Tinubu Assures Investors of Policy Stability

….as Ogun, DP World Sign $7bn Port, Economic Zone MoUs

President Bola Ahmed Tinubu has assured domestic and international investors of the Federal Government’s commitment to regulatory clarity, policy stability and a predictable business environment for long-term investments in Nigeria.

Tinubu gave the assurance on Thursday in Paris, France, during the signing of Memoranda of Understanding between the Ogun State Government and DP World for the development of the Gateway Deep Seaport and the Ogun State Blue Marine Special Economic Zone.

The agreements are expected to attract an initial investment of more than $7 billion into the Nigerian economy, with the projects projected to create over 50,000 direct jobs when fully developed.

The Ogun State delegation was led by Governor Dapo Abiodun and included the Secretary to the State Government, Tokunbo Talabi, and commissioners responsible for finance, works, industry, trade and investment, and transport.

The President said the agreements represented a significant milestone in Nigeria’s drive to attract foreign direct investment, expand productive capacity and strengthen the country’s position as a hub for maritime trade, logistics, manufacturing and exports.

“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,” Tinubu said.

He assured investors that the Federal Government would provide the necessary regulatory and institutional support to ensure a seamless transition from the signing of the agreements to implementation.

According to him, all parties involved would be held accountable for their commitments, while the government would facilitate road, rail and power connectivity, strengthen investment security and remove unnecessary bureaucratic obstacles.

The proposed Gateway Deep Seaport at Ogun Waterside will feature a four-kilometre berth and an 18-metre draft. The facility is expected to help decongest the Lagos port corridor and reduce pressure on the Apapa and Tin Can Island ports.

The President said the deeper draft would allow the port to accommodate larger vessels used in global trade, while providing a competitive gateway for trade under the African Continental Free Trade Area, which serves a continental market of about 1.4 billion people.

The Ogun State Blue Marine Special Economic Zone, which is proposed to cover 10,000 hectares, is expected to support manufacturing, processing and export activities.

Tinubu said the zone had already attracted interest from major 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 special 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 also linked the projects to the Lagos-Calabar Coastal Highway, particularly the 28-kilometre section in Ogun State, which he said was scheduled for completion before the end of the year.

According to him, the road would provide an important transport connection between the port and economic zone, Lagos, the Nigerian hinterland and markets across Africa.

He added that the projects would form part of a broader strategic industrial corridor near the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project.

The President said strengthening Nigeria’s maritime economy remained central to the Federal Government’s economic diversification strategy, noting that port congestion, inadequate draft capacity and logistics bottlenecks had constrained the country’s potential in regional and international trade.

He urged the Ogun State Government and investors to maintain the momentum generated by the MoUs and move quickly towards implementation.

Also present at the signing were Minister of Marine and Blue Economy, Adegboyega Oyetola; Nigeria’s Ambassador to France, Emmanuel Ayodele Oke; Managing Director of the Nigerian Ports Authority, Abubakar Dantsoho; DP World Group Chief Executive Officer, Yuvraj Narayan; and representatives of SkyKapital.