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Ayade happy as FG issues business case certificate for deep seaport

Strong green light has emerged on the aspirations of the Cross River State Governor, Ben Ayade to develop a deep seaport in Calabar as soon as possible.

This is coming on the backdrop of Monday’s issuance of a Business Case Certificate to Cross River State for the state to go ahead with plans to construct Bakassi Agro Deep Seaport by the Federal Government.

Receiving the certificate in Abuja, elated Ayade noted that the certificate would enable the state to take the next step towards the implementation of the Bakassi Agro Deep Seaport which he said is coming to help Nigeria’s quest to diversify the economy.

He said with the certificate in the kitty of the state government, convincing prospective investors will not only be easier, but take little or no time because the Bakassi Agro Deep Seaport scheme will change the narrative of shipping and maritime business in Nigeria considering the comparative advantage of the location in Nigeria.

Earlier in his briefing, the Minister of Transport, Rotimi Amaechi explained with the Business Case Certificate now in the hands of the Cross River State Government, the state project management team will have the reason to effectively seat with the management of the Nigerian Ports Authority (NPA) so as to determine how much it would invest in the ports and other issues relating to the scheme going forward.

For more than four years, the Ayade administration had been working towards the realization of Ibom Deep Seaport and has presented the proposal to a number of both foreign and indigenous investors on the viability of the port on delivery.

Also speaking, the Director General, Infrastructure Concession Regulatory Commission (ICRC), Engr Chidi Izuwah who issued the certifcate, said the project was the first of its Kind in Africa, adding that “ICRC has reviewed the outline and we are of the opinion that private sector investors can invest in the project and recover their money.”