President Bola Tinubu has assured domestic and foreign investors that his administration will provide regulatory clarity, policy stability and a predictable business environment to support long-term investments in Nigeria.
Tinubu gave the assurance in Paris, France, on Thursday as the Ogun State Government and global ports and logistics operator DP World signed Memoranda of Understanding for more than $7 billion in initial investments to develop the Gateway Deep Seaport and Ogun State Blue Marine Special Economic Zone.
The President said the Federal Government would provide the regulatory and institutional support required to move the projects from agreements to implementation while holding the parties accountable for their commitments.
“The agreements before us bring together vision, expertise, capital and execution capacity. I particularly welcome DP World, one of the world’s leading port and logistics operators,” Tinubu said.
“I also acknowledge our financial advisers, Sky Capital, and all the investors and partners whose commitment has brought us to this important stage.”
Tinubu described the agreements as a significant milestone in Nigeria’s efforts to attract foreign direct investment, expand productive capacity and position the country as a major hub for maritime trade, logistics, manufacturing and exports.
“These agreements envisage an initial investment of more than $7 billion in the Nigerian economy. At full development, the projects are projected to create more than 50,000 direct jobs and many additional indirect opportunities, while generating substantial non-oil export earnings from Nigerians’ creativity and productivity across the value chain,” he said.
“This is economic diversification made tangible. This is industrialisation made visible. This is Renewed Hope in action.”
The proposed Gateway Deep Seaport at Ogun Waterside will have a four-kilometre berth and an 18-metre draft, enabling it to accommodate larger, deeper-draft vessels used in modern global commerce.
According to the Presidency, the port is expected to help decongest the Lagos port corridor, ease pressure on the Apapa and Tin Can Island ports and reduce costs and delays for importers, exporters and consumers.
It is also intended to provide a competitive trade and logistics gateway for the African Continental Free Trade Area, while the proposed Ogun State Blue Marine Special Economic Zone will occupy about 10,000 hectares.
Tinubu commended Ogun State Governor Dapo Abiodun and his administration for securing the land, structuring the investment framework and reducing risks for prospective investors.
“This is cooperative federalism as envisaged by our Constitution: subnational vision supported by federal facilitation,” he said.
“We will facilitate road, rail and power connectivity; strengthen investment security and our maritime domain; and remove unnecessary bureaucratic obstacles.”
Tinubu said the economic zone was already attracting interest from global manufacturing and industrial companies, adding that it would provide a platform for imported inputs and Nigerian raw materials to be transformed into finished products.
“The Gateway Deep Seaport is the critical infrastructure that will support the zone’s viability. A port moves cargo; a port integrated with a special economic zone helps to build an economy. Each reinforces the other,” he said.
The President also identified the Lagos–Calabar Coastal Highway as central to the commercial viability of the projects, saying the 28-kilometre Ogun section of the 700-kilometre highway was scheduled for completion before the end of 2026.
“Without it, the coastline would have remained rich in potential but without access. With it, the zone and port will connect more effectively to Lagos, the Nigerian hinterland and markets across the African continent,” Tinubu said.
He added that the projects would anchor a broader strategic corridor near the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project, connecting the industrial cluster to Nigeria’s energy and gas-export ambitions.
“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,” Tinubu said.
He urged the Ogun State Government and investors to proceed expeditiously with implementation, reiterating that the Federal Government would work with states to remove unnecessary investment bottlenecks while maintaining regulatory requirements.
Abiodun led the Ogun State delegation to the signing ceremony. Also present were Minister of Marine and Blue Economy Adegboyega Oyetola; Nigeria’s Ambassador to France, Emmanuel Ayodele Oke; Nigerian Ports Authority Managing Director Abubakar Dantsoho; DP World Group Chief Executive Officer Yuvraj Narayan; and other government and private-sector officials.
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