The federal government has disclosed that the construction of the $3.5 billion Bakassi Deep Seaport is set to begin soon.
Director-general of the Infrastructure Concession Regulatory Commission (ICRC), Dr Jobson Ewalefoh, made this known at a high-level stakeholders’ meeting where a statement of endorsement for the port project was signed.
According to a statement issued by Ifeanyi Nwoko, ICRC’s acting Head of Media and Publicity, on Monday, the director-general said the construction would commence under the administration of Gov. Bassey Otu of Cross River State and would be completed in record time.
Ewalefoh was quoted to have said the assurance was based on the demonstration of commitment and zeal the Cross River state government, the newly streamlined ICRC Public Private Partnership (PPP) processes; the securing of a financier for the project; and the support of all other stakeholders present.
He further stated that the $3.5 billion project whose funding has been secured from the African Import-Export Bank (Afreximbank), is to be executed as a PPP project.
“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 Nigerians,” he said.
