The Infrastructure Concession Regulatory Fee (ICRC) says the development of the $3.5 billion Bakassi deep seaport will begin quickly.
Jobson Ewalefoh, director-general of ICRC, spoke on Monday at a high-level stakeholders’ assembly the place a press release of endorsement for the port mission was signed.
On Could 15, Bassey Otu, governor of Cross River state, stated a $3.5 billion mortgage has been secured from the African Export-Import Bank (Afreximbank) for the mission.
In accordance with Ewalefoh, the development shall be executed as a public-private partnership (PPP) mission.
He additionally stated the mission shall be accomplished in document time.
Ewalefoh stated his assurance was premised on 4 elements, which embody Cross Rivers’ dedication and zeal for the mission, the newly streamlined ICRC public-private partnership (PPP) processes, securing a financier for the mission, and the assist of all different stakeholders current.
“We have now streamlined our PPP processes to make sure that they’re sooner than they was,” he stated.
“We’re not compromising requirements, we’re solely making the method extra environment friendly and that I’ve commenced because the DG of ICRC.
“With the assist of the Ministry of Marine and Blue Financial system, Nigerian Ports Authority (NPA), Nigerian Shippers Council and all of the stakeholders, my excellent news for you is that in your tenure as Governor of Cross River State, we are going to do the groundbreaking and full the mission.
“You will have demonstrated that you’ve got what it takes to do it, similar to President Bola Tinubu has given confidence to buyers to convey their funds to Nigeria.
“This isn’t a mission that you just began, the baton was solely handed over to you, however like the person on the final lap, you might be working the quickest and you’ll reduce the tape: With the group you’ve got assembled and the actions which are occurring, you’ll arrive on the vacation spot of the Bakassi Deep Seaport.
“I’m satisfied that in your tenure, along with your group, Bakassi Deep Seaport shall be a actuality to the individuals of Cross River state and Nigerians.”
Talking on the importance of the port, the ICRC director-general stated the power would “diversify” the site visitors from the western port and function a succour to the japanese elements of Nigeria.
He added that the Bakassi deep seaport is an agro-value-chain port that may discover the potentials within the nation’s agricultural sector within the south-south a part of Nigeria, the north in addition to all of Africa.
Ewalefoh additionally thanked AfreximBank for believing in Nigeria, reassuring buyers that the nation is a alternative vacation spot for funding alternatives.
