By Kazeem Waris
The planned development of the Gateway Deep Seaport and the Ogun State Special Blue Economy Zone is expected to attract an initial investment of more than $7 billion, with the projects projected to expand Nigeria’s non-oil exports and accelerate industrial activity.
Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed this following the signing of Memoranda of Understanding between the Ogun State Government and DP World in Paris.
Oyetola said the projects, including a 10,000-hectare Special Blue Economy Zone, would create new opportunities across the maritime and industrial value chains while strengthening Nigeria’s position in regional and global trade.
He said: “With an initial investment of over $7bn projected across the projects, the development of the deep seaport and the 10,000-hectare Special Blue Economy Zone has the potential to create tens of thousands of jobs, expand non-oil exports and catalyse industrial activity across the value chain.”
According to him, the Gateway Deep Seaport would complement existing port infrastructure by helping to ease congestion and capacity constraints along the Lagos port corridor.
He added that the port would provide the draft and infrastructure needed to accommodate larger vessels and improve the efficiency of cargo movement and trade.
Oyetola said the projects would also provide a platform for expanding maritime-linked industries and increasing Nigeria’s participation in international trade.
He stated that the Ministry of Marine and Blue Economy would provide the necessary regulatory support and institutional coordination to facilitate the implementation of the agreements.
The minister commended President Bola Ahmed Tinubu, Ogun State Governor, Dapo Abiodun, the Ogun State Government and DP World for their roles in advancing the projects.
He described the development as another step towards building a more competitive maritime economy and improving Nigeria’s connection to African and global markets.
