DP World Signs MOUs For Proposed Port And Economic Zone In Ogun State, Nigeria

DP World, alongside the Ogun State Government and Ogun Deep Sea Port Company Ltd, has inked two Memorandums of Understanding (MOUs) to develop a state-of-the-art deep-sea port and special economic zone in Nigeria. The agreements, signed by His Excellency Prince Dapo Abiodun, Governor of Ogun State, alongside Yuvraj Narayan, Group Chief Executive Officer of DP World, and President Bola Ahmed Tinubu, mark a significant strategic partnership.

The proposed 10,000-hectare complex would integrate a deep-sea port with a special economic zone along the Lagos-Calabar Coastal Highway, positioning Nigeria as a formidable maritime and trade hub. The initiative aims to bolster Nigeria's status as a key player in African trade and industry, leveraging Africa's largest consumer market and its burgeoning potential for industrial growth.

Governor Abiodun lauded the MOUs, stating they "formalise the beginning of two strategic projects that will reshape Nigeria’s economic landscape, creating over 50,000 direct employment opportunities." Yuvraj Narayan of DP World echoed the sentiment, affirming the company's enduring commitment to Nigeria and its ambition to bolster the nation's trade and connectivity through advanced infrastructure and logistics solutions.

DP World's Chief Executive Officer for Africa, Mohammed Akoojee, emphasized the project's role as a "strategic new gateway for Nigerian trade," streamlining businesses' access to both African and global markets through integrated port infrastructure, logistics, and an economic zone. With DP World's extensive footprint in Nigeria, employing over 7,000 individuals across sectors like healthcare and consumer industries, and its substantial investments in African trade infrastructure, this development signifies a bold step towards a more integrated and globally connected Nigerian economy.