Work to start soon on $3.5 billion Bakassi deep-sea port – ICRC

The Infrastructure Concession Regulatory Commission (ICRC) has assured all stakeholders that construction of the $3.5 billion Bakassi deep seaport will commence soon.

The development of seaports, agro value chain ports that will explore the potential of the national agricultural sector in the South-South region of Nigeria, the northern region and other parts of Africa will be implemented as a Public-Private Partnership (PPP) project.

ICRC Director-General Jobson Ewalefoh gave the assurance at a high-level stakeholder meeting in Abuja where a statement of support for the port project was signed.

He said the assurance was based on four factors – Cross Rivers’ commitment and passion for the project, the ICRC’s newly simplified PPP process, securing financiers for the project, and support from all other stakeholders.

The Director General said: “We have simplified our PPP process to ensure that it is faster than ever before.

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“We are not compromising on standards, we are simply making the process more efficient, and I have started that as Director-General of the ICRC.

“With the support of the Ministry of Marine Affairs and Blue Economy, Nigerian Ports Authority (NPA), Nigerian Shippers Council and all stakeholders, my good news to you is that during your tenure as Governor of Cross River State, we will break ground and complete the project.

“You have shown that you have what it takes to do it, just as President Bola Tinubu has given investors the confidence to bring their funds to Nigeria.

“This is not a project that you start, the baton is just passed to you, but like the person in the last lap, you run the fastest and you will cut the finish line: With the team you have formed and the activities that are ongoing, you will arrive at the destination of Bakassi Deep Sea Port.

“I am confident that under your tenure, with your team, the Bakassi Deep Sea Port will become a reality for the people of Cross River State and Nigerians.”

By: Babajide Okeowo

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