Ogun, DP World sign $7bn-plus MoUs for Deep Seaport, Blue Marine SEZ
Projects expected to attract more than $7bn in initial investment, create over 50,000 direct jobs The Ogun State Government and DP World MEA FZE have signed Memoranda of Understanding (MoUs) for the development of the Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone, with the projects expected to attract more […] Ogun, DP World sign $7bn-plus MoUs for Deep Seaport, Blue…
Ogun State Government and DP World MEA FZE have inked Memoranda of Understanding for the development of the Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone. The projects are expected to draw over $7 billion in initial investment and generate more than 50,000 direct jobs. The signing ceremony took place in Paris, France, with President Bola Ahmed Tinubu, Minister of Marine and Blue Economy Adegboyega Oyetola, and NPA Director-General Dr. Abubakar Dantsoho in attendance.
The agreements aim to alleviate trade bottlenecks, bolster logistics, and bolster Nigeria's manufacturing and export prowess. The Gateway Deep Sea Port, set to be built on Ogun Waterside, will boast a 4-kilometer berth and 18-meter draft, enabling it to accommodate larger vessels and alleviate congestion on the Lagos port corridor.
The deep seaport will be linked to the 10,000-hectare Blue Marine Special Economic Zone, which is poised to promote manufacturing, processing, and export-oriented industries. Once completed, the Ogun section of the Lagos-Calabar Coastal Highway will provide a crucial link between the port, industrial zone, Lagos, the Nigerian hinterland, and broader African markets.
Written by urgent.news from Daily Post Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
