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Home Economy

FG, Bayelsa partner on $3bn agge deep seaport development

by Online Editor
February 6, 2025
in Economy
Reading Time: 1 min read
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FG,  Bayelsa partner on $3bn agge deep seaport development
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By Faridat Salifu

The Federal Ministry of Marine and Blue Economy and Bayelsa State government have crafted a partnership on the development of the Agge Deep Seaport in Ekeremor Local Government Area.

The $3 billion project, a public-private partnership (PPP) initiative, aims to enhance Nigeria’s maritime infrastructure and reduce congestion at existing ports.

Once completed, the Agge seaport will drive job creation, boost socioeconomic activities in the region, and position Bayelsa as a major transport hub for the northern and southeastern parts of Nigeria.

The Minister Marine and Blue Economy, Adegboyega Oyetola, highlighted the project as part of broader efforts to improve port infrastructure, alongside ongoing developments at other locations, including the Badagry, Ondo, Ibom, and Bonny seaports.

In October 2024, the Federal Government also launched the Gateway Inland Dry Port in Ogun State, further strengthening its commitment to the blue economy and increasing Nigeria’s maritime capabilities.

Oyetola emphasized the importance of inland ports and their role in the country’s future as a key player in the global maritime sector.

The Bayelsa State Government has actively engaged with the federal government to gain support for the Agge project.

The PPP approach is being explored to ensure the timely delivery of the seaport, reflecting the administration’s vision for infrastructure and economic growth in line with President Bola Tinubu’s Renewed Hope Agenda.

The development of the Agge Deep Seaport is expected to bring significant investments to Bayelsa, positioning the state as a vital player in the nation’s maritime economy.

Bayelsa is the first coastal state to establish a dedicated Ministry of Marine and Blue Economy, signaling its commitment to harnessing the potential of the blue economy.

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