The Federal Government has issued a Certificate of Compliance for the proposed Bakassi Deep Seaport in Cross River State, marking a major project milestone.
The certificate came from the Federal Ministry of Marine and Blue Economy, strengthening the projectโs regulatory standing and investment outlook.
Governor Bassey Otu of Cross River State received the approval in Abuja from the Minister of Marine and Blue Economy, Adegboyega Oyetola.
He described the development as a defining moment in the stateโs economic transformation drive.
โThis certificate moves the Bakassi Deep Seaport from vision to verifiable reality,โ Otu said. โIt signals confidence in Cross River State and Nigeriaโs maritime future.โ
The governor noted that the compliance approval followed the Federal Executive Councilโs endorsement of the seaport as a Public/Private Partnership project.
He said the FEC decision sent a strong signal to investors about the projectโs credibility and bankability.
Strategic Maritime Investment
The Bakassi Deep Seaport is expected to attract about $3.5 billion in private sector investment when fully developed.
State officials project the port will significantly boost shipping capacity, logistics efficiency and industrial growth.
Governor Otu said the project goes beyond cargo handling and port operations.
โThis is about jobs, industrialisation and positioning Nigeria competitively within global trade routes,โ he said.
He stressed that Cross Riverโs coastal location gives it strategic importance in Nigeriaโs blue economy ambitions.
According to him, large-scale maritime infrastructure offers sustainable pathways for investment inflows and mass employment.
Federal Government Support
Minister Adegboyega Oyetola praised the Cross River State Governmentโs commitment and speed in advancing the project.
He described the Bakassi Deep Seaport as aligned with President Bola Tinubuโs Renewed Hope Agenda.
โAmong several similar initiatives nationwide, Bakassi shows strong promise of being realised first,โ Oyetola said.
He assured that the Federal Government would continue to support the project through close intergovernmental collaboration.
Economic and Regional Impact
The Director-General of the Infrastructure Concession Regulatory Commission, Dr Jobson Ewalefoh, described the seaport as transformative.
He said the project would serve as a maritime gateway for the North-Central and North-East regions.
Ewalefoh added that it would function as a logistics hub for West and Central Africa.
He noted that the greenfield port design, industrial cluster and Free Trade Zone could create thousands of direct and indirect jobs.
