Ogun State Gov. Dapo Abiodun cited investor interest in proposed deep-sea port and liquefied natural gas projects, Premium Times Nigeria reported, as the state pursues plans tied to trade and industrial growth.
Abiodun made the remarks Nov. 3 at a town hall in Ijebu-Ode on the state’s 2027-2029 Medium-Term Expenditure Framework and 2027 budget. Premium Times’ account named no new investors or commitments.
Two exploratory memorandums were signed in Paris on Sept. 24 by Ogun Deep Sea Port Company Ltd., DP World and the Ogun State Government. They cover a possible port and a proposed special economic zone spanning 10,000 hectares.
President Bola Ahmed Tinubu put the projects’ anticipated initial investment above $7 billion and projected more than 50,000 direct jobs if they are fully developed. The presidency did not specify how the expected investment would be financed. Its announcement describes projected outcomes, not secured funding or completed jobs.
The State House linked the port proposal to congestion and draft constraints across Nigeria’s port corridor. It said plans call for a four-kilometer berth and an 18-meter draft, and that the project could lower trade costs and delays for importers, exporters and consumers.
Premium Times reported that Abiodun described OgunLNG as a proposed $10 billion project involving the Nigerian National Petroleum Company Limited (NNPC). NNPC’s 2026 Gas Master Plan lists an offshore pipeline for OK-LNG with a planned capacity of 1.8 billion to 2 billion cubic feet per day. The plan gives its status as “Pre-EPC / STG-2 → STG-3” and lists a proposed onshore supply line at “Project Identification Stage.” It does not state the LNG project’s total cost or confirm a final investment decision.
The State House said manufacturers and industrial companies from abroad had expressed interest in the zone, but did not name firms or quantify commitments.
The presidency reported that the Ogun segment of the planned 700-kilometer Lagos-Calabar Coastal Highway, a 28-kilometer stretch, was scheduled for completion before the end of 2026.
