Tinubu Pledges Stable Policies as Ogun, DP World Unveil $7bn Investment Plans

President Bola Ahmed Tinubu has reaffirmed the Federal Government’s commitment to creating a predictable policy and regulatory environment for investors as Ogun State advances major maritime and economic development projects with DP World.

The President spoke in Paris following the signing of Memoranda of Understanding between the Ogun State Government and DP World covering the proposed Gateway Deep Seaport and the Ogun State Blue Marine Special Economic Zone.

The agreements are expected to attract more than $7 billion in initial investment, with the projects projected to generate over 50,000 direct jobs when fully developed. The proposed developments are also expected to strengthen logistics, manufacturing, processing and export activities in Ogun State.

Tinubu said the Federal Government would support the projects through the necessary regulatory and institutional framework, as well as infrastructure required to facilitate their implementation. He stressed the importance of policy consistency and clear regulations in encouraging long-term investment.

The Gateway Deep Seaport, planned for Ogun Waterside, is expected to provide additional maritime capacity and improve the movement of goods along the Lagos-Ogun industrial corridor. The Blue Marine Special Economic Zone is planned as a large-scale industrial and logistics hub linked to the port.

The agreements mark another step towards the proposed developments, although the projected investments and employment figures remain dependent on implementation and the fulfilment of the commitments contained in the agreements.