President Bola Tinubu on Thursday assure domestic and foreign investors say Federal Government go continue to provide regulatory clarity, policy stability and predictable business environment to support long-term investment inside Nigeria.
E yarn dis one for Paris, France, at the signing of Memorandum of Understanding between Ogun State Government and DP World, one of di world leading ports and logistics operators, to develop Ogun State Blue Marine Special Economic Zone and Gateway Deep Seaport.
Governor Dapo Abiodun lead di state delegation wey include Secretary to di State Government Tokunbo Talabi; Commissioners for Finance, Works, Industry, Trade and Investment, Transport, and representative of di host community. Also for di event na Minister of Marine and Blue Economy Adegboyega Oyetola; Nigeria Ambassador to France Emmanuel Ayodele Oke; Managing Director and Chief Executive Officer of Nigerian Ports Authority Dr Abubakar Dantsoho; Group Chief Executive Officer, DP World Yuvraj Narayan; Managing Director, SkyKapital Karim Noujaim; and Senior Vice-President, Business Development, Sub-Saharan Africa Regional Office, DP World Mohammed Rashid Ismail.
According to di president, di agreements before dem bring together vision, expertise, capital and execution capacity. He welcome DP World and acknowledge financial advisers Sky Capital and all investors and partners whose commitment bring dem to dis important stage.
Tinubu tok say di agreements envisage initial investment of more than $7 billion inside Nigerian economy. At full development, di projects projected to create more than 50,000 direct jobs and many additional indirect opportunities, while generating substantial non-oil export earnings from Nigerians creativity and productivity across di value chain.
He call am economic diversification made tangible, industrialisation made visible, and Renewed Hope in action. He commend Governor Dapo Abiodun and di Government and people of Ogun State for securing di land, structuring di investment framework and reducing project risks for global investors. He describe am as cooperative federalism as envisaged by constitution: subnational vision supported by federal facilitation.
Tinubu promise say government go facilitate road, rail and power connectivity; strengthen investment security and maritime domain; and remove unnecessary bureaucratic obstacles. He assure investors say Federal Government go provide necessary regulatory and institutional support to move di projects seamlessly from agreements to implementation. He also stress say government go hold all parties accountable for their commitments, describing di agreements as significant milestone in Nigeria efforts to attract foreign direct investment, expand productive capacity and position di country as major hub for maritime trade, logistics, manufacturing and exports.
Di proposed port for Ogun Waterside, with four-kilometre berth and 18-metre draft, go help decongest Lagos port corridor, ease pressure on Apapa and Tin Can Island ports, and reduce costs and delays for importers, exporters and consumers. E go accommodate larger, deeper-draft vessels wey support modern global commerce and provide competitive trade and logistics gateway for African Continental Free Trade Area, positioning Nigeria to serve continental market of approximately 1.4 billion people.
Ogun State Blue Marine Special Economic Zone proposed to sit on 10,000 hectares. Di president tok say di zone already dey attract interest from leading global manufacturing and industrial companies. Inside di zone, imported inputs go transform into finished goods, Nigerian raw materials go process for export and, most importantly, young men and women go find dignified, productive and sustainable employment.
He tok say Gateway Deep Seaport na di critical infrastructure wey go support di zone viability. A port moves cargo; a port integrated with special economic zone helps to build economy. Each one reinforce di other, he add.
Tinubu tok say Federal Government go continue to work with Ogun State and other subnational governments to remove unnecessary bottlenecks and facilitate investments wey create value for Nigerians, while respecting di country laws and regulatory requirements. He say strengthening maritime economy remain key part of Federal Government broader economic diversification strategy and urge Ogun State Government and investors to sustain di momentum from di signing and proceed expeditiously with implementation.
He note say Nigeria lies at heart of West African trade, yet strategic advantage don dey constrained by port congestion, inadequate draft capacity and logistics bottlenecks wey increase cost of doing business. These projects respond directly to those constraints, he tok. He add say dis na how modern infrastructure suppose dey delivered: as integrated ecosystem, operated to world-class standards and supported by serious and responsible government. He call am nation-building in practical form.
Di president tok say Lagos–Calabar Coastal Highway central to di corridor commercial viability. Di 28-kilometre Ogun State section of di 700-kilometre artery, scheduled for completion before di end of dis year, go provide vital transport link for di zone and port. Without it, di coastline for remain rich in potential but without access. With it, di zone and port go connect more effectively to Lagos, di Nigerian hinterland and markets across African continent.
He also tok say di projects go anchor broader strategic corridor near di proposed Nigerian Navy Operating Base and Dockyard and di OK LNG Project, connecting dis industrial cluster to energy and gas-export ambitions.
