Cross River Governor, Senator Bassey Otu, has emphasised the necessity for Public-Personal Partnership (PPP) funding to deal with Nigeria’s infrastructure deficit, citing the continuing $3.5 billion Bakassi Deep Seaport growth.
Otu known as for PPP intervention whereas talking as one of many panelists on the 2025 Nigeria Public-Personal Partnership Summit in Abuja, in response to a press release shared with Nairametrics by the Infrastructure Concession Regulatory Fee(ICRC)
He maintained that the $3.5 billion Bakassi Deep Seaport growth stays key to easing the strain on current ports throughout Nigeria.
Governor Otu highlighted the huge potential of Public-Personal Partnerships (PPPs) in addressing Nigeria’s infrastructure deficit.
“The event of the Bakassi Deep Seaport is crucial to extend port capability within the nation and ease the strain on current ports.
“Many of the subnationals we’ve at this time are doing their best possible to key into completely different sectors, taking their complementary benefit into consideration,” he acknowledged.
“On the Ondo Seaport, the Governor mentioned the $1.3 billion multipurpose undertaking would remodel the state’s financial system, create hundreds of jobs, and appeal to investments, whereas additionally serving as a catalyst for industrialization and {economic} development within the area,” the assertion partly reads.
He additionally famous the necessity for a number of technical amendments between the ICRC and the Ministry of Marine and Blue Economic system, highlighting that each state wants multiple port to deal with congestion, citing Lagos State, which has Apapa, Tin Can, and Lekki Deep Sea Ports.
The DG of the ICRC, Dr. Jobson Ewalefoh, lately acknowledged that Nigeria urgently wants Public-Personal Partnerships (PPPs) involving each native and overseas buyers to deal with the nation’s $2.3 trillion infrastructure hole.
He made this commentary on Tuesday on the Nigeria Public-Personal Partnership (PPP) Summit 2025, organized by the ICRC.
The summit, themed “Unlocking Nigeria’s Potential: The Position of Public-Personal Partnerships in Delivering the Renewed Hope Agenda,” was attended by a number of Federal Ministers, officers from Afreximbank, the African Growth {Bank} (AfDB), the Regional Director of the Worldwide Finance Company (IFC), amongst others.
Nairametrics beforehand reported that the ICRC had, in September 2024, confirmed that development of the $3.5 billion Bakassi Deep Seaport would start within the close to future, signaling a big development for Nigeria’s maritime and {economic} infrastructure.
