On Thursday, Nigeria may have finally exorcised a ghost that has haunted Ogun State for nearly three decades — the ghost of a deep seaport that was always promised, but never built.
The signing of two Memoranda of Understanding (MoU) between the state government and DP World for over $7 billion to build the Gateway Deep Seaport at Ogun Waterside and a 10,000-hectare Blue Marine Special Economic Zone is not just another MoU for the photo album. It is different in scale, in partner and in presidential weight.
President Bola Tinubu personally witnessed the signing. The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, the Managing Director of the Nigerian Ports Authority, Dr. Abubakar Dantsoho;
Nigeria’s Ambassador to France, Emmanuel Oke; and DP World’s Group CEO, Yuvraj Narayan were present. When a deal attracts that level of federal backing, it moves from politics to policy.
This is not business as usual. First, the partner. DP World is not a briefcase investor. It operates 82 marine and inland terminals in over 40 countries, from Jebel Ali in Dubai to London Gateway. Its entry means Ogun State is plugging directly into global shipping routes, not building a local jetty.
The Gateway Deep Seaport is designed with a 4km berth and 18-metre draft. This is what matters, the right specs. Apapa and Tin Can cannot take many large vessels fully laden because of draft limitations. With 18 metres, Ogun Waterside can receive Very Large Container Vessels, lowering freight costs and making Nigeria competitive again against Lomé and Cotonou, which have been feeding on our inefficiencies.
Integration is another major advantage. This is the wisdom in the twin MoUs. A port alone moves cargo. A port integrated with a 10,000-hectare SEZ builds an economy. Raw cashew from Ogbomoso, lithium from Ijebu, limestone from Ewekoro and cocoa from Ijesaland can be processed into finished goods within the zone and exported directly, without the tortuous trip to Lagos. Imported components can be assembled in Ogun and re-exported under AfCFTA to a 1.4 billion-person African market.
However, the real story is the stakeholder dividend. For Ogun State, it completes its transformation from an industrial hinterland to a maritime-industrial hub. The state already hosts over 70% of Nigeria’s manufacturing companies because of its proximity to Lagos. With its own port and Gateway International Airport, plus the Lagos-Calabar Coastal Highway link, it now has the full logistics tripod — air, land, sea.
For Nigeria, the project will offer over 50,000 direct jobs and multiples more indirect jobs. Another plus is the decongestion of the Lagos port corridor, which loses an estimated $1.5 billion annually to traffic gridlock and delays. Most importantly, a credible path to non-oil export diversification — the very thing President Tinubu said was the heart of his economic reforms.
For years the host communities in Ogun Waterside have watched the Atlantic from the margins. Now comes the real test of inclusion — jobs, skills, compensation, and environmental protection. The presence of a host community representative in Paris is encouraging, but execution must be community-led.
There are, however, cynicism about MoUs. Ogun State has signed port MoUs before. What will make this different?
President Tinubu gave the assurance himself: federal support for road, rail, power connectivity, regulatory clarity and investment security. Governor Dapo Abiodun must now show speed in land acquisition, community engagement, and environmental impact studies. DP World will demand no bureaucratic bottlenecks.
As the governor rightly said, ‘Our ambition is not merely to berth ships. We are building a gateway for Nigeria’s productive strength to reach Africa and the world’.
If we get this right, history will record 24 September 2026 as the day Ogun State finally turned its 100km shoreline from a neglected swamp into Nigeria’s newest engine of prosperity.
Akintunde, a public affairs analysis, online media publisher and public relations consultant, is from the Amororo Ruling House of Owu-Abeokuta, the Ogun State capital
