Nigeria and DP World Sign $7 Billion Port Deal

President Bola Ahmed Tinubu witnessed the signing of Memoranda of Understanding in Paris, France, between the Government of Ogun State and DP World to develop the Gateway Deep Seaport and the Blue Marine Special Economic Zone. The projects are expected to attract an initial investment exceeding $7 billion and create more than 50,000 direct jobs upon full development.

Located at Ogun Waterside, the Gateway Deep Seaport will feature a four-kilometre berth and an 18-metre draft to accommodate larger vessels and decongest the Lagos port corridor, specifically Apapa and Tin Can Island. The port will be integrated with a 10,000-hectare special economic zone designed to support manufacturing, processing, and non-oil exports to the African Continental Free Trade Area market.

President Tinubu pledged federal support through regulatory clarity, policy stability, and the provision of road, rail, and power connectivity. He specifically highlighted the 28-kilometre Ogun section of the Lagos-Calabar Coastal Highway, scheduled for completion by the end of 2026, as critical to the corridor's commercial viability. Governor Dapo Abiodun noted that the project revives a coastal development vision that had remained unrealized for over three decades.