DP World signs deal for major Nigeria port projects as part of $3bn Africa investment

DP World, a Dubai-based ports operator, has signed preliminary agreements for two significant port and economic zone projects in Nigeria, as part of its $3 billion investment strategy in Africa. The deals, signed in Ogun State alongside Nigerian President Bola Tinubu, aim to develop the Ogun Deep Sea Port and the Ogun State Blue Marine and Special Economic Zone, spanning 10,000 hectares.

These projects are expected to create approximately 50,000 jobs and support Nigeria's future trade and connectivity with infrastructure and logistics capabilities. DP World's CEO, Yuvraj Narayan, emphasized the company's long-term commitment to Nigeria and its ambition to help Nigerian businesses grow. Nigeria, Africa's third-largest economy, boasts a projected GDP of $377.37 billion for 2026, with a growth rate of about 4.1%.

The country's logistics sector, however, faces challenges due to infrastructure deficits, flawed policies, and high operational costs. DP World, which handles 110 million 20-foot-equivalent units and moves 10% of global daily trade, has invested about $10 billion in a logistics network spanning 85 countries. The company has implemented measures to mitigate disruptions, including expanded inland connectivity and recent acquisitions to expand its road freight network.