IBOM DEEP SEAPORT SEEK FUNDS FOR DEVELOPMENT IN NIGERIA

Promoter and the Nigeria government is seeking funds to develop the Ibom Deep Seaport which will drive inclusive economic growth in Nigeria and the West and Central African sub-region.

The promoters and the Nigeria government is currently seeking funds for the development of ibom deep seaport which will be located in akwa ibom state in the southern part of Nigeria within a licensed free trade zone.

The development which is expected to have a 2,565 hectares Greenfield port area is designed for the New Panamax Class vessels with channel (18.24m); turning basin and berth depth (16.72m) and quay length of about 7.5 kilometres.

According to the promoter, the seaport will offer international seaport developers, operators, investors as well as its potential for driving inclusive economic growth in Nigeria and the West and Central African sub-region.

In a statement by the promoter; “The Ibom Deep Seaport is in an enviable position to emerge as the first major transhipment hub for the region and the transshipment container market for the IDSP is estimated to grow from about 1.2 million TEUs in 2021 to about 4 million TEUs in 2040.”

The seaport construction is set to be another planned by the Nigeria government after the on-going construction of the deep seaport in the Ibeju-Lekki axis of Lagos State which will have a capacity to handle 2.5million TEUs in its first phase of operations.