President Bola Ahmed Tinubu has assured investors of regulatory clarity and policy stability as Ogun State and DP World signed MoUs for major projects.

The agreements cover the Ogun State Blue Marine Special Economic Zone and Gateway Deep Seaport in Ogun Waterside.

The signing took place in Paris, France, with Governor Dapo Abiodun leading the Ogun State delegation.

Tinubu said the Federal Government would provide regulatory and institutional support to move the projects from agreements to implementation.

He said the government would also hold all parties accountable for their commitments under the agreements.

The President described the projects as significant to attracting foreign investment, expanding productive capacity and strengthening maritime trade.

He said the developments would position Nigeria as a hub for maritime trade, logistics, manufacturing and exports.

The proposed Gateway Deep Seaport will feature a four-kilometre berth and an 18-metre draft.

The facility is expected to ease congestion along the Lagos port corridor and reduce pressure on Apapa and Tin Can Island ports.

It is also designed to accommodate larger vessels and reduce costs and delays for importers and exporters.

The port is expected to provide a trade gateway supporting commerce under the African Continental Free Trade Area.

The proposed Blue Marine Special Economic Zone will cover about 10,000 hectares and support manufacturing, processing, exports and logistics.

The agreements envisage an initial investment of more than $7 billion in Nigeria’s economy.

The projects are projected to create more than 50,000 direct jobs when fully developed, alongside additional indirect opportunities.

Tinubu said the economic zone had attracted interest from global manufacturing and industrial companies.

He described the Gateway Deep Seaport as critical infrastructure supporting the viability of the proposed economic zone.

The President said the Federal Government would work with Ogun State and other subnational governments to remove unnecessary investment bottlenecks.

He added that the government would respect Nigeria’s laws and regulatory requirements while facilitating investments that create economic value.

Tinubu said strengthening the maritime economy remained central to the Federal Government’s economic diversification strategy.

He called on Ogun State and investors to sustain the momentum created by the agreements and proceed with implementation.