as an example of cooperative federalism, with a subnational government providing the vision and the federal government facilitating projects with wider national economic implications.He assured investors that the federal government would provide regulatory clarity and policy stability, facilitate road, rail and power connectivity, strengthen investment security and the maritime domain, and remove unnecessary bureaucratic obstacles.Earlier, Abiodun described the signing as a defining moment in the economic history of Ogun State and Nigeria’s engagement with the global economy.

The governor said the deep seaport vision had remained largely unrealised for more than three decades, crediting Tinubu with providing the political leadership that had helped move the project from aspiration towards reality.“It has taken the foresight, courage and dogged leadership of President Bola Ahmed Tinubu to move it from aspiration to reality,” Abiodun said.

He commended the Minister of Marine and Blue Economy, Adegboyega Oyetola, the Nigerian Ports Authority and other federal institutions for their support, saying the project demonstrated alignment between the federal government’s Renewed Hope Agenda and Ogun State’s development programme.

Abiodun said the deep seaport was part of a wider strategy to deepen trade, attract investment, improve connectivity and strengthen Nigeria’s maritime economy.“Our ambition is not merely to berth ships. We are building a gateway for Ogun and Nigeria’s productive strength to reach Africa and the world,” he said.

The governor said the project would stimulate small and medium-sized enterprises, strengthen supply chains, expand export capacity and attract foreign direct investment, while creating opportunities across maritime services, logistics, manufacturing and technology.

He also described the Blue Marine Special Economic Zone as a platform for capital, technology, innovation and talent, pointing to DP World’s Jebel Ali Free Zone as an example of the potential of integrating ports, logistics and special economic zones.Abiodun said the development would form part of a wider multimodal infrastructure network incorporating the Gateway International Airport, dry ports, the coastal highway and the deep seaport. He, however, stressed that the real test would be implementation.

“History will judge us not by the elegance of documents signed, but by the transformation that follows. Ceremonies proclaim intentions; only implementation creates prosperity,” he said.Abiodun assured DP World and other partners that Ogun was ready for business, partnership and delivery, while stressing the importance of host-community participation, environmental sustainability and security.

Aside from Tinubu and Abiodun, the signing was witnessed by the  Managing Director of the Nigerian Ports Authority (NPA), Abubakar Dantsoho, alongside representatives of DP World, Sky Capital and other partners.

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