Governor Otu Receives Compliance Certificate For $3.5bn Bakassi Deep Seaport

Governor Bassey Otu of Cross River State has applauded the Federal Government for its support for the Bakassi Deep Seaport, describing it as a momentous occasion towards making the country a hub for maritime activities.

The governor gave the commendation when he received the certificate of compliance from the Minister of Marine and Blue Economy, Adegboyega Oyetola, at the ministry’s headquarters in Abuja on Wednesday.

The Federal Executive Council last week approved the Bakassi Deep Seaport as one of three major transformative Public–Private Partnership (PPP) projects.

The Deep Seaport has been described as a strategic maritime infrastructure project expected to attract about $3.5 billion in private investment.

Speaking at the handover ceremony, Governor Otu said it was a major milestone as Cross River State is strategic to the country realising its maritime potential like Brazil and other coastal countries with robust maritime economy.

The Cross River Governor stressed that with population explosion and limited resources, projects like the deep seaport offers a veritable avenue for increased investment and job creation.

“Today is historic and a major milestone in our march towards realising a veritable marine and blue economy through the Bakassi Deep Seaport. Nigeria at the moment is underperforming in marine economy. So, Cross River State is strategic and well-positioned to harness the potential of the sector.

“Receiving this certificate today is a big addition to create a balance in our pursuit. I am confident that with the astute professionalism, diligence and commitment of the ministry and private sector players, we are on track with the deep seaport,” the governor said.

He commended President Bola Tinubu for his significant effort in establishing the Ministry of Marine and Blue Economy, and especially in the appointment of the minister.

In his response, Minister Oyetola lauded the vision and passion of Governor Otu over the Bakassi Deep Seaport, stressing that it aligns with the Renewed Hope Agenda of President Tinubu.

He expressed the hope that the project will boost livelihoods and the economy of the state and country as a whole.

He was particularly full of praise for the speed and dedication of Governor Otu to the project, noting that though there are six other of such projects ongoing, the Bakassi seaport holds the prospect of being the first to being realised.

Oyetola said the federal government was happy to supporting the project and will continue to collaborate with the state government to its delivery.

The Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Dr. Jobson Osedion Ewalefoh, who was full of applause for the Cross River Governor, described the project as a game-changer for Nigeria’s maritime and logistics ecosystem.

“The Bakassi Deep Seaport will serve as a new maritime gateway for Nigeria’s North-Central and North-East regions, while also functioning as a major logistics hub for West and Central Africa.

“It is a greenfield development designed to accommodate large vessels and integrated with an industrial cluster and a Free Trade Zone. The project will create thousands of jobs and position Nigeria as a preferred maritime destination,” he stated.