Tinubu witnesses $7bn Ogun Deep Seaport deal in Paris, pledges support for investors
President Bola Ahmed Tinubu witnessed the signing of Memoranda of Understanding (MoU) between the Ogun State Government and global ports and logistics operator, DP World, for the development of the Gateway Deep Seaport and the Ogun State Blue Marine Special Economic Zone in Paris, France.
The deal, valued at over $7 billion in initial investments, aims to transform Nigeria’s maritime economy and industrial capacity. President Tinubu, who attended the signing alongside the Minister of Marine and Blue Economy, Adegboyega Oyetola, and the Director-General of the Nigerian Ports Authority, Dr. Abubakar Dantsoho, assured investors of regulatory clarity and policy stability.
This is cooperative federalism as envisaged by our Constitution: subnational vision supported by federal facilitation.
The President promised federal support for essential infrastructure, including road, rail, and power connectivity, to ensure the success of the project. He commended Ogun State Governor Dapo Abiodun for his administration’s efforts in securing the land, structuring the investment framework, and reducing risks for prospective investors.
Governor Abiodun credited President Tinubu with providing the political leadership necessary to revive the deep seaport vision, which had remained unrealized for over three decades. He emphasized that the project is part of a broader strategy to improve connectivity and strengthen Nigeria’s trade.
Our ambition is not merely to berth ships. We are building a gateway for Ogun and Nigeria’s productive strength to reach Africa and the world.
The Governor further noted that the development would integrate with a wider multimodal infrastructure network, including the Gateway International Airport, dry ports, and the coastal highway. He added that the project is expected to stimulate SMEs, strengthen supply chains, and create 50,000 direct jobs.
History will judge us not by the elegance of documents signed, but by the transformation that follows.