Tinubu unveils $7bn Ogun deep seaport, special economic zone investment package

President Bola Tinubu has unveiled an investment package exceeding $7 billion to develop the Ogun State Blue Marine Special Economic Zone and Gateway Deep Seaport. Speaking in Paris during the signing of MoUs between the Ogun State Government and DP World, Tinubu emphasized the projects as a significant step towards bolstering Nigeria's maritime economy and attracting foreign investment.

He assured investors of the Federal Government's commitment to providing regulatory clarity, policy stability, and a predictable business environment. The Gateway Deep Seaport, with a four-kilometre berth and 18-metre draft, aims to alleviate congestion at Lagos ports and accommodate larger vessels. The Ogun State Blue Marine Special Economic Zone, covering 10,000 hectares, will be linked to the seaport, supporting manufacturing, processing, exports, and logistics.

These initiatives are expected to inject over $7 billion into the economy, create more than 50,000 direct jobs, and contribute to economic diversification. Tinubu also stressed the importance of the Lagos-Calabar Coastal Highway, which will connect the projects to the Nigerian Navy Operating Base and Dockyard, as well as the OK LNG Project.