Prospects for the take-off of Ibom Deep Sea Port

This article considers the prospect for the take-off of construction work on the Ibom Deep Seaport project in Akwa Ibom State. The deep seaport project has been on the drawing board since 1999, a quarter of a century ago, when it was conceived by the Governor Obong Victor Attah Administration. A great deal of efforts has been made by successive governments in Akwa Ibom State to realise the project, not least the near frenetic efforts of the current administration led by Governor Umo Eno.

When eventually implemented and delivered, the Ibom Deep Seaport is expected to significantly add to Nigeria’s maritime infrastructure and open up the Gulf of Guinea and Central Africa to subregional and international maritime trade with Nigeria as the hub. The seaport is a big ticket US$4.2 billion investment proposition, occupying a land space of 2,566 hectares of land (about 4000 standard football pitches), with provision for additional 1,565 hectares for future expansion. It is located within the proposed Ibom Industrial City (IIC).

The technical details of Ibom Deep Seaport include the following:

• Designed to be a major West/Central Africa transshipment hub• Over 18 metres deep, 20 kilometres (km) long, 450 meters-wide, two-lane approach channel, • Over 16 metres berth depth • 7.5 km quay length • Specialised terminals for container, dry bulk, and liquid cargo, including crude oil and liquefied national gas (LNG) • Planned connectivity to road/rail networks • Located in Ibom Industrial City • Designed for post-Panamax (large) vessels of a minimum capacity of 80,000 DWT (Deadweight Tonnage) – a measure of how much weight a ship can carry.

Below are the milestones achieved so far by the deep seaport project:

• Necessary regulatory approvals for development have been secured, including the Outline Business Case (OBC) approval by the Federal Executive Council in May 2025 • The project’s Full Business Case (FBC) provides for a 50-year concession agreement for a public-private-partnership mode of infrastructure procurement, with Bolloré Africa Logistics–PowerChina International Group Limited Consortium approved as preferred bidder • Comprehensive feasibility studies, including geotechnical and geophysical assessments, have been completed. • The Front End Engineering Design (FEED), a major phase in elaborate engineering projects is ongoing and upcoming • On the whole, feasibility studies and design work are expected to be concluded in 2025 with the potential flag-off of construction work sometime in 2026, focusing on dredging, breakwater and terminal construction in the first phase.

While statutory regulatory approvals are being provided by federal government agencies including the Nigerian Ports Authority (NPA) and the Infrastructure Concession Regulatory Commission (ICRC), Federal Government sovereign guarantee is crucial and has been sought for, as a public-private-partnership project requiring large scale lending support from international financial institutions. The securing the required financing for the project is the last major hurdle for the project. Even as the project has relatively bright prospects for securing the necessary financing required, it must be noted that this is the largest project embarked upon so far by a subnational in Nigeria, costing a hefty estimated sum of US$4.2 billion, almost three times the cost of Lekki Deep Seaport, which was $1.5 billion. The key difference between the Lekki Deep Seaport and the Ibom Deep Seaport, apart, from the budget sum, is that the former is primarily a private sector proposition, led by the Tolaram Group, a major Singaporean business concern, along with their consortium partners, China Harbour Engineering Company Limited (CHECH), both of who are majority equity owners in the project, along with Lagos State Government and the Federal Government through the Nigerian Port Authority. So, financing was not such a great challenge for the Lekki Deep Seaport.

The story is quite different for Ibom Deep Seaport being largely a public sector project initiated by a subnational, admittedly one of the richest subnationals in Nigeria. For the financing campaign to gain more traction, the project needs to be promoted in the eyes of the international financial community as more of a major national infrastructural project, rather than a subnational project, with visible support through public pronouncements from the President and the Presidency and leading ministers heading major economic line ministries like Finance, Budget and National Planning and Trade and Investment; and the Central Bank of Nigeria Governor. An Investment Road Show can also be organised in major financial capitals of the world, culminating in an International investors Forum on Ibom Deep Seaport to be hosted by the Akwa Ibom Government with visible support of the Federal Government in London.

The effort of Governor Umo Eno in mobilizing support for the seaport project at the federal level has been commendable indeed. On January 10, 2024, Governor Eno paid a visit to President Bola Ahmed Tinubu in Abuja to canvass for the President’s support for three major projects in Akwa Ibom, principal among which was Ibom Deep Seaport. On March 2, 2025, he led a 104-man delegation comprising the Senate President Godswill Akpabio, a former governor of Akwa Ibom State, community and religious leaders, and former ministers and lawmakers from Akwa Ibom State. At that meeting Governor Eno, after stating that it was impossible for a subnational to single-handledly embark on a deep seaport project without the support of the federal government, made a strong case for the Ibom Deep Seaport, stating thus: “The realisation of [the Ibom Deep Seaport] project will be an economic game changer not only for our state, but also for the South-South, South-East and indeed the nation at large.” President Tinubu’s response: “I will not let you down.” At the end of the visit, the president was conferred with the highest traditional honour of Akwa ibom State, “Otu Ekong” – Commander-in-Chief of Akwa Ibom.

Furthermore on June 19, 2024, Senate President Godswill Akpabio joined Governor Eno to drum up support for the seaport project in a critical Akwa Ibom Stakeholders meeting in Uyo. The following day, on June 20, 2024, both political leaders along with the Minister of Marine and Blue Economy, Adegboyega Oyetola, visited the sight of the Ibom Deep Seaport project, with the minister inspecting progress made and confirming the federal government supporting the project to quick realisation. Just last week in a meeting with All Progressive Congress (APC) stakeholders Gov¬ernor Umo Eno reaf-firmed that the long-awaited seaport project has moved close to realisation and was expected to be one of Nigeria’s most strategic maritime assets.

The passion with which Governor Umo Eno has pursued the realisation of the Ibom Deep Seaport reminds one of the remarkable, consistent and unyielding sense of purpose and mission with which President Taye Atske Selassie of Ethiopia pursued the completion and commissioning of the Grand Ethiopian Renaissance Dam (GERD) on September 9, 2025, a 5,150 megawatt (MW) hydropower dam, the largest in Africa. We have seen similar passion and singleminded sense of purpose in delivering major national infrastructural projects in Tanzania and Namibia, to mention a few African countries. It is hoped that this commendable spirit by Governor Umo Eno will translate into the delivery of the Ibom Deep Seaport in a reasonable number of years from now.

• Mr. Igbinoba is Team Lead/CEOs at ProServe Options Consulting, Lagos

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