Tinubu flags off $3.5bn Bakassi Deep Seaport, pledges federal support
President Bola Tinubu on Friday flagged off the construction of the $3.5bn Bakassi Deep Seaport in Cross River State, describing the project as a major step towards diversifying Nigeria’s economy and expanding its maritime capacity.
Tinubu, who was represented by Vice President Kashim Shettima at the groundbreaking ceremony in Bakassi, said the project would position Cross River as a major hub for maritime trade and the blue economy.
He dismissed suggestions that the Federal Government or interests in Lagos and the South-West were opposed to the development of seaports outside Lagos, insisting that the project demonstrated his administration’s commitment to a decentralised maritime economy.
“There is a rumour I hear in some corners. That the West, Lagos, or Abuja never wanted a port to work anywhere outside Lagos. If that were true, would I be standing here today with a shovel in my hand?” he said.
“Lagos is our elder brother in trade. No country eats with one hand. No country carries all its load on one shoulder. That shoulder will break.”
The President said Nigeria’s reliance on Lagos for more than 80 per cent of its foreign trade had created congestion, delayed cargo movement and increased the cost of goods.
He explained that developing other ports would ease the pressure on Lagos and improve trade and economic activities across the country.
“This project is not against Lagos. It is for Nigeria. When Lagos is free, Nigeria breathes. When Calabar works, Nigeria walks on two legs,” he added.
