Nigeria Approves $2 Billion Bakassi Deep Seaport

Must Read

FG, States, LGAs share N528.39bn FAAC allocation in Jan 2021

The Federation Account Allocation Committee (FAAC) disbursed the sum of N619.34bn to the three tiers of government in December...

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...
- Advertisement -
The Federal Government of Nigeria has approved the construction of Bakassi Deep Seaport which is currently ongoing. Cross River State Governor, Prof. Ben Ayade announced the report and said that the approval has paved way to launch the port on a commercial scale.
“We have got the official approval for the Bakassi Deep Sea Port Outline Business Case which means that the Nigerian government has now officially recognized the Bakassi Deep Sea Port and has given us the impetus to go for the full business case,” stated Prof. Ben Ayade.
Bakassi Deep Seaport

The Bakassi Deep Seaport is to become the second trade port in Nigeria, after the Apapa port and would be the maritime gateway for the country’s landlocked northeast. This is because the rest of the ports are oil terminals.

The project development is supported by the interim transaction advisors, The Infrastructure Bank, and China Harbour. The project entails an evacuation corridor and a six-lane highway linking the port with the north. The proposed six-lane highway spans 162 miles across the length of the geographical space of the state from Bakassi in the South up to Northern part of the state which borders with Benue state in North Central Nigeria.

Read Also:  ARIYA REPETE 2019: WINNERS EMERGE FROM LAGOS REGIONALS, AUDITIONS HEAD TO OTA, ABEOKUTA

The 20-metre-deep harbour will cost approximately US $800 million and will be built via a public-private partnership (PPP). Upon completion, the Bakassi port will reduce congestion faced in Lagos ports and the Onne West Africa Container Terminal in Rivers State. It will also aid in the transportation of farm produce from the north to other parts of the country.

“The outline business case proposed a 20-metre-deep harbour for transnational shipping, making it “the deepest seaport in Africa,” said Governor Ayade.

- Advertisement -
Nigeria Approves $2 Billion Bakassi Deep Seaport - Brand SpurNigeria Approves $2 Billion Bakassi Deep Seaport - Brand Spur
- Advertisement -

2 COMMENTS

  1. […] SOURCE: https://brandspurng.com/2019/10/09/nigeria-approves-2-billion-bakassi-deep-seaport/ […]

  2. […] SOURCE: https://brandspurng.com/2019/10/09/nigeria-approves-2-billion-bakassi-deep-seaport/ […]

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Nigeria Approves $2 Billion Bakassi Deep Seaport - Brand SpurNigeria Approves $2 Billion Bakassi Deep Seaport - Brand Spur

Latest News

Proposed New Measures By The African Telecommunications Union And Ericsson Set To Expand Africa’s ICT Space

African Countries and telecommunications stakeholders have today launched the first set of ATU spectrum recommendations that focus on transforming...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Nigeria Approves $2 Billion Bakassi Deep Seaport - Brand SpurNigeria Approves $2 Billion Bakassi Deep Seaport - Brand Spur