President Bola Tinubu has performed the groundbreaking ceremony for the $3.5 billion Bakassi Deep Seaport in Cross River State, describing the project as a major economic investment expected to position the state and Nigeria as a leading hub for the blue economy.
Tinubu, who was represented by Vice-President Kashim Shettima at the ceremony in Bakassi on Friday, said the project would transform the state’s economic prospects and strengthen Nigeria’s position in regional and international maritime trade.
The president said his visit was not merely for a ceremonial event but to mark the beginning of a project that had remained unrealised for decades.
“I am not in Calabar to cut a ribbon and dance Ekpe masquerade, but to break ground and break a centuries-old jinx,” he said.
“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.”
Speaking at the ceremony, the Managing Director of the Nigerian Ports Authority (NPA), Abubakar Dantsoho, said the deep seaport would transform Nigeria’s maritime sector, boost 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 in the Sahel region.
Dantsoho explained that the project was being developed under a public-private partnership (PPP) arrangement and backed by a $3.5 billion facility from the African Export-Import Bank (Afreximbank).
According to him, the port would be capable of receiving ultra-large container vessels (ULCVs), a capacity expected to reduce the need for frequent maintenance dredging and give Nigeria a competitive advantage in international shipping and logistics.
He said the project would also be supported by a dedicated 275-kilometre, six-lane Calabar-Ogoja-Gakem superhighway, which would provide an evacuation corridor linking the port to the North-Central and North-Eastern regions.
The NPA managing director said the road infrastructure would position the port as a cost-effective transshipment gateway for landlocked countries, including Chad, Niger Republic, Mali and Burkina Faso.
He noted that Africa accounted for 16 of the world’s 44 landlocked countries, with four in West Africa.
“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,” Dantsoho said.
“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.”
Dantsoho 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.
The NPA chief 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 port.
He expressed optimism that the project, alongside investments in existing port facilities, would strengthen Nigeria’s maritime competitiveness, promote regional integration and create economic opportunities.
