President Bola Tinubu on Friday performed the groundbreaking ceremony for the $3.5 billion Bakassi Deep Seaport in Cross River State, declaring that the project would transform Nigeria’s maritime economy, boost regional trade and end decades of delays surrounding the development of a major port in the state.
The President also dismissed longstanding allegations that political and commercial interests in Lagos, the South-West and Abuja had deliberately frustrated the establishment of viable seaports outside Lagos, insisting that his administration was committed to developing a decentralised and competitive maritime sector.
Speaking at the groundbreaking ceremony in Bakassi, where he was represented by Vice President Kashim Shettima, Tinubu described the project as a fiscal game-changer capable of positioning Cross River State as a major hub for Nigeria’s blue economy.
He said the commencement of the project marked the revival of a maritime infrastructure initiative that had remained unrealised for decades despite its enormous economic potential.
The President declared that his administration was determined to move the project beyond promises and planning into actual construction.
He said he was not in Calabar “to cut a ribbon and dance Ekpe masquerade” but to “break ground and break centuries-old jinx.”
“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,” Tinubu said.
Addressing claims that successive federal administrations and influential interests in Lagos had resisted the development of ports elsewhere, Tinubu rejected suggestions of a deliberate regional monopoly.
“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 declared.
The President maintained that the commercial success of Lagos should serve as a foundation for expanding Nigeria’s maritime capacity rather than a reason to restrict development in other regions.
He argued that concentrating the country’s international trade through a limited number of ports created logistical vulnerabilities, increased transportation costs and placed unnecessary pressure on existing infrastructure.
“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.
“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,” he stated.
Tinubu explained that the Bakassi Deep Seaport project was originally conceived during the colonial era and subsequently re-engineered in 2014, with its Environmental and Social Impact Assessment completed in March 2015.
He said the proposed facility would have a 20-metre draft, enabling it to accommodate large, high-capacity vessels and potentially positioning it among Africa’s major deep seaports.
The project is also designed to be supported by a 260-kilometre superhighway intended to serve as an evacuation corridor, connecting maritime cargo to markets across northern, eastern and western Nigeria.
According to the President, the road infrastructure would be essential to ensuring that the port’s economic benefits extended beyond Cross River State.
He credited Governor Bassey Otu with reviving the initiative and securing the institutional and financial support required to advance its implementation.
“But like a canoe without a paddle, the idea drifted into the doldrums until 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,” Tinubu said.
“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.”
The President described Nigeria’s blue economy as a potentially transformative source of revenue, estimating that the country could generate as much as $44 billion annually by capturing a greater share of regional maritime cargo traffic currently handled by neighbouring countries.
He presented the figure as an economic opportunity that could be realised through expanded port infrastructure, stronger maritime services and improved regional trade connectivity.
Tinubu also reflected on Cross River State’s historical experience following the International Court of Justice ruling concerning the Bakassi Peninsula, which resulted in the territory being ceded to Cameroon.
He acknowledged the economic and emotional consequences of the development, including the state’s loss of oil wells and associated revenues, but praised the resilience of its people.
“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,” he said.
The President also used the occasion to make a political appeal, urging residents to support the continuation of his administration’s programmes.
“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.
Earlier, Cross River State Governor Bassey Otu described the groundbreaking as a historic milestone, saying it represented the fulfilment of an aspiration that had been delayed by political, administrative, legal and environmental challenges.
He said the project offered renewed economic hope to the people of Bakassi and would create opportunities for investment in maritime services and related industries.
“Today, a milestone of inestimable significance has been achieved through the instrument of the Renewed Hope mantra of Mr President Bola Tinubu; by groundbreaking the construction of the long-awaited Bakassi Deep Seaport, Calabar,” Otu stated.
The governor recalled that previous efforts to implement the project had encountered numerous obstacles, which had cast doubt on its eventual realisation.
“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 Tinubu took over the mantle of leadership of Nigeria,” he said.
Otu expressed appreciation to Tinubu for supporting the state’s efforts to secure the necessary approvals, including the Certificate of Compliance and final federal authorisation.
He also urged prospective investors in maritime operations, logistics and ancillary services to explore the commercial opportunities associated with the proposed port.
Minister of Marine and Blue Economy Adegboyega Oyetola described the groundbreaking as the beginning of a new phase in Nigeria’s maritime development, economic diversification and regional competitiveness.
He said the Tinubu administration’s Renewed Hope Agenda recognised the importance of productive investment, modern infrastructure, private-sector participation and the effective utilisation of Nigeria’s natural and economic resources.
Oyetola maintained that the Bakassi project aligned with the Federal Government’s ambition to expand maritime capacity and strengthen the contribution of the blue economy to national development.
Managing Director of the Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho, said the proposed seaport could strengthen trade connections between Nigeria and landlocked countries, including Chad, Niger, Mali and Burkina Faso.
He noted that Africa accounted for 16 of the world’s 44 landlocked countries, with four located in West Africa, highlighting the importance of maritime gateways and transport corridors to regional economic integration.
According to him, the Bakassi facility could help Nigeria expand its role as a transit and logistics hub for neighbouring economies.
President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), Dr George Elombi, also described the $3.5 billion project as a significant development for Nigeria, regional commerce and intra-African trade.
Elombi, represented by Afreximbank’s Executive Vice-President for Intra-African Trade and Export Development, Mrs Kanayo Awani, said the port had the potential to strengthen Nigeria’s maritime corridors, expand cargo-handling capacity and facilitate trade with countries in West and Central Africa.
He linked the project’s significance to wider efforts to deepen continental economic integration under the African Continental Free Trade Area framework.
Meanwhile, Vice President Kashim Shettima has urged subnational governments across Africa to identify and develop their competitive advantages, attract private investment and transform local economic opportunities into sustainable growth.
Shettima made the call in Calabar on Friday during the sixth African Sub-Sovereign Governments Network (AfSNET) Investment Conference 2026, held under the theme, “The Role of Sub-Sovereigns in Catalysing Development through Trade and Investment.”
He emphasised that national development strategies could only produce meaningful results when translated into investments, infrastructure and employment opportunities at the state and local government levels.
“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,” he said.
“National policies and continental frameworks provide direction, but their success depends significantly on what happens at the sub-national level.”
The Vice President argued that states and regions should be regarded not merely as administrative divisions but as economic actors, investment destinations, production centres and gateways to regional and continental markets.
He stressed the need for subnational administrations to develop credible, investment-ready projects and establish partnerships capable of attracting private capital.
“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,” Shettima added.
The Bakassi Deep Seaport groundbreaking marks the formal commencement of a project that federal and state authorities believe could diversify Nigeria’s maritime infrastructure, improve regional trade access and stimulate investment in Cross River State.
However, the projected economic benefits will depend on the project’s successful construction, financing, supporting transport infrastructure and eventual commercial operations.
Deji Elumoye
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