Tinubu Signs $7bn Ogun Deep Seaport Deal With DP World in Paris

During an official Paris visit, President Bola Ahmed Tinubu finalized a significant infrastructure investment commitment. On September 24, the Nigerian leader and DP World, operating ports and logistics globally, inked memoranda of understanding aimed at developing two complementary Ogun State ventures.

These initiatives—the Gateway Deep Seaport coupled with Ogun State's Blue Marine Special Economic Zone—are anticipated to mobilize initial capital exceeding $7 billion when fully functional. At Ogun Waterside, the Gateway Deep Seaport will be built, featuring a four-kilometre berth structure.

Together, these projects seek to bolster Nigeria's maritime infrastructure and alleviate congestion affecting Lagos ports. Industrial operations tied to maritime commerce and port-related activities will benefit from the special economic zone component.

Announcements delivered at the Paris ceremony indicated the combined initiative would yield more than 50,000 direct jobs when entirely developed and active. Tinubu seized this moment to pledge assurances to both local and foreign investors, emphasizing government commitment to stable regulatory environments and dependable policy direction in this sector.

Through private-sector collaboration, Nigeria aims to tackle maritime logistics bottlenecks with this agreement. DP World, which runs port infrastructure across numerous global regions, will develop and manage the Ogun installations per the signed arrangement.

Participating entities included the Ogun State Government as well as the federal government structure.