Ogun State, DP World sign $7bn MoUs for deep seaport and economic zone
Ogun State and Dubai-based DP World signed agreements in Paris for a $7 billion deep sea port and economic zone, which officials say will create jobs and ease congestion at Lagos ports.
What happened
Ogun State Government and DP World signed Memoranda of Understanding in Paris for the Gateway Deep Sea Port and Blue Marine special economic zone, a project estimated at over $7 billion.12345
President Bola Tinubu, speaking at the signing, assured investors of regulatory clarity, policy stability and a predictable business environment.24
The port is expected to create over 50,000 jobs and help decongest the Lagos and Apapa port corridor.125
Channels Television reported the Gateway Deep Sea Port will feature a four-kilometre berth and an 18-metre draft.5
Key points
- Ogun State Government and DP World signed Memoranda of Understanding for the development of the Gateway Deep Sea Port and a special economic zone, valued at over $7 billion.12345
- The MoUs were signed in Paris, France, on Thursday, with President Bola Tinubu present.234
- The project is expected to create around 50,000 jobs.12
- The port is intended to help decongest the Lagos and Apapa port corridor.25
- President Tinubu assured investors of regulatory clarity, policy stability and a predictable business environment.24
What the coverage leaves out
- None of the outlets reviewed reported the specific terms of the MoUs, project timeline, or financing structure.
- None of the outlets reviewed included comment from DP World representatives directly.
- None of the outlets reviewed detailed the location or land arrangements for the Blue Marine SEZ.
Sources (5)
Every outlet we drew on, grouped by where it is based. Read the originals for the full reporting.
Africa
- 1PunchNGPrivate
- 2BusinessDayNGPrivate
Tinubu assures investors of regulatory clarity, as Ogun signs MoU for $7bn deep sea port
- 3Premium TimesNGIndependent
Tinubu pledges support as Ogun signs port agreement in Paris
- 4VanguardNGPrivate
DEEP SEA PORT: Tinubu assures investors of regulatory clarity as Ogun, DP World sign $7bn MoUs
- 5Channels TelevisionNGPrivate