Promoters of Nigeria’s first ocean terminal on an artificial island off the Atlantic coast of Ibeno Local Government Area of Akwa Ibom State have appealed to the Federal Government to hasten the approval of the project, given its viability and strategic importance.
Designed to handle oversized cargo, giant size rigs and large/super tanker vessels for the Gulf of Guinea, support deepwater oil and gas field operations, the port project is being developed through public private partnership, the feasibility work on the project has since been completed and forwarded to the Federal Government.
Victor Akpanika, managing director, Port Notel limited, promoter of the project who made this known in an interview, said the strategic position of the project would be an asset to the country.
“Its strategic positioning is an asset to Nigeria as a cost effective and efficient international bunkering port, ship repair/maintenance/metal scrap yard, gateway for project, general and bulk cargo for West and Central Africa,’’ Akpanika said.
According to Akpanika, the project is envisioned as a mega regional hub, multipurpose industrial Greenfield deep-sea port infrastructure with a minimum draught of 17 meters to service all types and sizes of vessels and a backbone platform for the different maritime markets. He said funding for the project initially set to gulp $2.56 billion had not been an issue of contention.
“We have willing investors ready to commit to the project and what we need is the federal government’s approval for the project to commence, there is an appetite for the project since it is private sector driven,’’ he said.
Akpanika, who said the project was conceived 10 years ago and had been enjoying tremendous goodwill and wide support from local and foreign stakeholders, including establishment of strategic partnerships, technical assistance and guidance from the various governmental agencies and regulatory authorities, said a “deep-sea port infrastructure with a minimum draught of 17 meters would be the first of its kind in the sub-Saharan region.”
He said the promoters have so far performed preliminary technical investigation and the engineering design, by foreign port consultants based in Netherlands, submitted the technical reports to relevant regulatory agencies to provide assistance and guidance on how to move “this very economically viable and laudable project forward.”
Describing the project as Africa’s premier regional port hub expected to deliver efficient, cost effective, safe and secure port services to the global maritime community, he said it would unlock Nigeria’s maritime domain value, through a Public-Private-Partnership arrangement in a sustainable manner.
“As a collaborative private initiative, the promoters have successfully performed pre-construction documentation activities, submitted the technical reports for review by the regulatory authorities,’’ he said.
According to him this will ensure that the project meets federal, State and local objectives in alignment and harmony with the static and dynamic capacity potentials of available maritime market space. Our local and foreign financial/technical development partners and other stakeholders are waiting for outcome of the review and guidance to move forward,’’ he said.
