{"id":23071,"date":"2026-11-14T00:13:54","date_gmt":"2026-11-13T23:13:54","guid":{"rendered":"https:\/\/maritimafrica.com\/en\/?p=23071"},"modified":"2026-11-14T00:13:54","modified_gmt":"2026-11-13T23:13:54","slug":"nigeria-president-tinubu-breaks-decades-long-jinx-flags-off-3-5bn-bakassi-deep-seaport","status":"publish","type":"post","link":"https:\/\/maritimafrica.com\/en\/nigeria-president-tinubu-breaks-decades-long-jinx-flags-off-3-5bn-bakassi-deep-seaport\/","title":{"rendered":"Nigeria : President Tinubu Breaks Decades-Long Jinx, Flags Off $3.5bn Bakassi Deep Seaport"},"content":{"rendered":"

\"\"<\/a><\/p>\n

…Dismisses rumours that the South-West and Abuja never wanted a port to operate in Cross River or anywhere outside Lagos<\/em><\/p>\n

…VP Shettima urges subnationals to unlock competitive advantages at 6th AfSNET Investment Conference<\/em><\/p>\n

President Bola Ahmed Tinubu has performed the groundbreaking ceremony for the multibillion-dollar Bakassi Deep Seaport, describing the project as a fiscal game-changer set to catapult Cross River State and Nigeria into a leading hub for the blue economy.<\/p>\n

The presidential flag-off of the $3.5 billion project on Friday in Bakassi, Cross River State, has broken a decades-long jinx and revived hopes for a deep seaport in Cross River State, marking a major milestone in efforts to transform the country’s economy.<\/p>\n

Speaking during the groundbreaking ceremony of the project, the Nigerian leader, who was represented by his deputy, Vice President Kashim Shettima, stated categorically that he was not in Calabar “to cut a ribbon and dance Ekpe masquerade” but to “break ground and break centuries-old jinx.”<\/p>\n

“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. 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,” he added.<\/p>\n

President Tinubu firmly dismissed long-standing rumours of a port monopoly, suggesting that federal authorities or regional interests in Abuja and the South-West had deliberately suppressed the development of seaports in other parts of Nigeria.<\/p>\n

He stated that his presence, shovel in hand, served as concrete proof of his administration\u2019s commitment to building a decentralised, resilient maritime economy across the country.<\/p>\n

“There is a rumour I hear in some corners. That the West, Lagos, or Abuja never wanted a port to work anywhere outside Lagos. If that were true, would I be standing here today with a shovel in my hand? Lagos is not our enemy,” he maintained.<\/p>\n

Further addressing misconceptions about regional trade rivalries, the Nigerian leader pointed out that the nationalist in him could never stand such a regional monopoly, framing Lagos not as a competitor to other states but as a foundational partner whose commercial success must now be replicated nationwide.<\/p>\n

His words: “Lagos is our elder brother in trade. No country eats with one hand. No country carries all its load on one shoulder. That shoulder will break. When over 80% of our foreign trade flows through Lagos, and Lagos alone, that is not strength.<\/p>\n

“That risks congestion: ships queueing, goods delayed, and prices rising in the markets of Calabar, Onitsha, and Maiduguri. The nationalist in me cannot stand that. This project is not against Lagos. It is for Nigeria. When Lagos is free, Nigeria breathes. When Calabar works, Nigeria walks on two legs.”<\/p>\n

President Tinubu explained why the flag-off of the project broke a decades-long jinx, saying it was a strategic revival of a long-dormant maritime and trade infrastructure project first envisioned during the colonial era and re-engineered in 2014, with its Environmental and Social Impact Assessment (ESIA) completed by March 2015.<\/p>\n

He noted that the transformative plan centred on a 20-metre-draft deep seaport, engineered to be among the largest in Africa, while the facility was designed to accommodate massive, high-capacity vessels that currently bypass Nigerian waters.<\/p>\n

According to him, the project was paired with a 260-kilometre superhighway to serve as its evacuation corridor, so that what lands here can move to the North, to the East, and to the West.<\/p>\n

He continued: “But like a canoe without a paddle, the idea drifted into the doldrums until His Excellency, Governor Bassey Otu, gave it new legs. Securing $3.5 billion from Afreximbank became the oxygen it needed. In February 2025, the state formalised a PPP to drive it forward.<\/p>\n

\"\"<\/a><\/p>\n

“Today, the Federal Government is standing fully behind it. This is beyond a Cross River dream. It is a Nigerian project. It is a feather in my shackle-breaking cap. It is a poverty breaker. It is history rewritten with love and commitment.”<\/p>\n

The President pitched Nigeria\u2019s blue economy as a multitrillion-naira goldmine, declaring that maritime wealth could generate $44 billion annually once the nation captured the regional cargo traffic currently slipping to its neighbours.<\/p>\n

Sadly recalling how Cross River lost the peninsula, conceding oil wells and revenue through the verdict of the International Court of Justice, he hailed the people for not losing their character, hospitality and faith, stating that the Bakassi Peninsula was not the end of their story but the beginning of their next chapter.<\/p>\n

“The same water that took something from you will now bring something back. The Atlantic that people feared will now feed your children. Please stand with this project, protect it from politics and rumour and own it in your soul and by faith.”<\/p>\n

President Tinubu urged the people to remember who stood with them on Election Day, “not just with words, but with a shovel, funding, and federal might.<\/p>\n

“Do not forget the President who came to break ground and plant the seed of change from a civil service economy to a fast-paced, marine-backed Blue Economy. Vote for continuity. Vote for Renewed Hope,” he added.<\/p>\n

Earlier, Cross River State Governor Bassey Otu assured the people of Bakassi that their cries of yesterday had been taken away with the groundbreaking of the Bakassi Deep Seaport project.<\/p>\n

He called on potential investors offering primary and ancillary services in the maritime sector to make investment decisions on the Bakassi Deep Seaport due to its overarching benefits.<\/p>\n

“Today, a milestone of inestimable significance has been achieved through the instrument of the Renewed Hope mantra of Mr President Bola Ahmed Tinubu GCFR; by groundbreaking the construction of the long-awaited Bakassi Deep Seaport, Calabar.<\/p>\n

“When this project was conceived by the immediate past administration in the State some years ago, its implementation was encumbered by political, administrative, legal and environmental bottlenecks. Arising from these hurdles, our hope of realising the project was dim, until Mr President – Bola Ahmed Tinubu took over the mantle of leadership of Nigeria,” the governor stated.<\/p>\n

He said his administration and the people of Cross River State would forever remain grateful to the President for guiding the state through every step of the process to the point of receiving the \u201cCertificate of Compliance\u201d and final approval from the Federal Government.<\/p>\n

Also, the Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, explained that the project marked a new chapter in Nigeria’s maritime development, economic diversification and regional competitiveness.<\/p>\n

The Minister said the Renewed Hope Agenda of the Tinubu administration recognised that sustainable prosperity must be built on productive investment, modern infrastructure, private-sector participation and the efficient utilisation of the nation’s natural and economic advantages.<\/p>\n

In his remarks, the Managing Director of the Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho, said the Bakassi Deep Seaport would unlock trade relations between Nigeria and other landlocked countries, such as Chad, Niger, Mali and Burkina Faso.<\/p>\n

He added that the importance of the port was also underscored by the enormous potential of landlocked countries, noting that Africa accounts for 16 of the world’s 44 landlocked countries, with four of them located in West Africa.<\/p>\n

Also, the President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), Dr George Elombi, said the $3.5 billion infrastructure project was an important step for Nigeria, Africa, regional trade and the African Continental Free Trade Area Agreement.<\/p>\n

Elombi, represented by the Executive Vice-President, Intra-African Trade and Export Development, Afreximbank, Mrs Kanayo Awani, explained that the project had the potential to strengthen Nigeria’s maritime corridor, expand port capacity and facilitate trade with neighbouring economies in West and Central Africa.<\/p>\n

VP Shettima Urges Subnationals to Unlock Competitive Advantages<\/strong><\/h3>\n

Meanwhile, the Vice President, Senator Kashim Shettima, has made a decisive call to subnational governments to unlock their unique competitive advantages to drive economic transformation.<\/p>\n

\"\"<\/a><\/p>\n

Speaking on Friday in Calabar, the Cross River State capital, during the 6th edition of the African Sub-Sovereign Governments Network (AfSNET) Investment Conference 2026, Senator Shettima emphasised the need to strengthen state governments, saying regional prosperity depended on local leaders turning untapped potential into bankable opportunities.<\/p>\n

Pointing to the theme of the conference, “The Role of Sub-Sovereigns in Catalysing Development through Trade and Investment,” he noted that economic development was ultimately experienced locally.<\/p>\n

“It is at the state, provincial, county and municipal levels that roads connect producers to markets, electricity powers industries, agricultural resources are transformed into valuable products, businesses create employment, and communities experience the benefits of economic growth.<\/p>\n

“National policies and continental frameworks provide direction, but their success depends significantly on what happens at the sub-national level,” he stated.<\/p>\n

VP Shettima maintained that states and regions were not merely administrative units but economic actors, investment destinations, production centres and critical gateways to regional and continental markets.<\/p>\n

“We must continue to strengthen the capacity of our states to identify their competitive advantages, develop investment-ready projects, attract private capital and build partnerships that deliver sustainable economic outcomes,” he added.<\/p>\n

Stanley Nkwocha
\nSenior Special Assistant to the President on Media & Communications
\n(Office of the Vice President)<\/p>\n","protected":false},"excerpt":{"rendered":"

…Dismisses rumours that the South-West and Abuja never wanted 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