Fresh Breath of Hope in Cross River as Gov Otu Receives Compliance Certificate for $3.5bn Bakassi Deep Seaport

There was renewed optimism and a palpable sense of anticipation in Cross River State on Wednesday as Governor Bassey Otu formally received the certificate of compliance for the proposed $3.5 billion Bakassi Deep Seaport, a project widely regarded as one of the most ambitious maritime infrastructure developments in Nigeria’s recent history.

The certificate was presented to the governor by the Minister of Marine and Blue Economy, Adegboyega Oyetola, at the headquarters of the ministry in Abuja, marking a critical regulatory milestone that clears the path for the project’s implementation. The event has been described by stakeholders as a defining moment not just for Cross River State, but for Nigeria’s broader quest to reposition itself as a dominant maritime and logistics hub in Africa.

The development comes on the heels of last week’s approval by the Federal Executive Council (FEC), which endorsed the Bakassi Deep Seaport as one of three major transformative Public–Private Partnership (PPP) projects to be undertaken by the Federal Government. With an estimated private sector investment of about $3.5 billion, the deep seaport is expected to significantly expand Nigeria’s port capacity, reduce congestion at existing ports, and unlock new economic opportunities across multiple regions of the country.

Speaking during the handover ceremony, Governor Otu expressed deep appreciation to the Federal Government for its support, describing the occasion as historic and symbolic of a shared commitment to unlocking Nigeria’s maritime potential. According to him, the Bakassi Deep Seaport represents a bold step towards diversifying the nation’s economy and ensuring that coastal states like Cross River play a central role in driving growth.

“This is a historic day and a major milestone in our collective march towards building a veritable marine and blue economy through the Bakassi Deep Seaport,” Otu said. “Nigeria, at the moment, is underperforming in the marine economy, especially when compared to countries like Brazil and other coastal nations that have successfully leveraged their maritime assets. Cross River State is strategically positioned to help Nigeria reverse this trend.”

The governor emphasized that the state’s geographic location, proximity to international shipping routes, and access to the Atlantic Ocean give it a natural advantage in maritime trade. He noted that as Nigeria grapples with rapid population growth and limited resources, large-scale infrastructure projects like the Bakassi Deep Seaport provide a sustainable pathway for attracting investment, creating jobs, and stimulating long-term economic development.

“With our growing population and increasing demand for economic opportunities, this deep seaport offers a veritable avenue for increased investment, industrialisation, and massive job creation,” Otu added. “Receiving this certificate today strengthens our resolve and adds balance to our development pursuits. I am confident that with the professionalism, diligence, and commitment of the Ministry of Marine and Blue Economy, as well as private sector partners, we are firmly on track.”

Governor Otu also used the occasion to commend President Bola Ahmed Tinubu for establishing the Ministry of Marine and Blue Economy, describing it as a visionary move that underscores the administration’s commitment to economic diversification. He praised the president’s decision to appoint Adegboyega Oyetola as minister, noting that the ministry has already begun to provide clear policy direction and institutional support for maritime projects across the country.

In his remarks, Minister Oyetola lauded Governor Otu for what he described as uncommon passion, focus, and dedication to the Bakassi Deep Seaport project. He said the initiative aligns squarely with President Tinubu’s Renewed Hope Agenda, which prioritises infrastructure development, private sector participation, and inclusive economic growth.

“The vision behind the Bakassi Deep Seaport is commendable and timely,” Oyetola said. “This project has the potential to significantly boost livelihoods in Cross River State and contribute meaningfully to the national economy. It represents the kind of forward-thinking infrastructure investment that Nigeria needs at this stage of its development.”

The minister was particularly impressed by the speed at which the Cross River State Government has advanced the project through critical regulatory and planning stages. He revealed that while there are six other deep seaport projects at various stages of development across the country, Bakassi stands out for its readiness and strong institutional backing.

“Out of all the ongoing deep seaport initiatives, the Bakassi Deep Seaport holds the prospect of being the first to be realised,” Oyetola noted. “This is largely due to the commitment and hands-on approach of Governor Otu and his team. The Federal Government is happy to support this project and will continue to collaborate closely with the Cross River State Government to ensure its successful delivery.”

Adding his voice, the Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Dr. Jobson Osedion Ewalefoh, described the Bakassi Deep Seaport as a game-changer for Nigeria’s maritime and logistics ecosystem. He said the project has far-reaching implications beyond Cross River State, positioning Nigeria to better serve regional and international trade.

“The Bakassi Deep Seaport will serve as a new maritime gateway for Nigeria’s North-Central and North-East regions, while also functioning as a major logistics hub for West and Central Africa,” Ewalefoh said. “It is a greenfield development designed to accommodate large vessels, and it will be fully integrated with an industrial cluster and a Free Trade Zone.”

According to the ICRC boss, the project is expected to create thousands of direct and indirect jobs during its construction and operational phases, ranging from port operations and logistics to manufacturing and ancillary services. He added that by attracting global shipping lines and investors, the seaport would enhance Nigeria’s competitiveness in international trade and reduce reliance on ports in neighbouring countries.

Analysts believe that the Bakassi Deep Seaport could also play a crucial role in decongesting existing ports in Lagos, lowering the cost of doing business, and improving the efficiency of cargo movement across the country. For Cross River State, the project is seen as a catalyst for industrial growth, urban development, and increased internally generated revenue.

As the applause from Wednesday’s ceremony continues to resonate, expectations are now high that the Bakassi Deep Seaport will move swiftly from planning to construction. For many residents of Cross River State, the receipt of the compliance certificate represents more than just a bureaucratic milestone; it is a fresh breath of hope and a powerful signal that the long-anticipated transformation of the state’s maritime fortunes may finally be within reach.