DP World partners with Ogun State to invest over $7 billion in a deep-water port and economic zone, creating 50,000 jobs.
DP World and Nigeria's Ogun State have signed agreements for the development of a deep-water port and a special economic zone. The project, which initially foresees an investment exceeding $7 billion, is planned to commence construction in November.
Global port and logistics operator DP World has reached an agreement for the development of the Gateway Deep Water Port and Ogun Blue Marine Special Economic Zone in Ogun State, Nigeria.
According to a statement from the Nigerian Presidency, the agreements were signed on September 24, 2026, in Paris, France. The ceremony was attended by President Bola Ahmed Tinubu, Ogun Governor Dapo Abiodun, and DP World Group CEO Yuvraj Narayan.
The agreements initially foresee an investment of over $7 billion. With the full development of the projects, it is expected that more than 50,000 direct jobs will be created.
A four-kilometer quay is planned.
The Gateway Deep Water Port, which is planned to be established at Ogun Waterside, is designed to have a four-kilometer long quay and the capacity to accommodate vessels with a draft of 18 meters.
The port aims to serve larger vessels and reduce congestion in the Lagos port corridor. It is particularly intended to alleviate pressure on the Apapa and Tin Can Island ports, thereby reducing delays in import and export operations and lowering logistics costs.
The port will integrate with a manufacturing and export zone.
The port is planned to be developed alongside the approximately 10,000-hectare Blue Marine Special Economic Zone. Factories, warehouses, processing facilities, and export-oriented businesses are expected to be located in the area.
Within this structure, the aim is to convert imported inputs into final products, while Nigeria's raw materials will be processed and sent to foreign markets. The project aims to expand the country's non-oil export capacity.
Construction is expected to begin in November.
Following the agreement, Ogun Governor Dapo Abiodun announced that the groundbreaking ceremony will be held in November and that construction work will commence immediately.
Abiodun stated that the port is expected to be largely completed within approximately two and a half years. The governor noted that the deep-water port project, which has not been realized for over thirty years, is part of the state's efforts to attract investment and accelerate economic development.
Support for road and rail connections.
The Nigerian federal government has announced that it will support the development of road, rail, and electricity connections for the implementation of the projects.
The 28-kilometer section of the Lagos-Calabar Coastal Road in Ogun State is expected to serve as an important connection for the transportation of the port and economic zone. This section is planned to be completed by the end of the year.
President Tinubu emphasized that clarity in regulations and policy stability will be provided to investors, stating that the signed agreements should translate into investment, employment, and production.
Source: SeaNews Türkiye
