Tinubu witnesses $7bn Ogun deep seaport deal in Paris, pledges support for investors

President Bola Tinubu has assured domestic and foreign investors that the federal government would continue to provide regulatory clarity, policy stability and a predictable business environment to support long-term investment in Nigeria. The president spoke in Paris, France, at the signing of Memoranda of Understanding between the Ogun State Government and DP World, one of the world’s leading ports and logistics operators, to develop the Ogun State Blue Marine Special Economic Zone and the Gateway Deep Seaport.

Speaking at the signing ceremony, Tinubu said the agreements envisage an initial investment of more than $7 billion in the Nigerian economy. He stated, “This is Renewed Hope in action. I commend Governor Dapo Abiodun, and the Government and people of Ogun State, for securing the land, structuring the investment framework and reducing project risks for global investors.”

This is cooperative federalism as envisaged by our Constitution: subnational vision supported by federal facilitation. 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.

Tinubu assured investors of regulatory clarity and policy stability, pledging federal support for road, rail and power connectivity, investment security and the maritime domain. He said the Federal Government would hold all parties accountable, stressing that the agreements must translate into concrete investments, jobs and economic opportunities.

Ogun State Governor Prince Dapo Abiodun described the signing as a watershed moment in the state’s economic history, crediting Tinubu with reviving a deep seaport vision that had gone unrealised for more than three decades. Abiodun said the deep seaport was part of a broader strategy to deepen trade, attract investment, improve connectivity and strengthen Nigeria’s maritime economy.

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. History will judge us not by the elegance of documents signed, but by the transformation that follows.

Abiodun said the development would form part of a wider multimodal infrastructure network incorporating the Gateway International Airport, dry ports, the coastal highway and the deep seaport. At full development, the projects are expected to create more than 50,000 direct jobs and many additional indirect opportunities.