President Bola Tinubu has assured investors of regulatory clarity, policy stability and predictable business environment to support long-term investment.
Tinubu spoke in Paris, France, on Wednesday at signing of Memorandum of Understanding between Ogun State Government and DP World to develop Blue Marine Special Economic Zone and Gateway Deep Seaport.
Ogun Governor Dapo Abiodun led state delegation, while Minister of Marine and Blue Economy, Adegboyega Oyetola, NPA MD, Abubakar Dantsoho, and DP World Group CEO, Yuvraj Narayan, attended.
Tinubu said Federal Government will provide necessary regulatory support to move projects from agreements to implementation and hold parties accountable.
He said proposed port at Ogun Waterside with 4km berth and 18-metre draft will decongest Lagos corridor, ease pressure on Apapa and Tin Can ports and position Nigeria for AfCFTA market of 1.4bn people.
The Blue Marine SEZ is proposed on 10,000 hectares.
According to President, agreements envisage over $7bn initial investment, over 50,000 direct jobs and substantial non-oil export earnings.
“This is economic diversification made tangible. This is industrialisation made visible. This is Renewed Hope in action,” he said.
Tinubu said Federal Government will facilitate road, rail and power connectivity and remove bureaucratic obstacles.
He noted 28km Ogun section of 700km Lagos-Calabar Coastal Highway will provide vital link to zone and port before year-end.
“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.
“This is how modern infrastructure should be delivered: as an integrated ecosystem, operated to world-class standards and supported by a serious and responsible government. This is nation-building in its most practical form.
“The Lagos–Calabar Coastal Highway is central to this corridor’s commercial viability. The 28-kilometre Ogun State section of this 700-kilometre artery, scheduled for completion before the end of this year, will provide a vital transport link for the zone and port.
“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.
“These projects will also anchor a broader strategic corridor near the pro7posed Nigerian Navy Operating Base and Dockyard and the OK LNG Project, connecting this industrial cluster to our energy and gas-export ambitions,” the President noted.
