President Bola Ahmed Tinubu has assured domestic and foreign investors of the Federal Government’s commitment to regulatory clarity, policy stability and a predictable business environment to support long-term investment in Nigeria.
The President spoke in Paris, France, during the signing of Memoranda of Understanding between the Ogun State Government and DP World for the development of the Ogun State Blue Marine Special Economic Zone and the Gateway Deep Seaport.
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President Tinubu said the agreements brought together investment capital, expertise and execution capacity, describing them as a significant milestone in Nigeria’s efforts to attract foreign direct investment and expand productive capacity.
He assured investors of the Federal Government’s regulatory and institutional support to ensure the projects move seamlessly from agreements to implementation, while stressing that all parties would be held accountable for their commitments.
The proposed Gateway Deep Seaport at Ogun Waterside is expected to have a four-kilometre berth and an 18-metre draft, with the capacity to accommodate larger vessels and help decongest the Lagos port corridor.
According to the President, the port would ease pressure on the Apapa and Tin Can Island ports while reducing costs and delays for importers, exporters and consumers.
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He said the project would also provide a competitive trade and logistics gateway to the African Continental Free Trade Area, potentially connecting Nigeria more effectively to a continental market of approximately 1.4 billion people.
The Ogun State Blue Marine Special Economic Zone is proposed to cover 10,000 hectares, with the agreements envisaging an initial investment of more than seven billion dollars and the potential creation of over 50,000 direct jobs, alongside additional indirect employment opportunities.
President Tinubu said the zone was already attracting interest from global manufacturing and industrial companies, adding that it would support the transformation of imported inputs into finished goods and the processing of Nigerian raw materials for export.
He said the Federal Government would facilitate road, rail and power connectivity, strengthen investment security and the maritime domain, and remove unnecessary bureaucratic obstacles while respecting existing laws and regulatory requirements.
The President also said the 28-kilometre Ogun section of the 700-kilometre Lagos-Calabar Coastal Highway, scheduled for completion before the end of 2026, would provide a vital transport link to the proposed port and economic zone.
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He said the projects would form part of a broader strategic corridor linked to the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project, supporting Nigeria’s maritime, industrial, energy and gas-export ambitions.
Governor Dapo Abiodun led the Ogun State delegation to the ceremony, which was attended by the Minister of Marine and Blue Economy, Adegboyega Oyetola; the Nigerian Ambassador to France, Emmanuel Ayodele Oke; NPA Managing Director, Dr Abubakar Dantsoho; and DP World Group Chief Executive Officer, Yuvraj Narayan, among other officials and investors.