Ogun State and DP World sign agreements in Paris for major port and economic zone projects designed to attract investment, create jobs and ease pressure on Lagos ports.

President Bola Ahmed Tinubu has expressed support for the proposed development of the Ogun State Blue Marine Special Economic Zone and Gateway Deep Seaport, following the signing of Memoranda of Understanding (MoUs) between the Ogun State Government and global ports operator, DP World.

The agreements were signed in Paris, France, with the projects expected to attract an initial investment of more than $7 billion and generate over 50,000 direct jobs, alongside additional indirect employment opportunities when fully developed.

Ogun State Governor Dapo Abiodun led the state government delegation at the signing ceremony.

The proposed Gateway Deep Seaport, to be located in Ogun Waterside, is planned to have a four-kilometre berth and an 18-metre draft. The facility is expected to provide an additional maritime gateway for businesses and reduce the heavy pressure currently placed on major ports in Lagos.

The Federal Government said the project could help decongest the Lagos port corridor, particularly the Apapa and Tin Can Island ports, while reducing transportation delays and associated costs for importers and exporters.

Beyond the seaport, the proposed Blue Marine Special Economic Zone is planned to cover approximately 10,000 hectares.

The economic zone is designed to accommodate manufacturing, processing and export-oriented businesses, creating an industrial ecosystem around the proposed port and potentially attracting both local and international investors.

Speaking on the agreements, President Tinubu assured investors of the Federal Government's commitment to providing a stable regulatory and policy environment for the projects.

He also pledged institutional support and efforts to facilitate critical infrastructure, including road, rail and power connections needed to support the development.

Tinubu further linked the projects to the Lagos–Calabar Coastal Highway, noting that the planned 28-kilometre Ogun section of the approximately 700-kilometre coastal highway would provide an important transportation link to the proposed port and economic zone.

The President urged the Ogun State Government and the investors to sustain the momentum generated by the agreements and move towards implementation in accordance with Nigeria's laws and regulatory requirements.

If completed as proposed, the projects would add significant port and industrial capacity to Ogun State while creating a new corridor for trade, manufacturing and exports.

The development also forms part of broader efforts to expand Nigeria's transport and logistics infrastructure and improve the movement of goods across the country.