President Bola Tinubu conducted the groundbreaking ceremony for the $3.5 billion Bakassi Deep Seaport in Cross River State.
Speaking at the Friday ceremony in Bakassi, Tinubu—represented by Vice President Kashim Shettima—hailed the project as a fiscal game-changer poised to position both the state and Nigeria as major hubs for the blue economy.
Speaking at the event, the president said he was not in Calabar “to cut a ribbon and dance Ekpe masquerade” but to “break ground and break a centuries-old jinx.”
“Many people believed this port would never happen. They said it would be a pipe dream. They said Bakassi would only be remembered for what we lost,” he said.
“Today, we answer them with a shovel, with concrete, with steel, and with hope, a renewed hope that a dream deferred can become a dream actualised.”
Bakassi deep seaport to boost regional trade
In a goodwill message delivered at the ceremony, Nigerian Ports Authority (NPA) Managing Director Abubakar Dantsoho stated that the port will transform Nigeria’s maritime sector, boost regional trade, and attract fresh investments into the blue economy.
He explained that the facility is designed to serve as a strategic maritime hub for Nigeria, the Gulf of Guinea, and landlocked nations across the Sahel.
Developed under a public-private partnership (PPP) framework and backed by a $3.5 billion financing facility from the African Export-Import Bank (Afreximbank), the project will accommodate ultra-large container vessels (ULCVs), according to Dantsoho.
He added that the capacity to berth larger ships will give Nigeria a competitive edge in global shipping and logistics while reducing the need for frequent maintenance dredging.
The NPA chief further noted that a dedicated 275-kilometer, six-lane Calabar–Ogoja–Gakem expressway will support the seaport, serving as a vital evacuation corridor to Nigeria’s north-central and northeastern regions.
Backstory…
The Bakassi Deep Seaport project has been in the pipeline for more than a decade, having been conceived in 2014 under the Cross River State Government.
However, it suffered years of delays due to funding difficulties, administrative bottlenecks and other political and environmental challenges.
The project also failed to make significant progress under former Governor Ben Ayade, despite earlier assurances that construction would commence.
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