The Ogun State Government and global ports and logistics company DP World have signed agreements for the development of the Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone, in a deal expected to attract more than $7 billion in initial investment.
The agreements were signed in Paris during President Bola Tinubu’s visit to France and bring together the Federal Government, Ogun State Government, DP World and other private-sector partners.
The Gateway Deep Sea Port, planned for Ogun Waterside, is expected to feature a four-kilometre berth with an 18-metre draft. The facility is designed to accommodate larger vessels and help reduce congestion around Lagos ports, particularly the Apapa and Tin Can Island corridors.
The port will also be linked to a proposed 10,000-hectare Blue Marine Special Economic Zone, which is expected to support manufacturing, processing, logistics and export-oriented businesses.
According to the Ogun State Government, the wider development could create more than 50,000 direct jobs when fully developed, while strengthening the state’s role in Nigeria’s maritime, manufacturing and export economy.
The project is also expected to improve access to international markets and reduce some of the transportation delays and logistics costs faced by businesses moving goods through Nigeria’s existing port infrastructure.
