OgunLNG, Deep Sea Port triggering fresh investor rush, says Abiodun

Ogun State Governor, Prince Dapo Abiodun, has disclosed that the planned $7 billion Gateway Deep Sea Port and the proposed $10 billion Ogun Liquefied Natural Gas (OgunLNG) project are attracting fresh waves of investors to the state, positioning it for a new phase of industrial expansion and economic growth.

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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.

Abiodun made this known 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.

He described the planned Deep Sea Port as a defining legacy project of his administration, noting that the agreements recently signed in Paris with DP World would attract approximately $7 billion in private-sector investment into Ogun State.

According to him, 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.

“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,” he said.

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The governor added that the proposed $10 billion OgunLNG project, being developed with the involvement of the Nigerian National Petroleum Company Limited (NNPC), 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.

Reviewing his administration’s achievements, the governor disclosed that over 1,700 kilometres of roads had been constructed or rehabilitated across the state, with substantial interventions also undertaken in healthcare, education, agriculture, electricity and security.

He listed the Gateway Medical Centre of Excellence, the rehabilitation of more than 1,600 public schools, the recruitment of over 6,000 teachers and support for thousands of farmers among the major interventions undertaken by his administration.

On electricity, Abiodun disclosed that power plants had been installed in Abeokuta, while similar facilities would be established in Ijebu-Ode and Remo to improve electricity supply, stimulate commercial activities and support industrial development across the state.

He specifically highlighted the administration’s interventions in Ijebu Division, including the reconstruction and rehabilitation of roads in Oru, Awa, Ilaporu, Ago-Iwoye, Eruwon and Atan, among other communities.

In Ijebu-Ode, he said, the government had constructed 26 roads, reflecting its commitment to improving connectivity and opening up communities to economic opportunities.

The governor described the town hall meeting as particularly significant, being the last of such budget consultations to be held by his administration, and an opportunity for residents to make meaningful contributions to the priorities and direction of the 2027 fiscal plan.

He said the budget would be anchored on the state’s 2027–2029 Medium-Term Expenditure Framework, with emphasis on realistic spending, the completion of ongoing projects, the delivery of essential services and investments that would generate sustainable economic growth.

“My responsibility is to present a realistic and transparent budget that will complete all ongoing projects and provide essential services,” he said.

Abiodun expressed appreciation to the people of Ogun State for their cooperation and support over the past seven years, assuring them that his administration would remain focused on delivering its commitments until the end of its tenure.

He further stressed the importance of sustaining government policies and programmes beyond his administration, noting that development should be a continuous process rather than one tied to a particular government.

The governor urged traditional rulers, community leaders, religious organisations, professional bodies and other stakeholders to actively participate in the budget preparation process by identifying the specific developmental needs of their communities and offering practical recommendations.

He assured participants that submissions made at the meeting would be carefully considered in the preparation of the 2027 budget.

Abiodun, however, explained that proposals that could not be accommodated in the 2027 fiscal document would be documented as an annexure and transmitted to the incoming administration to ensure that legitimate community needs and development priorities were not lost in the transition.

He reiterated his administration’s commitment to inclusive governance, equitable development and the creation of economic opportunities that would improve the living conditions of residents across the state.

Earlier in his opening remarks, the Chief Economic Adviser and Commissioner for Finance, Mr Dapo Okubadejo, said the government’s development agenda was centred on infrastructure provision, improved access to essential services and the creation of an enabling environment for economic activities and individual prosperity.

Okubadejo described governance as a shared responsibility and urged residents to partner with the government in ensuring that the state’s resources were deployed to areas where they would deliver the greatest benefits to the people.

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