President Bola Tinubu has flagged off the construction of the $3.5bn Bakassi deep seaport in Cross River State, a project expected to position Nigeria as a major maritime gateway for West and Central Africa.
Tinubu, represented by Vice-President Kashim Shettima, performed the groundbreaking ceremony in Bakassi on Friday, describing the project as a major economic investment capable of transforming the state and boosting Nigeria’s blue economy.
The President said the project would break a longstanding barrier to the development of the coastal community, which he noted had been associated with loss rather than economic opportunities.
“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,” he said.
“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.”
Tinubu added that the ceremony was not merely a symbolic event but the beginning of a project expected to reshape the economic fortunes of Cross River State and Nigeria.
In a goodwill message, the Managing Director of the Nigerian Ports Authority, Abubakar Dantsoho, said the port would transform the country’s maritime sector, stimulate regional trade and attract investment into the blue economy.
He said the facility was designed to serve as a maritime hub for Nigeria, the Gulf of Guinea and countries across the Sahel region.
Dantsoho disclosed that the project, being developed under a public-private partnership arrangement and backed by a $3.5bn facility from the African Export-Import Bank, would accommodate ultra-large container vessels.
According to him, the capacity to receive larger ships would reduce the need for frequent maintenance dredging and strengthen Nigeria’s competitiveness in international shipping and logistics.
The NPA chief also said the port would be supported by a dedicated 275-kilometre, six-lane Calabar-Ogoja-Gakem superhighway to provide an evacuation corridor to the North-Central and North-Eastern regions.
He said the infrastructure would position the port as a cost-effective transshipment gateway for landlocked countries, including Chad, Niger Republic, Mali and Burkina Faso.
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Dantsoho noted that the four countries had a combined population of approximately 101 million people, presenting a significant market for regional maritime trade.
“The Bakassi Deep Sea Port therefore presents an important opportunity to strengthen regional trade connectivity, facilitate access to international shipping routes and position Nigeria as a preferred maritime gateway for the wider West and Central African markets,” he said.
The NPA managing director called for sustained investment in port infrastructure, technology and operational efficiency to improve the competitiveness of Nigerian ports.
He also commended Tinubu for ongoing modernisation projects at the Western and Eastern ports, saying the investments would expand capacity, improve efficiency and enable Nigerian ports to accommodate larger vessels.
Dantsoho reaffirmed the NPA’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 enhance Nigeria’s maritime competitiveness, strengthen regional integration and create economic opportunities.
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