Tinubu Flags Off $3.5bn Bakassi Deep Seaport – A New Era for Nigeria’s Maritime Economy

President Bola Tinubu, in a historic move, has flagged off the construction of the Bakassi Deep Seaport in Cross River State, with promises to redefine Nigeria’s maritime economy and create job opportunities. According to multiple sources, Tinubu emphasized that the project is a significant step towards boosting maritime trade and modernizing Nigeria’s infrastructure.

As reported by several news outlets, including Nigeria Lagos, THISDAYLIVE, Business News Nigeria, Arise News, Vanguard News, Western Post, and Punch Newspapers, Tinubu highlighted the potential economic benefits of the port, stating that it would help to break a decades-long jinx in Nigeria’s maritime sector. However, the Nigerian National Petroleum Corporation (NNPC) has not yet disclosed when the facility began operating.

The Bakassi Deep Seaport, estimated to cost $3.5bn, is expected to expand maritime trade and contribute significantly to the country’s GDP. According to Vanguard News, Tinubu asserted that the project was not just about cutting a ribbon and dancing Ekpe Masquerade but about breaking ground and centuries-old jinxes. He pledged federal support to ensure the project’s successful completion.

The project’s significance lies in its potential to boost the country’s economy and create jobs. However, the exact timeline for the port’s completion remains unclear, and it is essential for the government to provide updates to reassure investors and the public.