Abuja, Sept. 23, 2024 (NAN) — The construction of the $3.5 billion Bakassi Deep Seaport will soon commence, according to Dr. Jobson Ewalefoh, Director-General of the Infrastructure Concession Regulatory Commission (ICRC).
Thank you for reading this post, don't forget to subscribe!In a statement released by Ifeanyi Nwoko, ICRC’s Acting Head of Media and Publicity, Ewalefoh shared this update during a High-level Stakeholders’ meeting, where a statement of endorsement for the project was signed.
The seaport project, to be executed under the administration of Cross River State Governor Bassey Otu, has secured financing from the African Export-Import Bank (Afreximbank) and will follow the Public-Private Partnership (PPP) model.
Ewalefoh expressed confidence that the project would be completed in record time, citing the state government’s commitment, streamlined PPP processes, secured financing, and broad stakeholder support, including backing from the Ministry of Marine and Blue Economy, the Nigerian Shippers Council, and other key players.
The Director-General also emphasized the importance of the port for Nigeria, particularly the diversification of traffic from the Western Port and its role in supporting the agro-value chain in the South-South region, the North, and across Africa.
The meeting concluded with the signing of an endorsement statement by all major stakeholders, including the Nigerian Ports Authority (NPA) and the Cross River State Government.
