Cross River State Governor, Senator Bassey Otu, has renewed calls for increased Public-Private Partnership (PPP) investments to tackle Nigeria’s infrastructure deficit—highlighting the $3.5 billion Bakassi Deep Seaport project as a prime opportunity for collaboration between the government and private sector.
Speaking as a panelist at the 2025 Nigeria Public-Private Partnership Summit in Abuja, Governor Otu highlighted the strategic importance of the Bakassi Deep Seaport in easing congestion at Nigeria’s existing ports and transforming the country into a trans-shipment hub for sub-Saharan Africa. His remarks were shared in a statement by the Infrastructure Concession Regulatory Commission (ICRC).
According to him, PPP models offer an essential pathway for delivering large-scale infrastructure: “Public-Private Partnerships can attract private sector investment, expertise, and efficiency to deliver critical infrastructure projects, drive economic growth, and improve the quality of life for Nigerians.”
Reiterating the importance of the Bakassi project, he added: “The development of the Bakassi Deep Seaport is imperative to increase port capacity in the country and ease the pressure on existing ports. Most of the subnationals we have today are doing their very best to key into different sectors, taking their complementary advantage into consideration.”
Also speaking at the summit, Ondo State Governor, Lucky Aiyedatiwa, stressed the transformative potential of PPPs across Nigeria’s economic landscape.
Referencing the state’s own $1.3 billion multipurpose seaport initiative, Governor Aiyedatiwa noted: “This project will transform the state’s economy, create thousands of jobs, attract investment, and serve as a catalyst for industrialization and economic growth in the region.”
He further argued that successful PPPs would broaden the state’s revenue base, enhance public services, and raise living standards. “My administration recognizes the potential of Public-Private Partnerships in driving growth and addressing development challenges, with a focus on enhancing public service delivery,” he said.
Governor Aiyedatiwa also highlighted the importance of technical alignment between federal agencies—namely the ICRC and the Ministry of Marine and Blue Economy—to streamline project execution. He emphasized the need for more ports in every coastal state, citing Lagos as an example with its multiple ports: Apapa, Tin Can, and Lekki Deep Sea Port.
In his remarks, ICRC Director General, Dr. Jobson Ewalefoh, echoed the urgent need for PPP-driven solutions to bridge Nigeria’s staggering $2.3 trillion infrastructure gap. Speaking at the summit themed “Unlocking Nigeria’s Potential: The Role of Public-Private Partnerships in Delivering the Renewed Hope Agenda,” he urged stronger collaboration between government, local entrepreneurs, and foreign investors.
The summit drew participation from federal ministers, representatives of Afreximbank, the African Development Bank (AfDB), the International Finance Corporation (IFC), and other key stakeholders.
In a key update, the ICRC confirmed in September 2024 that the $3.5 billion Bakassi Deep Seaport is on track for groundbreaking in the near term—marking a major milestone in Nigeria’s maritime development agenda.