OGUN GOES BIG! DP World Signs $7BN Deal for Deep Seaport and 10,000-Hectare Economic Zone

DP World Signs Deal for Deep Seaport and 10,000-Hectare Blue Marine Economic Zone

By Lekki People Magazine

Ogun State has taken a major step towards establishing itself as a new maritime and industrial gateway in Nigeria following the signing of agreements with global ports and logistics giant DP World for the development of the proposed Gateway Deep Seaport and a 10,000-hectare Blue Marine Special Economic Zone.

The Memoranda of Understanding were signed in Paris, France, on September 24, 2026, with President Bola Ahmed Tinubu witnessing the ceremony alongside Ogun State Governor Dapo Abiodun and senior Nigerian and DP World officials.

According to the Presidency, the projects are expected to attract more than $7 billion in initial investment and have the potential to generate over 50,000 direct jobs when fully developed.

A New Gateway on the Ogun Coast

The proposed Gateway Deep Seaport, located in Ogun Waterside, is planned with a four-kilometre berth and an 18-metre draft. Its design is intended to accommodate larger vessels while providing an alternative maritime gateway for businesses currently dependent on the Lagos port corridor.

The project is expected to support the movement of goods between Nigeria, the wider African market and international destinations, while potentially reducing some of the congestion, delays and logistics costs associated with existing port infrastructure.

But the broader ambition extends beyond the port itself.

10,000 Hectares for Industry and Trade

The Gateway Deep Seaport is expected to operate alongside the proposed 10,000-hectare Ogun State Blue Marine Special Economic Zone, creating an integrated platform linking maritime transportation with manufacturing, processing, logistics and export activities.

The concept is to enable businesses to bring in inputs through the port, manufacture or process goods within the economic zone, and move finished products into Nigerian and international markets.

President Tinubu described the integrated approach as one in which the port and economic zone reinforce each other, while stressing the importance of moving the agreements into actual implementation.

Connecting Ogun to the Lagos–Calabar Corridor

The emerging maritime-industrial corridor is also expected to connect with major infrastructure projects, including the Lagos–Calabar Coastal Highway.

The Presidency said the 28-kilometre Ogun section of the coastal highway would provide an important transportation link between the proposed port, the economic zone, Lagos and the Nigerian hinterland.

The wider corridor is also expected to interact with other proposed strategic developments around the Ogun coastline, including the Nigerian Navy Operating Base and Dockyard and the OK LNG Project.

What It Could Mean for Ogun

For Ogun State, the project represents an attempt to combine its growing industrial base with direct access to maritime trade.

The state government has positioned the development as part of a wider economic strategy involving the Gateway International Airport, dry ports, road infrastructure and the coastal highway, with the aim of strengthening manufacturing, logistics, exports and investment.

Governor Dapo Abiodun said the ambition goes beyond simply berthing ships, describing the port as a potential gateway for Ogun and Nigeria's productive economy to access African and global markets.

The agreements, however, mark an investment framework and not the completion of the port. Their significance will ultimately depend on financing, construction, infrastructure connectivity, regulatory implementation and the participation of investors and businesses.

For Nigeria's rapidly expanding southwest industrial corridor, the proposed Gateway Deep Seaport and Blue Marine Special Economic Zone could become an important development to watch as the projects move from agreements to implementation.

OJOMO: A GLOBAL VOICE FOR AFRICA’S FUTURE TAKES CENTRE STAGE IN ALICANTE

Akinwale Roy Ojomo to Deliver Keynote, Receive Prestigious Honour at Clevenard Open Project 2026

ALICANTE, SPAIN — Akinwale Roy Ojomo, distinguished migration researcher, diaspora engagement advocate and international development professional, is set to take centre stage at the Clevenard Open Project 2026 in Alicante, Spain.

Ojomo will deliver the keynote address on Friday, August 28, at the Global Economy, Trade, Solid Minerals, Agriculture & Investment Summit, where he will address Africa’s migration landscape and the growing “JAPA” phenomenon.

A recently appointed Lead Researcher at the Migration Observatory Lab, Center of African Studies, University of Porto, Portugal, Ojomo has built an impressive professional profile spanning migration, global development, business, diaspora engagement and international cooperation. 

He also serves as the Diaspora Editorial Consultant to Lekki People Magazine, bringing his expertise and international perspective to the publication’s coverage of diaspora affairs and global development.

His keynote, titled “The Management Migration aka JAPA Process 2050: Building Legal Pathways for Sustainable Migration and Management,” will explore how migration can be transformed into opportunities for economic development, investment, entrepreneurship, skills transfer and stronger diaspora engagement.

He is also expected to receive a prestigious honorary award at the four-day international gathering, which brings together global leaders, policymakers, investors, academics, entrepreneurs and changemakers from Africa, Europe and the Caribbean.

LEKKI FLOOD: LASG Targets Illegal Structures Blocking Drainages in Agungi, Ajiran & Ikota

Photo credit: Guardian News

The Lagos State Government has launched a major enforcement operation in Agungi, Ajiran and Ikota, ordering the immediate removal of illegal structures blocking drainage channels blamed for recurring floods across the Lekki corridor.

Environment and Water Resources Commissioner, Tokunbo Wahab, announced the crackdown after inspecting key drainage projects in the affected communities.

Wahab announced that all illegal structures built on reclaimed drainage alignments would be demolished

Officials discovered that a land-owning family had blocked the Ajiran drainage outfall into the Lagos Lagoon, preventing stormwater from draining out of the area. Wahab directed that the obstruction be removed immediately, insisting that no land title or Certificate of Occupancy gives anyone the right to block public drainage infrastructure.

He said the government would continue clearing every illegal obstruction to protect lives and safeguard billions of naira invested in flood-control projects.

The inspection also uncovered serious violations at Megamond Estate in Ikota, where developers allegedly reclaimed part of the Ikota River and commenced construction without the required environmental and drainage approvals. Despite earlier enforcement notices, the developments continued.

Wahab announced that all illegal structures built on reclaimed drainage alignments would be demolished, warning that the state would no longer tolerate encroachment on waterways or drainage corridors.

He reminded developers that wetland and reclamation projects must obtain Environmental Impact Assessments and other statutory approvals before construction begins, stressing that Lagos will not recognise approvals sought after illegal development has taken place.

The Commissioner also appealed to residents to report environmental violations, revealing that whistleblower reports led to the discovery of the illegal activities. He reaffirmed the government's resolve to enforce environmental laws and strengthen flood-control infrastructure across the state.

Maryland's African Heritage Month Set to Boost Local Economy

The US State of Maryland, a state with a rich history of cultural diversity, has declared its first-ever African Heritage Month. This milestone event is expected to bring significant economic benefits to the state, building on the growing recognition of the African diaspora's contributions to Maryland's economy and cultural landscape.

With a thriving African immigrant community, Maryland has become a hub for cultural exchange and economic growth. The state is home to the fourth-largest share of African immigrants in the country, with many settling in cities like Baltimore and Silver Spring, creating a diverse community that has already made significant contributions to the state's economy, particularly in the fields of healthcare, education, and entrepreneurship.

The African Heritage Month declaration by governor Wes Moore is a strategic move to tap into the economic potential of this growing demographic, and by embracing and celebrating African heritage, Maryland is positioning itself as a hub for cultural tourism aimed at promoting greater economic development.

The gains from African Heritage Month are expected to be felt across various sectors as increased visitor numbers is expected to boost tourism related activities and local businesses. 

Through this laudable initiative, the state is poised to reap significant economic rewards while promoting diversity, inclusivity, and cultural understanding. 

Lagos: The Vibrant City That Never Sleeps - Ranked 6th Best for Nightlife Globally"

Lagos, Nigeria's economic hub, has earned its place among the world's top cities for nightlife, ranking 6th globally, according to Time Out Magazine's 2024 Outlook. This prestigious recognition puts Lagos ahead of notable cities like Rotterdam, Netherlands, and Manchester, United Kingdom.

Only a handful of cities, including Rio de Janeiro, Brazil; Manila, Philippines; Berlin, Germany; Guadalajara, Mexico; and Austin, Texas, USA, surpass Lagos in the ranking. This achievement is a testament to Governor Babajide Sanwo-Olu's initiatives to enhance tourism and entertainment in the city.

Commissioner for Information and Strategy, Gbenga Omotoso, attributes this success to the Governor's efforts in creating an enabling environment for nightlife, emphasizing security, technology, transportation, tourism, and entertainment. "Nightlife is alive and thriving in Lagos, contributing significantly to the city's GDP," he notes.

Statistica Research Department forecasts Lagos' direct contribution to Nigeria's GDP to reach approximately $3.4 billion by 2026, up from $0.8 billion in 2016. This growth underscores the importance of nightlife in Lagos' economy.

Time Out Magazine also recognized Lagos as the 19th best city to visit in January, surpassing Dubai and Miami. With its vibrant nightlife, Lagos is solidifying its position as a leading mega-city, thanks to Governor Sanwo-Olu's vision and initiatives.

DANGOTE INDUSTRIES CRISES COMPOUNDED BY NEGATIVE FITCH RATING

In a shocking move, Fitch Ratings has downgraded Dangote Industries Limited's (DIL) credit rating to B+ and placed it on ratings watch negative, citing concerns about its liquidity and ability to raise money. This development has sent shockwaves through the business community, particularly given DIL's significant presence in Nigeria's economy and its plans to operate Africa's largest oil refinery.

The downgrade reflects a significant deterioration in DIL's liquidity position, following lower-than-expected disposal proceeds and operational and financial underperformance compared to prior expectations.

 This is a concerning turn of events, especially considering the importance of DIL's projects, including the 650,000 barrel per day oil refinery in Nigeria.

Fitch's decision has sparked discussions about the broader implications for Nigeria's business environment and the challenges faced by the country's oil industry. The downgrade raises questions about the ability of Nigerian businesses to access capital and manage debt, particularly in the oil sector.

In a statement, Fitch revealed that Dangote Group plans to divest a 12.75% stake in Dangote Petroleum Refinery to address liquidity concerns. The proceeds from the sale will be used to service a sizable syndicated loan that matures on August 31, 2024.

 This move highlights the urgent need for DIL to address its debt concerns and improve its financial management.The implications of this downgrade are far-reaching, with potential consequences for Nigeria's economic growth and development. 

"I WANT MY OWN SHOE LINE" WORLDS FASTEST MAN TELLS ADIDAS

 

NOah Lyles

The newly crowned world's fastest man, made history on Sunday by winning the 100-meter sprint at the Paris 2024 Olympics. This victory marks a milestone in Lyles' illustrious career, which has been marked by dedication, perseverance, and a passion for speed.

Lyles' journey to the top began in his teenage years, when he started competing in local track events. His natural talent and hard work quickly earned him a spot on the US national team, and he went on to win several national championships. However, his Olympic dreams were initially put on hold when he failed to qualify for the 2020 Tokyo Olympics.

Undeterred, Lyles refocused his training and came back stronger than ever. His determination paid off in Paris, where he crossed the finish line in a blistering 9.83 seconds, becoming the first American to win the gold medal in the 100-meter sprint since Justin Gatlin in Athens 20 years ago.

Now, with his gold medal in hand, Lyles is setting his sights on a new goal: his own signature shoe line with Adidas. 

"I want my own shoe, I want my own trainer, dead serious," he declared at a news conference after the race. 

As one of the top athletes sponsored by the German brand, Lyles is eager to take his partnership to the next level and create a shoe that reflects his unique style and speed.

With his victory in Paris, Lyles has cemented his status as one of the greatest sprinters of all time. As he looks to the future, it's clear that he's just getting started. Will Adidas grant him his wish and create a signature shoe line? Only time will tell, but one thing is certain – Noah Lyles is here to stay.