The Ogun State Government and global ports and logistics operator DP World have signed Memoranda of Understanding (MoUs) for projects expected to attract more than $7 billion in initial investment, placing the proposed Gateway Deep Seaport and Ogun State Blue Marine Special Economic Zone at the centre of Nigeria’s expanding maritime and industrial investment drive. The agreements were signed in Paris on Thursday in the presence of President Bola Ahmed Tinubu, who said the projects could help address longstanding infrastructure and logistics challenges.

The proposed Ogun Deep Seaport, located in Ogun Waterside, is planned with a four-kilometre berth and an 18-metre draft, giving it the capacity to handle larger vessels. The Federal Government says the facility is expected to provide an alternative gateway to the congested Lagos port corridor, easing pressure on the Apapa and Tin Can Island ports while potentially reducing logistics costs and delays for importers and exporters.

Beyond the port, the investment package includes the 10,000-hectare Ogun State Blue Marine Special Economic Zone, designed to support manufacturing, processing, logistics and export-oriented businesses. The projects are projected to create more than 50,000 direct jobs, with additional employment expected through related economic activities. Tinubu said integrating the port with the industrial zone could strengthen Nigeria’s non-oil exports and connect businesses more efficiently to African and global markets.

The agreements also place transportation infrastructure at the heart of the proposed investment corridor. According to the Presidency, the 28-kilometre Ogun section of the Lagos-Calabar Coastal Highway is expected to provide a key connection between the port, the industrial zone, Lagos and the wider Nigerian hinterland. The emerging corridor is also expected to link with planned maritime and energy infrastructure, including the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project.

For Nigeria’s market and maritime economy, the significance of the $7 billion Ogun Deep Seaport investment will ultimately depend on how quickly the agreements translate into construction, connectivity and commercial operations. Tinubu pledged federal regulatory and institutional support, while urging the Ogun Government and investors to move from the signing stage to implementation. The development is therefore being positioned not simply as a port project, but as part of a broader industrial, logistics and trade corridor aimed at attracting capital and expanding Nigeria’s role in regional commerce.

source: peoplegazette