President Bola Ahmed Tinubu officiated the groundbreaking ceremony for the Bakassi Deep Seaport, calling it a significant milestone in Nigeria’s efforts to diversify its economy. The event took place in Calabar, with Vice-President Kashim Shettima representing Tinubu on November 13, 2026.
The president emphasized that the port is a strategically important national investment, aimed at creating new commercial routes, stimulating industrial growth, and generating employment opportunities. Tinubu acknowledged the efforts of Cross River State Governor Bassey Edet Otu and his administration in bringing the project to fruition.
Originally conceived in 2014 with an Environmental and Social Impact Assessment completed in 2015, the project’s momentum was renewed under Governor Otu, who faced various challenges including financial hurdles and securing funding of $3.5 billion through Afreximbank.
Tinubu highlighted that the Bakassi Deep Seaport will handle larger vessels that currently avoid Nigerian ports, aiming to alleviate congestion at existing ports and enhance overall trade efficiency. He affirmed that roughly 90 percent of cargo transport happens via sea, yet Nigeria captures only a small share of regional maritime trade. Thus, the new facility is expected to strengthen Nigeria’s competitiveness in the maritime sector.
In addition to boosting industrial and investment opportunities, the Bakassi port will connect to a 260-kilometre superhighway designed for efficient cargo movement. Governor Otu reiterated the project’s potential benefits for various sectors including logistics, tourism, and shipbuilding, positioning Cross River as a maritime hub in the Gulf of Guinea.
The Minister for Marine and Blue Economy, Dr. Gboyega Oyetola, commended Tinubu for unlocking Nigeria’s maritime potential, referencing recent policy updates and revenue improvements within the sector. Oyetola expressed that the port would not only create job opportunities but also enhance market access for businesses throughout Cross River and beyond.
The completion of the Bakassi Deep Seaport is viewed as pivotal for the local economy and for Nigeria’s maritime future, aiming to relieve pressure on Lagos and foster trade across the region.
