DP World Commits to Major Nigeria Port Projects Under $3B Africa Strategy

Dubai-based ports operator DP World is exploring two major port and economic zone projects in Nigeria spanning 10,000 hectares, which are expected to create 50,000 jobs as part of a broader $3 billion investment strategy for Africa.

The company signed preliminary agreements covering the Ogun Deep Sea Port and the Ogun State Blue Marine and Special Economic Zone in south-west Nigeria. These agreements were formally signed in Ogun State in the presence of Nigerian President Bola Tinubu.

Group chief executive Yuvraj Narayan stated that Nigeria is a strategically important market where the company has operated and grown for over a decade. The new projects follow an earlier announcement regarding a multibillion-dollar investment plan across the UAE, Asia, and Africa.

According to International Monetary Fund data, Nigeria stands as Africa's third-biggest economy, behind Egypt and South Africa. Despite infrastructure challenges noted by the US International Trade Administration, Ogun State Governor Dapo Abiodun emphasized that the deals will reshape the nation's economic landscape.

Globally, DP World manages a handling capacity of 110 million 20-foot-equivalent units, handling 10 per cent of global daily trade across 85 countries, despite recent operational disruptions linked to the Iran war and ongoing regional expansions involving firms like GXO Logistics.