Nigeria’s drive to attract large-scale infrastructure investment received a major boost on Thursday as the Ogun State Government and global logistics giant DP World signed agreements for projects expected to attract more than $7 billion in investment and create thousands of jobs.
The agreements, signed in Paris, cover the development of the Ogun State Blue Marine Special Economic Zone and the proposed Gateway Deep Seaport, two flagship projects expected to transform trade, logistics and industrial activities in the country.
Speaking at the signing ceremony, President Bola Tinubu assured domestic and international investors that his administration would continue to provide regulatory certainty, policy stability and a business-friendly environment capable of supporting long-term investments.
According to the President, the projects represent a practical demonstration of Nigeria’s economic diversification agenda and broader efforts to accelerate industrialisation under the Renewed Hope Agenda.
Tinubu noted that the investments are projected to generate more than 50,000 direct jobs when fully developed while also boosting non-oil exports and strengthening Nigeria’s position as a major trade hub in West Africa.
He commended Ogun State Governor Dapo Abiodun for laying the groundwork for the investment by securing the required land, structuring the investment framework and reducing risks for potential investors.
Describing the initiative as an example of cooperative federalism, the President said collaboration between federal and state authorities remains essential for unlocking economic opportunities across the country.
The proposed Gateway Deep Seaport, located in Ogun Waterside, will feature a four-kilometre berth and an 18-metre draft designed to accommodate large vessels. Stakeholders believe the facility will help reduce pressure on Lagos ports, particularly Apapa and Tin Can Island, while improving cargo movement and regional trade competitiveness.
The accompanying special economic zone is planned across 10,000 hectares and is expected to attract manufacturing, logistics and export-oriented businesses.
Analysts say the projects could significantly enhance Nigeria’s participation in the African Continental Free Trade Area (AfCFTA) by improving logistics infrastructure and export capacity.
With construction and development plans advancing, attention is now focused on implementation timelines and the broader economic impact the projects could have on employment, industrial growth and international trade.
