DP World signs $7bn deal to build Ogun deep-sea port and industrial zone
Ogun State and DP World MEA FZE signed memoranda to develop a $7 billion deep-sea port and a 10,000-hectare special economic zone, with the prospect of more than 50,000 direct jobs.
Nigeria’s Ogun State and DP World MEA FZE formalised MoUs in Paris, witnessed by President Bola Tinubu, Minister Adegboyega Oyetola and NPA head Abubakar Dantsoho. The draft deal envisions an initial investment exceeding $7 billion to construct the Gateway Deep Seaport and a 10,000-hectare Blue Marine Special Economic Zone, potentially generating over 50,000 direct jobs if fully realised. While the precise split of funding, ownership and operating models were not disclosed, the federal government promised regulatory and institutional assistance.
The deep-sea port, slated for Ogun Waterside, will have a four-kilometre berth and 18-metre draught, aimed at easing congestion at Lagos’s Apapa and Tin Can Island terminals. The special economic zone will host manufacturing, processing, logistics and export-focused firms, leveraging the African Continental Free Trade Area. Complementary infrastructure, including the Lagos-Calabar Coastal Highway and rail and power links, is expected to be completed by the end of 2026, tying the port to broader multimodal corridors.
Why it matters
The project could transform Nigeria’s logistics network, spur manufacturing and create tens of thousands of jobs.
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