Dubai-headquartered port operator DP World has signed preliminary agreements to develop major port projects in Nigeria's Ogun State, part of a wider $3 billion investment strategy the company is rolling out across Africa. The signing ceremony took place in the presence of Nigerian President Bola Tinubu and Ogun State Governor Dapo Abiodun. Under the plans, the projects include the Ogun Deep Sea Port and the Ogun State Blue Marine and Special Economic Zone, spread across roughly 10,000 hectares of land, with the developments expected to create around 50,000 direct jobs once complete. DP World chief executive Yuvraj Narayan said Nigeria is a strategically important market for the company, noting that DP World has operated, invested and grown there for more than a decade already. Governor Abiodun said the projects would reshape Nigeria's economic landscape, positioning the state as a logistics and manufacturing hub for the wider region. Nigeria, with a projected 2026 GDP of around $377 billion and annual growth of roughly 4.1 percent, ranks as Africa's third-largest economy behind Egypt and South Africa. DP World itself operates in 85 countries, handles close to 110 million twenty-foot equivalent container units of capacity globally, and is responsible for roughly 10 percent of the world's daily trade flow. The Nigeria agreement underscores how Dubai-based logistics and ports groups continue to expand aggressively into fast-growing African markets, betting on long-term infrastructure gaps as a source of future trade growth.
Dubai's DP World Signs Deal for Major Nigerian Port Projects Under $3bn Africa Push
Summary: Dubai-headquartered port operator DP World has signed preliminary agreements to develop major port projects in Nigeria's Ogun State, part of a wider...