The Director General of the Infrastructure Concession Regulatory Commission (ICRC), Dr Jobson Oseodion Ewalefoh has said that the construction of the $3.5 billion Bakassi Deep Seaport will commence soon under the administration of Gov. Bassey Otu of Cross River State.

Ewalefoh stated this at a High-level Stakeholders’ meeting where a statement  of endorsement for the port project was signed. He assured that the project will be completed in record time.

Ewalefoh said that his assurance was premised on four factors; the fact that the government of the state had demonstrated the great commitment and zeal required  for the project,  the newly streamlined ICRC PPP processes; the securing a financier for the project; and the support of all other stakeholders present.

The $3.5 billion project whose funding has been secured from the African Export-Import Bank (AfreximBank), is to be executed as a Public Private Partnership (PPP) project.

“We have streamlined our PPP processes to ensure that they are faster than they used to be. We are not compromising standards, we are only making the process more efficient and that I have commenced as the  DG of ICRC.

“With the support of the Ministry of Marine and Blue Economy, Nigerian Ports Authority (NPA), Nigerian Shippers Council and all the stakeholders, my good news for you is that in your tenure as Governor of Cross River State, we will do the ground breaking and complete the project.

“You have demonstrated that you have what it takes to do it, just  like President Tinubu have given confidence to investors to bring their funds to Nigeia.

“This is not a project that you started, the baton was only handed over to you, but like the man on the last lap, you are running the fastest and you will cut the tape: With the team you have assembled and the activities that are going on, you will arrive at the destination of the Bakassi Deep Seaport.

“I am convinced that in your tenure, with your team, Bakassi Deep Seaport will be a reality to the people of Cross River state and to Nigerians,” he said.

The DG said that the port was very important as it will diversify the traffic from the Western Port and serve as a succor to the Eastern parts of Nigeria.

He added that the Bakassi Deep Seaport is an Agro-Value-Chain port that will explore the potentials in the nation’s agricultural sector in the South-South part of Nigeria, the North as well as all of Africa.

The DG thanked AfreximBank for believing in the state and in Nigeria. He used the opportunity to reassure investors that Nigeria was a choice destination for investment opportunities.

A high point of the meeting was the signing of the statement of endorsement by all critical stakeholders to the projects including the ICRC, the Cross River State Government, Nigeria Ports Authority (NPA), and Nigeria Shippers Council, among others. END.

Signed:

Ifeanyi Nwoko

Acting Head, Media and Publicity

07034335888

For enquiries send a mail to: info@icrc.gov.ng