President Bola Ahmed Tinubu has assured domestic and foreign investors of the Federal Government’s commitment to providing regulatory clarity, policy stability and a predictable business environment for long-term investments in Nigeria. In a statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, Tinubu spoke in……
President Bola Ahmed Tinubu has assured domestic and foreign investors of the Federal Government’s commitment to providing regulatory clarity, policy stability and a predictable business environment for long-term investments in Nigeria.
In a statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, Tinubu spoke in Paris, France, during the signing of Memoranda of Understanding between the Ogun State Government and DP World for the development of the Ogun State Blue Marine Special Economic Zone and the Gateway Deep Seaport.
The signing was witnessed by Ogun State Governor Dapo Abiodun, who led the state government delegation to the event, alongside senior federal and state government officials and representatives of DP World and other investment partners.
“The agreements before us bring together vision, expertise, capital and execution capacity. I particularly welcome DP World, one of the world’s leading port and logistics operators. I also acknowledge our financial advisers, Sky Capital, and all the investors and partners whose commitment has brought us to this important stage,” Tinubu said.
The President assured investors that the Federal Government would provide the necessary regulatory and institutional support to ensure the projects move from agreements to implementation.
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He also said the government would hold all parties accountable for their commitments, describing the agreements as a significant milestone in efforts to attract foreign direct investment, expand productive capacity and position Nigeria as a major hub for maritime trade, logistics, manufacturing and exports.
The proposed Gateway Deep Seaport at Ogun Waterside will feature a four-kilometre berth and an 18-metre draft, with the capacity to accommodate larger vessels and help decongest the Lagos port corridor.
According to the statement, the project is expected to ease pressure on Apapa and Tin Can Island ports while reducing costs and delays for importers, exporters and consumers.
The port is also expected to provide a competitive trade and logistics gateway for the African Continental Free Trade Area, which serves a continental market of approximately 1.4 billion people.
The Ogun State Blue Marine Special Economic Zone is proposed to cover 10,000 hectares.
“These agreements envisage an initial investment of more than $7 billion in the Nigerian economy. At full development, the projects are projected to create more than 50,000 direct jobs and many additional indirect opportunities, while generating substantial non-oil export earnings from Nigerians’ creativity and productivity across the value chain,” Tinubu said.
“This is economic diversification made tangible. This is industrialisation made visible. This is Renewed Hope in action. I commend Governor Dapo Abiodun and the government and people of Ogun State for securing the land, structuring the investment framework and reducing project risks for global investors,” he added.
The President described the partnership between the Federal and Ogun State governments as “cooperative federalism”, saying the Federal Government would facilitate road, rail and power connectivity, strengthen investment security and the maritime domain, and remove unnecessary bureaucratic obstacles.
Tinubu said the Blue Marine Special Economic Zone was already attracting interest from leading global manufacturing and industrial companies.
“Within the zone, imported inputs will be transformed into finished goods, Nigerian raw materials will be processed for export and, most importantly, our young men and women will find dignified, productive and sustainable employment,” he said.
He described the Gateway Deep Seaport as critical infrastructure for the viability of the economic zone.
“A port moves cargo; a port integrated with a special economic zone helps to build an economy. Each reinforces the other,” the President said.
Tinubu said the Federal Government would continue working with Ogun State and other subnational governments to remove bottlenecks and facilitate investments that create value for Nigerians while respecting existing laws and regulatory requirements.
He added that strengthening Nigeria’s maritime economy remained a key component of the administration’s broader economic diversification strategy.
“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. These projects respond directly to those constraints,” Tinubu said.
The President also highlighted the Lagos-Calabar Coastal Highway as central to the commercial viability of the corridor, noting that the 28-kilometre Ogun State section of the 700-kilometre highway was scheduled for completion before the end of 2026.
“Without it, the coastline would have remained rich in potential but without access. With it, the zone and port will connect more effectively to Lagos, the Nigerian hinterland and markets across the African continent,” he said.
Tinubu said the projects would also support a broader strategic corridor near the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project, linking the industrial cluster with Nigeria’s energy and gas-export ambitions.
