By Olaniyi Ajibola
There is no gainsaying the economic significance of the revived marine economy in Ogun State by the visionary helmsman, Prince Dapo Abiodun, who consciously changed the story of the state and broke the jinx of stagnation of more than three decades in its maritime sector through creative mindset and relentless efforts, thereby activating a leading marine hub in the West Africa corridor, which systematically becoming the marine capital of Africa.
Expectedly, the state has been experiencing a greater influx of investors from all over the world, since the historical signing of Memorandum of Understanding between Ogun State Government and DP World MAE FZE in the late September 2026, towards the development of the Gateway Deep Seaport and the Ogun State Blue Marine Special Economic Zone, with worth of over $7 billion in initial investment and carrying capacity of over 50,000 direct jobs and later the proposed $10 billion Ogun Liquefied Natural Gas (OgunLNG).
Of course, the selling point of these projects is it’s strategic location and capacity. A port with four-kilometre berth and an 18-metre draft, positioning to handle larger vessels and decongest the Lagos port corridor, which connects the 28-kilometre Ogun section of the Lagos-Calabar Coastal Highway and provides a critical link between the port and industrial zone, Lagos, the Nigerian hinterland and wider African markets is indeed a beautiful bride to every investor in the maritime industry.
Also, the revival of the LNG project would further strengthen Ogun’s emergence as a major industrial and energy hub within the emerging coastal economic corridor and contribute to meeting the energy needs of the geo-political zone, which accommodates the largest number of manufacturing firms in Nigeria.
In addition to these projects, the favourable government policies on investment, that have made the state the best in ease of doing business in Nigeria is another factor which has boosted the image of the state as the first consideration of choice for investors in Nigeria, coupled with the exceptional marketing strategy of the Governor.
It has been said severally in many quarters that the personality of Governor Dapo Abiodun, being a resilient leader and go-getter has profoundly created opportunities for the state to sell it’s products in the global arena , with attendant positive results in all sectors of the state’s economy.
With about five industrial clusters across the state, the government of Governor Dapo Abiodun has convincingly prepared for influx of investors from across the world and strategically positioned the state as only option for both local and foreign investments.
It is highly instructive to note that the Governor has optimally utilized the state’s comparative economic advantage to transform the state beyond the status he met it in 2019, in line with his promise to the people of the state during electioneering and in tandem with his developmental agenda.
Speaking on Tuesday in Ijebu-Ode during the town hall meeting on the 2027–2029 Medium-Term Expenditure Framework (MTEF) and the 2027 Budget, organised by the Ministry of Budget and Planning, Governor Abiodun explained how the recent turn-around in the marital sector of the state’s economy has attracted
fresh waves of investors to the state, positioning it for a new phase of industrial expansion and economic growth.
The governor said the strategic investments, alongside the proposed Ogun Blue Marine and Special Economic Zone and the Lagos-Calabar Coastal Highway being constructed by the Federal Government, were opening up unprecedented economic opportunities and generating growing interest among local and international investors.
He described the planned Deep Sea Port as a defining legacy project of his administration, and reechoed the earlier announced prospects of agreements recently signed in Paris with DP World which was projected to attract approximately $7 billion in private-sector investment into the state.
The Governor further explained that the agreements cover the development of the Gateway Deep Sea Port and the Ogun Blue Marine and Special Economic Zone, which are expected to transform the state’s maritime, logistics, manufacturing and industrial landscape.
He said, ”In September, I had the privilege of travelling to Paris to sign a landmark agreement that will be the biggest legacy of my administration, and that agreement is for the construction of the Ogun Deep Sea Port.
“That day, we signed two agreements: one for the Deep Sea Port and the other for the Ogun Blue Marine and Special Processing Zone. These combined agreements translate to an investment of about $7 billion of private capital, with no government investment”.
The governor added that the proposed $10 billion OgunLNG project, being developed with the involvement of the Nigerian National Petroleum Company Limited (NNPCL), would further strengthen the state’s investment prospects, while the Lagos-Calabar Coastal Highway would enhance connectivity and open up new economic corridors.
He said the convergence of these major projects had significantly increased investors’ interest in Ogun, with the state witnessing growing pressure from prospective investors seeking to establish businesses and take advantage of the emerging opportunities.
Abiodun noted that his administration’s investment in infrastructure, human capital development and the provision of an enabling business environment since 2019 had laid the foundation for the state’s growing economic profile.
It is, therefore, fascinating that Ogun state, after the long wait of over three decades is transforming into a major maritime and industrial hub in the West Africa corridor, driven by multi-billion-dollar investments along its coastline in Ogun Waterside, and significant integration with Lagos-Calabar Coastal Highway , internal road networks, and the Gateway International Airport in Iperu.
Ogun State, through a pragmatic leader has truly laid a robust foundation for marine and industrial economy in Nigeria, as the nation’s marine and blue economy offers hundreds of billions in untapped GDP potential , anchored by its Strategic Atlantic Coastline, vast inland waterways, which necessitated the creation of a dedicated Federal Ministry of Marine and Blue Economy by the administration of President Bola Tinubu upon assumption of office in 2023.
Obviously, the state is leaving up to it’s primordial status as an unassailable gateway to prosperity in Nigeria. We commend a thought leader, Prince Dapo Abiodun, who have brought his business acumen and corporate exposure to bear in governance and continues to change the old order for the benefit of the state and Nigeria at large.
Finally, Ogun State is more than prepared for the present influx of investors into the state for new opportunities. This is without doubt the destination of choice for every rational investor in Africa.
Ajibola is a Senior Special Assistant to Governor Dapo Abiodun on Strategic Communications
