Cross River Governor, Senator Bassey Otu, has emphasized the need for Public-Private Partnership (PPP) investment to address Nigeria’s infrastructure deficit, citing the ongoing $3.5 billion Bakassi Deep Seaport development.
Otu called for PPP intervention while speaking as one of the panelists at the 2025 Nigeria Public-Private Partnership Summit in Abuja, according to a statement shared with Naijaonpoint by the Infrastructure Concession Regulatory Commission(ICRC)
He maintained that the $3.5 billion Bakassi Deep Seaport development remains key to easing the pressure on existing ports across Nigeria.
Governor Otu highlighted the vast potential of Public-Private Partnerships (PPPs) in addressing Nigeria’s infrastructure deficit.
“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,” he stated.
“On the Ondo Seaport, the Governor said the $1.3 billion multipurpose project would transform the state’s economy, create thousands of jobs, and attract investments, while also serving as a catalyst for industrialization and economic growth in the region,” the statement partly reads.
He also noted the need for a few technical amendments between the ICRC and the Ministry of Marine and Blue Economy, highlighting that every state needs more than one port to address congestion, citing Lagos State, which has Apapa, Tin Can, and Lekki Deep Sea Ports.
The DG of the ICRC, Dr. Jobson Ewalefoh, recently stated that Nigeria urgently needs Public-Private Partnerships (PPPs) involving both local and foreign investors to address the nation’s $2.3 trillion infrastructure gap.
He made this observation on Tuesday at the Nigeria Public-Private Partnership (PPP) Summit 2025, organized by the ICRC.
The summit, themed “Unlocking Nigeria’s Potential: The Role of Public-Private Partnerships in Delivering the Renewed Hope Agenda,” was attended by several Federal Ministers, officials from Afreximbank, the African Development Bank (AfDB), the Regional Director of the International Finance Corporation (IFC), among others.
Naijaonpoint previously reported that the ICRC had, in September 2024, confirmed that construction of the $3.5 billion Bakassi Deep Seaport would begin in the near future, signaling a significant advancement for Nigeria’s maritime and economic infrastructure.