Nigeria has taken a major step towards expanding its maritime infrastructure with the groundbreaking of the $3.5 billion Bakassi Deep Seaport in Cross River State. President Bola Ahmed Tinubu, represented by Vice-President Kashim Shettima, performed the ceremony on November 13, 2026, describing the project as a strategic national investment capable of strengthening trade, stimulating industrialisation and positioning the country as a significant player in the Gulf of Guinea’s maritime economy. According to reports by BusinessDay and TheCable, the development is being pursued through a public-private partnership, with financing support from the African Export-Import Bank, Afreximbank. The project revives a proposal first advanced in 2014, following years of institutional, financial and regulatory processes.
Designed with a 20-metre draft to accommodate large vessels, the proposed port is expected to provide an alternative maritime gateway for businesses in Nigeria’s eastern and northern regions while attracting cargo currently routed through neighbouring countries. It is also planned alongside a dedicated superhighway to improve cargo evacuation and connect the port with inland commercial centres. Managing Director of the Nigerian Ports Authority, Abubakar Dantsoho, said the facility could strengthen trade links with landlocked countries including Chad, Niger, Mali and Burkina Faso, expanding Nigeria’s reach into wider West and Central African markets. The port is also expected to create opportunities across shipping, logistics, manufacturing, agriculture, fishing and related services, although these benefits will depend on construction, supporting infrastructure and eventual commercial operations.
The project also forms part of a broader effort to reduce the concentration of Nigeria’s maritime activity around Lagos and develop a more distributed port network. At the ceremony, Tinubu argued that the Bakassi facility would complement existing ports rather than compete with Lagos, noting the pressure created by the concentration of foreign trade through the country’s western maritime gateway. Cross River State Governor Bassey Otu described the groundbreaking as a milestone in the state’s economic development, while Afreximbank’s involvement signals the importance of regional development finance in delivering large-scale infrastructure. With its proposed deep-water capacity, road connections and access to the Gulf of Guinea, Bakassi could become an important component of Nigeria’s blue economy ambitions. Its long-term impact, however, will be measured by the delivery of the project, the strength of its commercial operations and its ability to attract sustained cargo volumes and private investment.
