By Wasilat Ahmad
The recently approved Ibom Deep Seaport by the federal government during the last Federal Executive Council (FEC) meeting in Abuja is estimated at $2billion.
The amount which would be provided by both the state government and private sector would be in 40 and 60 percent ratio, the latter paying higher.
This was disclosed by the Akwa Ibom State Commissioner for Economic Development and Ibom Deep Seaport, Mr Akan Okon, during a press conference on Sunday where he explained that the construction of the first phase of the seaport would cost a total of $2.016 billion.
The first phase of the project according to Okon is expected to generate at least 300,000 jobs, while 3,500 companies are expected to be in operation in the seaport by the end of 2023.
“60 percent of the funding will come from the core investors, Bollore ChinaPower Consortium who were the preferred bidder. They are already managing 23 ports in Africa alone while we believe that their experience and connection will attract business and more investors to the seaport.
“The advantage of the Ibom Deep Seaport is in its natural location. For instance the Lagos Port in terms of draft after dredging is just about 12 metres, so very large vessels can’t come there. They have to wait at the high sea and need smaller vessels to bring cargo to port but with Ibom Deep Seaport, big vessels can come in even without dredging.
“It has a draft of 18 metres without dredging and has a turning basin of 600 metres and designed for vessels that can carry 120,000 Dead Weight Tonnage and will have 10 terminals.
“So it can actually allow for another vessel to come in without waiting for the first vessel to be discharged. So it is actually wide. It can allow one big vessel to go in and another one to come in at the same time because 600 metres is the size of six football fields.
“It is also designed to be a trans shipping port. In other words, goods meant for neighbouring African countries can be transhipped from here using smaller vessels,” he explained.
The commissioner stated that the port with its ancillary industrial city meant for heavy and large industries sprawling across Mbo and Ibeno local government areas, would boost business, attract more cargo to the seaport, add to the port capacity of the country and reduce the number of days for clearing.
He maintained that despite the existence of other Seaports in the Niger Delta area, the natural depth of Ibom Deep Seaport would offer more benefits to businesses as it could serve as a clearing point for bigger vessels.
“It will also be an additional source of revenue to the Federal Government and the Akwa Ibom State government. The impact of the port will not just be felt in the host communities but in sorrounding communities outside the host local councils,” he said.
Okon noted that enough due diligence was undertaken before the approval to ensure success, adding that the state government had undertaken several engagements with members of host communities.
He maintained that nobody from the host communities would be displaced as the site of the IDSP is uninhibited.
