DP World, Ogun State Government, and Ogun Deep Sea Port Company Ltd have signed two MOUs. The goal: to explore building a new deep sea port and special economic zone in Ogun State. This is not a small plan. The project would cover 10,000 hectares along the Lagos-Calabar Coastal Highway.
The planned Gateway Deep Sea Port is expected to feature a 4 km quay and an 18-meter draft, enabling it to accommodate larger vessels and ease congestion at Lagos ports.
Leadership and project timeline
Governor Prince Dapo Abiodun and DP World’s Group CEO Yuvraj Narayan signed the agreements. President Bola Ahmed Tinubu attended the ceremony. The signing took place in Paris on September 24, 2026. The project is still in the planning stage. Construction is set to start after a groundbreaking in November 2026. The build is expected to take about two and a half years, according to The Nation.
Governor Abiodun called the MOUs the start of two projects that could change Nigeria’s economy. He said they could create over 50,000 direct jobs. Yuvraj Narayan said DP World is in Nigeria for the long haul. The company has invested and operated there for more than ten years. Mohammed Akoojee, DP World’s CEO for Africa, said the port would open a new gateway for Nigerian trade and attract more investment.
Economic impact and DP World’s reach
Nigeria has one of Africa’s biggest consumer markets. It also has strong industrial potential. The new port and economic zone are meant to draw new industries, create jobs, and help Nigerian businesses compete. The initial investment for the Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone is over $7 billion. The project could generate more than 50,000 direct jobs, as reported in a ThisDay market analysis.
The port is planned as a public-private partnership, with private investors providing funding and the Nigerian federal government offering necessary guarantees.
The MOUs only start the exploration phase. But the size and ambition of the Ogun Deep Sea Port and economic zone are clear. If the project moves ahead, it could change Nigeria’s place in regional and global supply chains. The real test will be in execution, raising funds, and keeping political support. For now, the agreements show DP World and Ogun State are serious. This could become one of West Africa’s biggest infrastructure projects.
After the DP World deal, Ogun State also restarted work on the delayed OgunLNG project with NNPC. OgunLNG is valued at $10 billion. It is a separate project, not part of the DP World agreement. Still, both are seen as key parts of the new coastal industrial and energy zone.
President Tinubu, who attended the signing, has backed the immediate start of the port and its link to the Blue Marine Economic Zone. Federal support is expected to bring clear rules, better transport and energy links, and fewer bureaucratic hurdles, according to The Nation.
