The Infrastructure Concession Regulatory Commission (ICRC) has confirmed that construction of the $3.5 billion Bakassi Deep Seaport will soon commence. Dr. Jobson Ewalefoh, the ICRC's Director-General made this known at a recent high-level stakeholders' meeting.
Dr. Ewalefoh noted that construction will begin under the leadership of Governor Bassey Otu of Cross River State, emphasising the project’s timely completion.
Dr. Ewalefoh highlighted several key factors supporting the project: the Cross River State government’s commitment, the newly streamlined ICRC Public Private Partnership (PPP) processes, the securing of project financing from the African Import-Export Bank (Afreximbank), and robust support from stakeholders present at the meeting.
"The ICRC has improved its PPP processes to enhance efficiency without compromising standards," Dr. Ewalefoh stated. He expressed confidence that, with the backing of the Ministry of Marine and Blue Economy and the Shippers Council, the port would become a reality during Governor Otu's tenure.
The Bakassi Deep Seaport is poised to alleviate traffic at existing Western ports while serving the Eastern regions of Nigeria. It will also focus on the agro-value-chain, tapping into the agricultural potential of Nigeria's South-South and Northern regions, as well as opportunities across Africa.
Dr. Ewalefoh extended gratitude to Afreximbank for its support and reassured investors of Nigeria’s attractiveness as an investment destination. The meeting culminated in the signing of the endorsement statement by key stakeholders, including the ICRC, Cross River State Government, Nigerian Ports Authority, and the Nigerian Shippers Council.
No comments:
Post a Comment