{
  "id": 19848662,
  "title": "Bakassi seaport to decongest Lagos ports, cut cost of goods - Shettima",
  "url": "https://urgent.news/2026/11/13/bakassi-seaport-to-decongest-lagos-ports-cut-cost-of-goods-shettima",
  "topic": "world",
  "section": "World",
  "published": "2026-11-13T17:55:33.000Z",
  "source": {
    "name": "Daily Post Nigeria",
    "slug": "daily-post-nigeria",
    "url": "https://dailypost.ng/2026/11/13/bakassi-seaport-to-decongest-lagos-ports-cut-cost-of-goods-shettima/"
  },
  "original_language": "en",
  "account": "Vice-President Kashim Shettima unveiled plans for the $3.5 billion Bakassi Deep Seaport in Cross River State, stating it would alleviate congestion at Lagos ports, lower the cost of transporting goods, and boost Nigeria's access to global markets. During the groundbreaking ceremony in Ikang, Shettima emphasized that the project serves as a strategic national investment, aiming to create an eastern maritime economic corridor linking the South-South, South-East, Middle Belt, and North-East regions to regional and international markets. He clarified that the seaport was not intended to replace Lagos but to complement it, as over 80% of Nigeria's foreign trade currently relies on Lagos, causing shipping delays and inflated goods prices. Shettima highlighted that the Bakassi port would facilitate the movement of agricultural produce, solid minerals, and manufactured goods from across the country to international markets, specifically mentioning cocoa, rice, and timber. The Vice-President called on the people of Bakassi and Cross River State to support the project, ensuring it isn't undermined by political interference or misinformation. Earlier, Governor Bassey Otu of Cross River State mentioned that the project had faced political, administrative, legal, and environmental challenges since its inception under a previous administration, but the state government had secured the required federal approvals. Otu emphasized that the project would be executed through a public-private partnership and encouraged local and international investors to participate in sectors such as shipping, maritime logistics, fishing, shipbuilding, and related industries. The African Export-Import Bank, represented by Dr. George Elombi, is the lead arranger and financial adviser for the $3.5 billion project, aiming to enhance access to regional and international markets through complementary infrastructure like roads, electricity, and efficient customs services.",
  "summary": "Vice-President Kashim Shettima has said the proposed $3.5 billion Bakassi Deep Seaport in Cross River State will ease congestion at Lagos ports, reduce the cost of moving goods and expand Nigeria's access to international markets. Shettima spoke on Friday while representing President Bola Tinubu at the groundbreaking ceremony of the project in Ikang, Bakassi Local […] Bakassi seaport to decongest…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}