Ogun, DP World Sign $7bn Deal for Deep Seaport and Blue Marine Economic Zone

Ogun State and DP World have signed agreements to develop the Gateway Deep Sea Port in Ogun Waterside and the proposed Blue Marine Special Economic Zone. The projects are expected to attract more than $7 billion in initial investment and create over 50,000 direct jobs. The planned port will have a four-kilometre berth and an 18-metre draft, allowing it to receive larger vessels. It is expected to ease pressure on Lagos ports, cut logistics delays and lower costs for importers and exporters. The port will link with a proposed 10,000-hectare economic zone for manufacturing, processing and export-focused businesses. The Federal Government says the planned Ogun section of the Lagos-Calabar Coastal Highway will connect the facilities to Lagos, the hinterland and wider African markets. The agreements are an early investment framework, with the government pledging support for road, rail, power, security and regulatory approvals needed for implementation.

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