President Bola Tinubu has flagged off the construction of the $3.5 billion Bakassi Deep Seaport in Cross River State, describing the project as a major economic investment that will strengthen Nigeria’s position in the global maritime industry.
Tinubu, who was represented by Vice-President Kashim Shettima at the groundbreaking ceremony in Bakassi on Friday, said the project would transform the state and position Nigeria as a leading hub for the blue economy.
The President described the seaport as a fiscal game-changer, saying its commencement marked the end of years of uncertainty surrounding the project.
Speaking at the event, Tinubu said he was not in Calabar “to cut a ribbon and dance Ekpe masquerade” but to “break ground and break a centuries-old jinx.”
“Many people believed this port would never happen. They said it would be a pipe dream. They said Bakassi would only be remembered for what we lost.
“Today, we answer them with a shovel, with concrete, with steel, and with hope, a renewed hope that a dream deferred can become a dream actualised,” he said.
In his goodwill message, the Managing Director of the Nigerian Ports Authority (NPA), Abubakar Dantsoho, said the port would transform Nigeria’s maritime sector, boost regional trade and attract investments into the blue economy.
He said the facility was designed to serve as a maritime hub for Nigeria, the Gulf of Guinea and countries in the Sahel region.
Dantsoho explained that the project, being developed under a Public-Private Partnership (PPP) arrangement and backed by a $3.5 billion facility from the African Export-Import Bank (Afreximbank), would have the capacity to accommodate ultra-large container vessels (ULCVs).
According to him, the ability to receive larger vessels would reduce the need for frequent maintenance dredging while giving Nigeria a competitive advantage in international shipping and logistics.
He added that the port would be supported by a dedicated 275-kilometre, six-lane Calabar-Ogoja-Gakem superhighway, which would provide an evacuation corridor to the North-Central and North-Eastern regions of the country.
The NPA boss said the road infrastructure would also position the port as a cost-effective transshipment gateway for landlocked countries, including Chad, Niger Republic, Mali and Burkina Faso.
“Africa accounts for 16 of the world’s 44 landlocked countries, with four located in West Africa. These include Mali, Niger, Burkina Faso and Chad, with a combined population of approximately 101 million people,” he said.
He added that the Bakassi Deep Seaport presented an opportunity to strengthen regional trade connectivity, improve access to international shipping routes and position Nigeria as a preferred maritime gateway for the wider West and Central African markets.
Dantsoho also stressed the need for sustained investment in port infrastructure, technology and operational efficiency to enhance the competitiveness of Nigerian ports.
He commended Tinubu for ongoing modernisation projects at the Western and Eastern ports, noting that the investments would expand capacity, improve operational efficiency and enable Nigerian ports to accommodate larger vessels.
The NPA managing director reaffirmed the authority’s commitment to working with the Cross River State Government, private investors, technical partners and other stakeholders to ensure the successful delivery and operation of the Bakassi Deep Seaport.
He expressed optimism that the project, alongside investments in existing port facilities, would strengthen Nigeria’s maritime competitiveness, promote regional integration and create new economic opportunities.
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