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Tag: Bakassi deep seaport

  • FG issues certificate of compliance for Bakassi deep seaport

    FG issues certificate of compliance for Bakassi deep seaport

    The proposed Bakassi Deep Seaport in Cross River State received a major boost with the issuance of a Certificate of Compliance by the Federal Ministry of Marine and Blue Economy, a development Governor Senator Bassey Edet Otu described as “a momentous and defining milestone in our collective march toward economic rebirth.”

    Receiving the certificate from the Minister of Marine and Blue Economy, Adegboyega Oyetola, at the ministry’s headquarters in Abuja on Wednesday, Otu said the approval signified that “the Bakassi Deep Seaport has moved decisively from vision to verifiable reality,” adding that “this is a statement of confidence in Cross River State and in Nigeria’s maritime future.”

    The Governor noted that the development followed closely on the heels of the approval of the Bakassi Deep Seaport by the Federal Executive Council (FEC) as one of three transformative Public–Private Partnership (PPP) projects. “When the Federal Executive Council speaks with such clarity, it sends a powerful signal to investors that this project is credible, bankable and irreversible,” he said.

    Described as a strategic maritime infrastructure expected to attract about $3.5 billion in private investment, the Bakassi Deep Seaport is projected to redefine Nigeria’s shipping and logistics landscape. Governor Otu stressed that “this project is not just about ships and cargo, but about jobs, industrialization and positioning Nigeria competitively within global trade corridors.”

    Speaking at the handover ceremony, the Governor emphasized the strategic relevance of Cross River State to Nigeria’s maritime aspirations. “Cross River State is strategically located to help Nigeria realize its maritime potential, much like Brazil and other coastal nations with robust marine economies,” he said, adding that “with our growing population and finite resources, projects of this magnitude offer a veritable pathway to investment inflows and mass job creation.”

    “Today is historic,” Otu declared. “It is a major milestone in our journey toward building a viable marine and blue economy through the Bakassi Deep Seaport. Nigeria is underperforming in this sector, and we have resolved that Cross River State will not only participate, but will lead. Receiving this certificate today strengthens our balance, sharpens our focus, and reinforces our confidence that we are firmly on track.”

    The Governor also commended President Bola Ahmed Tinubu for establishing the Ministry of Marine and Blue Economy, saying, “The creation of this ministry is visionary and timely. Mr. President has demonstrated uncommon foresight, and the choice of Minister Oyetola has brought professionalism, speed and purpose to the sector.”

    Oyetola lauded Otu’s vision and urgency, describing the Bakassi Deep Seaport as “perfectly aligned with the Renewed Hope Agenda of President Bola Tinubu.” 

    He added: “The Governor’s passion, speed and dedication stand out. Out of several similar projects nationwide, Bakassi shows strong promise of being the first to be realized. The Federal Government is happy to support this initiative and will work closely with the state to ensure its successful delivery.”

    Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Dr. Jobson Osedion Ewalefoh, described the project as “a game-changer for Nigeria’s maritime and logistics ecosystem.” 

    He said: “The Bakassi Deep Seaport will serve as a new maritime gateway for the North-Central and North-East, function as a logistics hub for West and Central Africa, create thousands of jobs, and position Nigeria as a preferred maritime destination through its greenfield design, industrial cluster and Free Trade Zone.”

  • Fed Govt backs Bakassi Deep Seaport as Oyetola issues compliance certificate

    Fed Govt backs Bakassi Deep Seaport as Oyetola issues compliance certificate

    The Bakassi Deep Seaport has achieved a major regulatory milestone as the Minister of Marine and Blue Economy, Adegboyega Oyetola, presented the project’s Certificate of Compliance to Cross River State Governor, Bassey Otu, following recent approval by the Federal Executive Council (FEC).

    The presentation, which took place in Abuja, signals fresh momentum for the deep seaport project and reinforces the federal government’s commitment to expanding the country’s maritime infrastructure under President Bola Tinubu’s Renewed Hope Agenda.

    Presenting the certificate, Oyetola described the Bakassi Deep Seaport as a strategic national asset capable of repositioning Nigeria as a competitive maritime and logistics hub. He assured that the federal government would continue to support Cross River State to ensure the successful delivery of the project.

    “This project has the capacity to significantly boost livelihoods, create jobs, and expand economic opportunities not only for Cross River State but for Nigeria as a whole,” Oyetola said.

    He also commended Otu for what he described as the commitment and pace at which the state government is driving the project, adding that sustained collaboration between the federal government, the state, and private sector partners would be critical to bringing the port to fruition.

    The minister linked the project directly to the administration’s broader economic and infrastructure reform agenda, noting that deep seaports remain central to Nigeria’s ambition to become a leading maritime and logistics hub in Africa.

    Receiving the certificate, Otu described the moment as historic, calling it a major milestone in Nigeria’s effort to unlock the full potential of the marine and blue economy.

    “Receiving this certificate is a significant boost that brings balance and momentum to our pursuit. I am confident that with the professionalism, diligence, and commitment of the ministry and private sector players, we are firmly on track with the deep seaport project,” he said.

    The governor said Cross River State is strategically positioned to play a leading role in Nigeria’s maritime development, drawing comparisons with Brazil and other coastal nations that have successfully leveraged maritime assets to drive economic growth.

    He also commended the president for establishing the Ministry of Marine and Blue Economy and for appointing Oyetola as minister, describing both decisions as timely and critical to the growth of the sector.

    Also speaking, the Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Jobson Ewalefoh, described the Bakassi Deep Seaport as a game-changer for Nigeria’s maritime and logistics ecosystem.

    According to him, the project would open a new maritime gateway for the country’s North-Central and North-East regions, while strengthening Nigeria’s position as a major logistics hub for West and Central Africa.

    The Bakassi Deep Seaport is expected to complement existing port infrastructure, decongest major gateways and support the Federal Government’s drive to expand trade, boost revenue and deepen participation in the blue economy.

  • Otu excited as FG unveils strategic roadmap for Bakassi deep seaport

    Otu excited as FG unveils strategic roadmap for Bakassi deep seaport

    Cross River Governor Bassey Edet Otu has expressed profound excitement following the Federal Government’s unveiling of a new strategic framework that priorities the completion of the Bakassi Deep Seaport. 

    The roadmap, encapsulated in the newly launched National Policy on Marine and Blue Economy, identifies Bakassi among nine key deep seaports marked for accelerated development across Nigeria.

    Speaking at the official presentation of the policy in Lagos, Minister of Marine and Blue Economy, Mr. Gboyega Oyetola, described the initiative as a transformative step towards positioning Nigeria as the leading maritime hub in West and Central Africa. “This policy signals a new dawn for the sector. Our objective is clear: to catalyze sustainable development by accelerating the completion of critical deep seaports that will drive economic transformation,” he remarked.

    Reacting to the announcement, Otu welcomed the development as timely and visionary, describing the Bakassi Deep Seaport as the crown jewel of his administration’s economic blueprint. 

    “This project is not only central to the industrial future of Cross River, it is a national asset capable of unlocking regional prosperity and redefining Nigeria’s place in global maritime trade,” the Governor affirmed. 

    He lauded the Federal Government’s commitment and foresight in aligning national infrastructure goals with the needs of coastal states.

    Read Also: Otu lauds Southsouth transformation drive, declares support for Tinubu

    Otu lamented that at present, Nigeria’s shipping activities are short changed as only 21 per cent account for cargoes coming into the country, with 79 per cent going to countries such as Benin, Togo and Ghana. 

    He explained that the reason for this is because the existing ports in Nigeria lack depth and capacity, making it difficult to accommodate bigger vessels. 

    According to the Governor, “the implication, therefore, is that cargoes meant for Nigeria ports are consequently smuggled into the country from the 79 per cent of cargoes that find their way into neighbouring countries. In effect, one hundred per cent of those cargoes were originally meant to be shipped directly into Nigeria. So, the conception of the Bakassi Deep seaport, and of course, when eventually completed, will address the obvious shipping nightmare Nigeria is currently experiencing.”

    Widely regarded as a strategic gateway to the Gulf of Guinea and a crucial link for the North, South-East, and South-South corridors, the Bakassi Deep Seaport has long been touted as a game-changer. With this renewed federal commitment, stakeholders believe that the project now has the institutional backing and political momentum required for full realization.

    The policy also outlines an ambitious 7 per cent annual growth target for the marine and blue economy sector, anchored on the exploitation of Nigeria’s over 850-kilometre coastline and expansive inland waterways. Other seaports listed for development include Badagry, Olokola, Ondo, Bonny, Burutu, Benin, Ibom, and Agge. These ports, once completed, are expected to decongest existing facilities, spur regional trade, and usher in a new era of maritime-driven economic growth.