Cross River State Governor, Senator Bassey Otu, has announced that the proposed $2 billion Bakassi Deep Seaport project has officially entered its execution stage, marking a major step toward the realisation of one of Nigeria’s most ambitious maritime infrastructure projects.
The disclosure was made during a stakeholders’ sensitisation forum held in Calabar, where government officials, investors, and key stakeholders gathered to discuss the progress and future prospects of the seaport initiative.
Speaking at the event, the Senior Special Adviser to the Governor on International Cooperation and Investment, Rev. Victor Edet, described the project as a strategic economic asset that would position Cross River State as a major trade and logistics hub in West and Central Africa.
According to him, the Bakassi Deep Seaport is expected to significantly boost regional commerce, attract foreign direct investment, create employment opportunities, and strengthen Nigeria’s participation in the African Continental Free Trade Area (AfCFTA).
The proposed seaport, designed with an estimated depth of 18 metres, will be capable of receiving large cargo vessels directly, reducing dependence on transshipment operations currently common in other ports.
Government officials noted that the project will also feature a 275-kilometre evacuation corridor supported by road and rail infrastructure to ensure efficient movement of goods and services across the region.
The Cross River State Government believes the seaport will serve as a gateway for international trade with neighbouring countries such as Cameroon, Equatorial Guinea, Gabon, Chad, Congo, and Niger.
Chairman of the Cross River Internal Revenue Service, Dr. Edwin Okon, expressed confidence that the project could become operational within the next five years following approvals already secured from the Federal Executive Council.
He further revealed that the project is already attracting significant interest from foreign investors and international development partners.
As part of efforts to secure additional global partnerships and financing, the state government is expected to present the Bakassi Deep Seaport project at an upcoming international trade fair in China.
The project has also recorded notable milestones in recent months, including the presentation of a Certificate of Compliance by the Federal Ministry of Marine and Blue Economy and the ratification of shareholders’ agreements involving foreign investment partners.
When completed, the Bakassi Deep Seaport is expected to transform Cross River’s economy, expand Nigeria’s maritime capacity, and stimulate industrial and commercial growth across the Gulf of Guinea region.
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