Dr. Jobson Ewalefoh, Director-General of the Infrastructure Concession Regulatory Commission (ICRC), announced that the construction of the $3.5 billion Bakassi Deep Seaport will commence soon.
This was confirmed at a High-level Stakeholders’ meeting where key endorsements for the project were signed.
Ewalefoh emphasized that the construction will take place under the administration of Governor Bassey Otu of Cross River State, citing the state’s commitment, streamlined ICRC Public-Private Partnership (PPP) processes, secured financing from the African Import-Export Bank, and support from stakeholders as key factors for the project’s success.
The Bakassi Deep Seaport is described as crucial for diversifying traffic from existing ports and will particularly enhance agricultural value chains in Nigeria’s South-South region and beyond.
Ewalefoh expressed confidence that the project will be realized during Governor Otu’s tenure, underscoring its importance for both Cross River State and the wider Nigerian economy.
The meeting concluded with a declaration of endorsement signed by critical stakeholders, including the ICRC, the Cross River State Government, the Nigerian Ports Authority, and the Nigerian Shippers Council.