The House of Representatives has urged the Federal Ministry of Marine and Blue Economy, the Nigerian Ports Authority (NPA), the Nigerian Maritime Administration and Safety Agency (NIMASA) and other relevant agencies to work out modalities for the establishment of the Ibom Deep Seaport in Akwa Ibom state.
This followed the adoption of a motion sponsored by Hon. Unyime Idem and nine others at plenary yesterday.
Moving the motion, the lawmaker noted that the Nigerian Ports Authority (NPA) projected that the Ibom Deep Seaport could attract investments worth over 5.6 billion dollars; however, the project was stalled.
He said if the project is actualised, it will stimulate local economies, create employment, catalyse industrial growth, strengthen maritime value chains and facilitate the implementation of Export Processing Zone (EPZ) blueprints.
Idem stated that Nigeria’s vast coastline and Akwa Ibom State’s strategic location on the Atlantic Ocean offer immense potential for export-driven economic expansion through the establishment of the Ibom Deep Seaport.
“Regrettably, a 2020 Nigerian Economic Summit Group (NESG) report estimated that the Niger Delta lose about 1.2 billion dollars annually due to port inefficiencies.
“The blue economy currently contributes about 2% to Nigeria’s GDP, and with the President’s strategic proposal to raise this to between 5% and 10%, the realisation of the Ibom Deep Seaport would be a major driver in achieving this goal.
“Nigeria’s existing port capacity, estimated at 1.7 trillion TEUs, is overstretched, leading to congestion, shipment delays, and increased costs of doing business, which hampers export competitiveness and limits national economic growth.
“Worried that the revival of the African Continental Free Trade Area (AfCFTA) agreement, projected to boost intra-African trade from 18% to 52% by 2030 (according to UNECA), further underscores the need for expanded maritime infrastructure such as the Ibom Deep Seaport,” he added.
