Ogun Deep Seaport: Tinubu Unveils $7bn Plan To Cut Port Bottlenecks

President Bola Ahmed Tinubu has backed a proposed $7 billion investment in the Gateway Deep Seaport and Ogun State Blue Marine Special Economic Zone, saying the projects will help address port congestion and logistics bottlenecks constraining Nigeria’s trade.

Tinubu spoke in Paris, France, on Thursday at the signing of two Memoranda of Understanding between the Ogun State Government and DP World, a global ports and logistics operator, for the development of the projects.

The proposed deep seaport at Ogun Waterside will have a four-kilometre berth and an 18-metre draft, allowing it to handle larger vessels and provide an alternative gateway to the congested Lagos port corridor.

“Nigeria lies at the heart of West African trade. Yet, our strategic advantage has been constrained by port congestion, inadequate draft capacity and logistics bottlenecks that increase the cost of doing business,” Tinubu said.

He said the projects were designed to respond directly to those constraints while strengthening Nigeria’s position in regional trade and supporting manufacturing and exports.

The Blue Marine Special Economic Zone is planned across 10,000 hectares, with the Federal Government projecting that the combined projects could create more than 50,000 direct jobs and generate additional indirect employment.

Tinubu said the initial investment of more than $7 billion would support economic diversification by linking port infrastructure with industrial production.

“The Gateway Deep Seaport is the critical infrastructure that will support the zone’s viability. A port moves cargo; a port integrated with a special economic zone helps to build an economy. Each reinforces the other,”he further revealed.

Under the proposed arrangement, imported inputs would be processed into finished goods within the zone, while Nigerian raw materials would also be processed for export.

The President said the Federal Government would support the projects with infrastructure and regulatory measures, including road, rail and power connectivity, while strengthening investment security and reducing bureaucratic obstacles.

The Ogun State Government, led by Governor Dapo Abiodun, signed the agreements with DP World in the presence of federal officials, including the Minister of Marine and Blue Economy, Adegboyega Oyetola, and the Managing Director and Chief Executive Officer of the Nigerian Ports Authority, Abubakar Dantsoho.

Tinubu also linked the projects to the Lagos-Calabar Coastal Highway, saying the 28-kilometre Ogun section of the 700-kilometre highway would provide an important transport connection to the proposed port and industrial zone.

“The Lagos–Calabar Coastal Highway is central to this corridor’s commercial viability,” he stressed, adding that the Ogun section was scheduled for completion before the end of the year.

The President said the emerging industrial corridor would also connect with other planned investments, including the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project.

He assured investors of continued government support, stressing the importance of predictable regulation to long-term infrastructure investment.

“The agreements before us bring together vision, expertise, capital and execution capacity,” Tinubu declared.

He added that the government would hold the parties to their commitments and work with Ogun State and other subnational governments to facilitate investments while ensuring compliance with existing laws and regulations.