By Olaniyi Ajibola
The monoculture economy of Nigeria for decades, which solely dependent on oil revenues that account for the majority of foreign exchange earnings and government income have been a great concerns for patriotic Nigerians and development experts alike. The frustration of fluctuating global oil prices and environmental hazard further necessitated the urgent need for diversification.
There were several options for consideration in the quest for diversification in Nigeria, some of the options include agriculture and solid minerals, considering the vast expanse of arable land across Nigeria as well as large deposit of solid state minerals. However , there has been a strong narrative by marine and blue economy experts about the comparative advantage of marine economy in Nigeria, as a strong alternative to the black gold.
The Bola Tinubu’s administration eventually took the bull by the horns and created a ministry of Marine and Blue Economy upon assumption of office in 2023, as a viable alternative and broad concept that encompasses the sustainable use of ocean and aquatic resources for economic growth, improved livelihoods, and environmental health.
The Minister in charge of the Ministry , Adegboyega Oyetola, at the 2025 World Maritime Day Celebration held in Lagos emphasised the vast potential of the blue economy globally. He said that the ocean produces up to 80 per cent of the earth’s oxygen, supports billions of livelihoods, and carries over 80 per cent of global trade.
As the Federal Government succeeded in these efforts of unlocking sustainable economic growth through blue economy, a subnational government in Ogun State was also thinking in the same direction and assiduously working round the clock to develop it’s marine economy for the purpose of improving its internally generated revenue, supporting it’s industrial capacity as the leading industrial hub in West Africa corridor and also to provide thousands of direct and indirect jobs for it’s teeming youths.
The Governor of the State, Prince Dapo Abiodun, who prides himself as the Chief Marketer of the state have been at the forefront of developing the marine economy of the state to the point of viability and sustainability, going around the world to speak to investors and experts about the inherent potential of the state in the area of marine and blue economy.
Before now and exactly on October 11, 2024, Governor Dapo Abiodun played host to Minister Oyetola for the ground-breaking ceremony of the Inland Dry Port (IDP) in Ewekoro, Ogun State. This project represents a key milestone in enhancing Nigeria’s logistics and supply chain infrastructure. Oyetola expressed heartfelt appreciation to Governor Dapo Abiodun for his visionary leadership, saying the initiative is set to transform the nation’s economic and industrial landscape and also create thousands of jobs.
The Governor in his remarks at the event said the IDP is in alignment with President Bola Ahmed Tinubu’s Renewed Hope Agenda and would be instrumental in reducing congestion at traditional seaports. By improving the efficiency of Nigeria’s logistics network, he added that it would enhance the country’s global competitiveness.
Meanwhile, the Governor refuses to rest on his oars in his aggressive move to substantially transform the marine potential of the state into prosperity, as another history was made on Thursday when Ogun State Government and DP World MEA FZE signed Memoranda of Understanding (MoUs) for the development of the Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone, with projection of more than $7 billion in initial investment and over 50,000 direct jobs.
President Bola Tinubu, being visibly impressed by the courageous efforts of the Governor and his team physically witnessed the signing in Paris, France, alongside the Minister of Marine and Blue Economy, Adegboyega Oyetola, and the Director-General of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho.
These agreements are very significant to Ogun State and indeed Nigeria at large. It was a multiple agreements involving the Federal Government, Ogun State Government, DP World, financial advisers and other private-sector partners in a major investment framework aimed at easing trade bottlenecks, strengthening logistics and expanding Nigeria’s manufacturing and export capacity.
President Tinubu in his speech said the two projects would address longstanding infrastructure and logistics constraints while creating an integrated platform for industrial production, maritime commerce and access to African and global markets.
“We are doing more than signing agreements; we are laying the foundation for a new chapter in Nigeria’s development”.
The Deep Sea Port, which is being located in Ogun Water side, according to it’s formative concept will feature a four-kilometre berth and an 18-metre draft, positioning it to handle larger vessels, decongest the Lagos port corridor and reduce costs and delays for importers and exporters.
The port will be integrated with the proposed 10,000-hectare Blue Marine Special Economic Zone, which is expected to support manufacturing, processing and export-oriented industries.
In addition to that, the President disclosed that the 28-kilometre Ogun section of the Lagos-Calabar Coastal Highway would provide a critical link between the port and industrial zone, Lagos, the Nigerian hinterland and wider African markets.
He explained that the emerging corridor would also connect with other strategic investments, including the proposed Nigerian Navy Operating Base and Dockyard and the OK LNG Project, strengthening the relationship between maritime infrastructure, industry, energy and trade.
The president described the investment as a practical expression of economic diversification and industrialisation under the Renewed Hope Agenda, commending Prince Dapo Abiodun for his resilience and commitment in securing the land, structuring the investment framework and reducing project risks for investors.
Governor Dapo Abiodun in his remarks recalled the journey from stagnation of over three decades, lauding President Tinubu for his leadership role towards reviving the age-long deep seaport vision for the Ogun coastline , as he described the signing of the agreements as a defining moment in the economic history of the gateway State.
As the Governor rightly observed, the development remains a part of the multimodal infrastructure network as conceptualised by his administration, which consists of air transport, water and land, forming a logistic chain of industrial significance in the West Africa corridor.
Sincerely, the visionary capacity of Governor Dapo Abiodun is top notch, it intrinsically reflects responsive and responsible leadership and governance, rooted in courage and doggedness. The successful signing of the multiple agreements for the gateway deep seaports was in line with the manner in which the Governor succeeded in building the Gateway agro-cargo airport.
Difficult as it appears on paper and in narration, considering the limited resources available to government and attendant technical complexity, the administration of Governor Dapo Abiodun has been able to successfully implement it’s multimodal infrastructure network without noise and with precision, in tandem with global best practice.
The Governor has succeeded in opening the industrial potential of Ogun State to the global community, with it’s comparative advantage of location, favourable policies that strengthen ease of doing business as well as peaceful environment as greatest selling point.
More importantly is the epoch-making feats of breaking the jinx of stagnation in the economic history of Ogun State. The Governor started with turning the idea of building a cargo airport into reality after two decades and also the deep seaports of over thirty years long-standing into fruition to the admiration of all.
Congratulations to Governor Dapo Abiodun for making significant history as a visionary leader with exceptional developmental drive, congratulations to the people of Ogun State for this turnaround in the state’s economy and thank you Mr President for standing with the gateway State always.
Ajibola is a Senior Special Assistant to Governor Dapo Abiodun on Strategic Communications.
