The Ogun State Government and DP World have signed Memoranda of Understanding for the development of the Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone, with the projects expected to attract more than $7 billion in initial investment.
The agreements were signed in Paris, France, on Thursday, September 24, 2026, with President Bola Tinubu witnessing the ceremony. The projects are also expected to create more than 50,000 direct jobs when fully developed.
The proposed Gateway Deep Sea Port will be located at Ogun Waterside and is planned to have a four-kilometre berth and an 18-metre draft. The deeper draft is intended to allow the port to handle larger vessels and provide another major cargo gateway outside the Lagos port corridor.
The port is expected to help reduce pressure on the Apapa and Tin Can Island ports, which have faced congestion and logistics challenges. The project is also intended to reduce transportation delays and costs for importers and exporters.
The port will be integrated with the proposed 10,000-hectare Blue Marine Special Economic Zone. The economic zone is expected to accommodate manufacturing, processing, logistics and export-oriented businesses.
According to the Federal Government, the integration of the port with the economic zone is designed to encourage companies to process Nigerian raw materials and manufacture finished products for local and international markets.
President Tinubu said the Federal Government would provide regulatory and institutional support for the projects and facilitate the road, rail and power connections required for their development.
The projects are also expected to benefit from the Lagos-Calabar Coastal Highway. A 28-kilometre section of the highway in Ogun State is scheduled for completion before the end of 2026 and is expected to provide an important road connection between the proposed port, industrial zone, Lagos and the Nigerian hinterland.
Ogun State Governor Dapo Abiodun said the state had secured the land and worked on the investment framework for the development.
The proposed port and economic zone are part of a wider industrial and maritime corridor that is expected to connect with other planned projects, including the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project.
The $7 billion-plus figure represents the initial investment envisaged under the agreements, rather than money that has already been fully deployed. The actual economic impact will therefore depend on the implementation of the agreements and the subsequent construction and operation of the projects.
The development is expected to strengthen Ogun State’s position in Nigeria’s maritime and industrial economy while providing an additional route for international trade and exports.
