President Bola Tinubu’s administration has signed memoranda of understanding with Dubai-based DP World for two Ogun State projects — the Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone — in deals projected to attract more than $7 billion in investment and create at least 50,000 jobs.
Ogun governor’s media aide Kayode Akinmade said the MoUs were signed on Thursday by representatives of the state and DP World. “We are doing more than signing agreements; we are laying the foundation for a new chapter in Nigeria’s development,” Mr Tinubu said, adding that the Ogun seaport will help decongest Lagos port facilities and reduce delays.
The deals come after reports that DP World has been mentioned in documents related to the late Jeffrey Epstein and that the company’s then‑CEO, Sultan bin Sulayem, resigned amid the ensuing controversy. The fallout prompted some international partners, including British International Investment and Canada’s La Caisse, to review or suspend ties with the Dubai group, according to media reports.
Despite that international backlash, Nigerian authorities proceeded with the MoUs. According to officials, Gilbert Chagoury — a longtime associate of Mr Tinubu — helped broker a meeting in February 2025 between representatives of DP World, President Tinubu and the minister of Maritime and Blue Economy, Adegboyega Oyetola, where plans for the Ogun projects were discussed.
Mr Chagoury’s business dealings and past allegations have drawn scrutiny abroad. In Nigeria, however, companies linked to him have continued to win large public contracts. In 2024, Chagoury’s Hi‑Tech company was awarded an $11 billion Lagos–Calabar coastal highway project, and ITB Construction Nigeria Limited, a Chagoury Group subsidiary, was contracted to refurbish the Tin Can and Apapa port terminals in deals reported to be worth about N1.1 trillion.
Critics have questioned the process by which some of those contracts were awarded and noted that some Chagoury‑linked firms lack prior experience in certain areas, such as seaport construction. Supporters say the projects will deliver jobs and infrastructure improvements.
Mr Chagoury was conferred with the national honour of Grand Commander of the Niger earlier this year.
Requests for comment were sent to DP World and representatives of Mr Chagoury; responses had not been received at the time of publication.
