Tinubu flags off Bakassi seaport in Cross River

President Bola Tinubu officially launched the construction of the Bakassi Deep Seaport in Cross River State on Friday, highlighting its role as a key national investment aimed at boosting maritime trade, industrial growth and job creation. Speaking alongside Vice-President Kashim Shettima at the groundbreaking ceremony in Bakassi, Tinubu emphasized that the port would create new commercial routes, bolster Nigeria's position in regional and international trade, and alleviate pressure on existing ports, particularly Lagos.

The project, first conceived in 2014, features a 20-meter draft to accommodate large vessels and will be connected to a 260-kilometer superhighway to facilitate the transportation of goods nationwide. Tinubu stressed that the port, expected to be operational by 2027, is not a competitor to Lagos but a complement, as Lagos handles over 80% of Nigeria's foreign trade.

He argued that Nigeria had not fully utilized its coastline along the Gulf of Guinea, while neighboring countries benefited from cargo that could otherwise pass through Nigerian ports. The President stressed the importance of diversifying Nigeria's maritime gateways and improving access to international markets. He also highlighted the project's potential to create jobs in logistics, trade, fishing, shipping, tourism, and shipbuilding, positioning Cross River as a maritime hub in the Gulf of Guinea.

Tinubu urged residents to support the project, acknowledging the state's historical losses following the Bakassi peninsula ruling and the loss of oil revenue. Governor Bassey Otu of Cross River State described the event as a historic milestone, crediting the Federal Government's support for reviving the project, which had faced numerous challenges.

The state had completed preparatory work, including environmental assessments and securing federal approvals. Otu outlined the project's potential to generate opportunities in various sectors and position Cross River as a key player in maritime trade. The Minister of Marine and Blue Economy, Gboyega Oyetola, praised the project's potential to translate Nigeria's maritime resources into investment, employment, and economic growth, emphasizing the improvement in revenue assurance and efforts to curb leakages in the sector.