Ogun State targets $17 billion in industrial and maritime investments

Ogun State is pursuing an industrial expansion strategy with a potential investment pipeline exceeding $17 billion. Key components of this initiative include a proposed $7 billion deep seaport and a special economic zone supported by global logistics firm DP World, as well as a $10 billion liquefied natural gas (LNG) project in collaboration with the Nigerian National Petroleum Company Limited (NNPC).

The state government has defended the legitimacy of these projects following criticism from a political candidate who labeled the seaport investment a “broken promise.” Officials clarified that agreements for the Gateway Deep Seaport and the Blue Marine Special Economic Zone were signed in the presence of high-ranking figures, including President Bola Ahmed Tinubu and the Managing Director of the Nigerian Ports Authority, asserting that the project plans and commitments are verifiable.