Tinubu in Paris Backs $7bn Ogun Deep Seaport Deal with DP World for Jobs and Trade
Paris/Abuja—September 24, 2026—In a significant boost for Nigeria’s maritime and industrial ambitions, President Bola Ahmed Tinubu on Thursday witnessed the signing of Memoranda of Understanding in Paris between the Ogun State Government and DP World, one of the world’s leading ports and logistics operators.
The agreements cover the development of the Gateway Deep Seaport at Ogun Waterside and the Ogun State Blue Marine Special Economic Zone.
Tinubu used the occasion to assure both domestic and foreign investors of continued regulatory clarity, policy stability, and a predictable business environment to support long-term investments.
What the Deals Entail
Governor Dapo Abiodun led the Ogun State delegation, which included the Secretary to the State Government and key commissioners.
Also present were the Minister of Marine and Blue Economy, Adegboyega Oyetola; Nigeria’s Ambassador to France; the Managing Director of the Nigerian Ports Authority, Dr. Abubakar Dantsoho; and senior executives from DP World and financial advisers SkyKapital.
The proposed Gateway Deep Seaport will feature a four-kilometer berth and an 18-meter draft. Officials say it is designed to handle larger modern vessels, ease chronic congestion at the Apapa and Tin Can Island ports in Lagos, and reduce costs and delays for importers, exporters, and consumers.
The accompanying Blue Marine Special Economic Zone is planned across approximately 10,000 hectares and will integrate manufacturing, processing, logistics, and export activities.
Together, the projects are projected to attract more than $7 billion in initial investment. At full development, they are expected to generate over 50,000 direct jobs and many more indirect opportunities while boosting non-oil export earnings.
Tinubu’s Message on Investment and Cooperation
Addressing the gathering, President Tinubu described the agreements as a tangible demonstration of economic diversification and industrialization under the Renewed Hope Agenda.
He commended Governor Abiodun and the people of Ogun State for securing the land, structuring the investment framework, and reducing risks for global partners.
“This is cooperative federalism as envisaged by our Constitution: subnational vision supported by federal facilitation,” Tinubu said.
He pledged federal support for road, rail and power connectivity, stronger investment security, and the removal of unnecessary bureaucratic obstacles.
The President also linked the projects to the broader coastal corridor, noting that the 28-kilometer Ogun section of the Lagos–Calabar Coastal Highway—scheduled for completion before the end of the year—will provide vital access.
The emerging industrial cluster is expected to connect with plans for a Nigerian Navy operating base and the OK LNG project.
Why It Matters
Nigeria has long struggled with port congestion, limited draft capacity, and high logistics costs that raise the price of doing business.
Officials argue that a deep-water facility integrated with a large special economic zone can help position the country as a more competitive gateway for the African Continental Free Trade Area market of roughly 1.4 billion people.
Tinubu emphasized that a port alone moves cargo, but a port linked to an industrial zone helps build an economy. He urged all parties to move quickly from agreement to implementation and said the Federal Government would hold stakeholders accountable for their commitments.
The Paris signing marks another chapter in efforts to expand Nigeria’s blue economy and attract major foreign investment into critical infrastructure.
As the projects advance, attention will turn to timely execution, community benefits, and the delivery of the promised jobs and economic gains for Ogun State and the wider nation.
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