President Bola Ahmed Tinubu has assured domestic and foreign investors of the Federal Government’s commitment to providing regul...
President Bola Ahmed Tinubu has assured domestic and foreign investors of the Federal Government’s commitment to providing regulatory clarity, policy stability and a predictable business environment for long-term investments in Nigeria.
The President gave the assurance in Paris, France, on September 24, 2026, 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.
The agreements were signed in the presence of senior Nigerian government officials and representatives of DP World and other investment partners.
Governor Dapo Abiodun led the Ogun State delegation to the ceremony, which included the Secretary to the State Government, Tokunbo Talabi, and commissioners responsible for finance, works, industry, trade and investment, and transport, as well as a representative of the host community.
Also present were the Minister of Marine and Blue Economy, Adegboyega Oyetola; Nigeria’s Ambassador to France, Emmanuel Ayodele Oke; the Managing Director and Chief Executive Officer of the Nigerian Ports Authority, Dr Abubakar Dantsoho; DP World Group Chief Executive Officer, Yuvraj Narayan; SkyKapital Managing Director, Karim Noujaim; and DP World’s Senior Vice President for Business Development, Sub-Saharan Africa, Mohammed Rashid Ismail.
According to a statement issued by Bayo Onanuga, Special Adviser to the President on Information and Strategy, Tinubu described the agreements as a significant milestone in Nigeria’s efforts to attract foreign direct investment, expand productive capacity and strengthen the country’s position in maritime trade, logistics, manufacturing and exports.
“The agreements before us bring together vision, expertise, capital and execution capacity,” the President said, while welcoming DP World and acknowledging the financial advisers, investors and other partners involved in the projects.
Tinubu assured investors that the Federal Government would provide the necessary regulatory and institutional support to facilitate the implementation of the projects.
He also said the government would hold all parties accountable for their commitments under the agreements.
The proposed Gateway Deep Seaport at Ogun Waterside is planned to have a four-kilometre berth and an 18-metre draft. According to the President, the facility is expected to help decongest the Lagos port corridor and reduce pressure on the Apapa and Tin Can Island ports.
Tinubu said the deeper-draft port would be capable of accommodating larger vessels used in global commerce and could provide a trade and logistics gateway for the African Continental Free Trade Area.
The Ogun State Blue Marine Special Economic Zone is proposed to cover 10,000 hectares.
The President said the agreements envisage an initial investment of more than $7 billion in Nigeria, adding that the projects are projected to create more than 50,000 direct jobs at full development, alongside additional indirect employment opportunities.
He also said the projects were expected to contribute to non-oil export earnings by supporting manufacturing and other productive activities across the value chain.
Tinubu commended Governor Abiodun and the Ogun State Government for securing the land, structuring the investment framework and reducing project risks for investors.
He described the arrangement as an example of cooperation between the Federal Government and a subnational government, saying the Federal Government would support the projects through road, rail and power connectivity, investment security and measures to reduce bureaucratic obstacles.
The President said the Blue Marine Special Economic Zone had already attracted interest from global manufacturing and industrial companies.
According to him, the zone is expected to facilitate the transformation of imported inputs into finished products, processing of Nigerian raw materials for export and the creation of employment opportunities for young Nigerians.
Tinubu described the Gateway Deep Seaport as critical infrastructure for the viability of the proposed economic zone, noting that the integration of a port with a special economic zone could support broader economic development.
He said strengthening Nigeria’s maritime economy remained part of the Federal Government’s wider economic diversification strategy.
The President further linked the projects to the Lagos-Calabar Coastal Highway, saying the 28-kilometre Ogun State section of the 700-kilometre highway, which he said was scheduled for completion before the end of 2026, would provide an important transport connection to the proposed port and economic zone.
According to him, the projects would also form part of a broader strategic corridor close to the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project, linking the industrial cluster with Nigeria’s energy and gas-export ambitions.
Tinubu urged the Ogun State Government and investors to sustain the momentum generated by the signing and proceed with the implementation of the projects in accordance with Nigeria’s laws and regulatory requirements.
“Nigeria lies at the heart of West African trade. Yet, our strategic advantage has been constrained by port congestion, inadequate draft capacity and logistics bottlenecks that increase the cost of doing business. These projects respond directly to those constraints,” the President said.
He added that the projects represented an integrated approach to infrastructure development and economic expansion, describing them as part of the Federal Government’s efforts to strengthen Nigeria’s position as a regional trade and logistics hub.
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