The scheme has been discussed for several years and a major update came just a few days ago.
The development is expected to reshape trade routes (Image: GETTY STOCK PHOTO)
A huge boost is coming to Africa after plans for a major new £2.5 billion port project were given the green light. The development is expected to reshape trade routes, attract billions in investment and create thousands of jobs for one of the continent’s biggest economies.
The scheme has been discussed for several years, but officials say it has now moved firmly into the delivery phase. The project is backed by international lenders and supported at the highest levels of government. The port is the Bakassi Deep Seaport, a multibillion-pound development in Cross River State, Nigeria.
The port is expected to cost around $3.5 billion (£2.5bn) to complete (Image: Bakassi Deep Seaport)
A major update came just a few days ago when the Federal Ministry of Marine and Blue Economy issued a Certificate of Compliance, confirming that the project has met all requirements to proceed.
Cross River State governor Bassey Otu said the approval was “a momentous and defining milestone” and showed the port had moved “from vision to verifiable reality”.
Nigeria remains one of Africa’s strongest economies. According to Statista, the country is the fourth richest in Africa in 2025, with a GDP of $188 billion (£140bn). Only South Africa, Egypt and Algeria rank higher.
Governor Otu said the government’s backing would send a clear message to investors.
He added that the Federal Executive Council had also approved the Bakassi Deep Seaport as one of three large-scale PPP projects (Public-Private Partnership).
The port has been described as 'a game-changer for Nigeria’s maritime and logistics ecosystem' (Image: Bakassi Deep Seaport)
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He said: “When the Federal Executive Council speaks with such clarity, it sends a powerful signal that this project is credible, bankable and irreversible.”
The port is expected to cost around $3.5 billion (£2.5bn) to complete.
Officials say the project is about far more than new shipping capacity.
The Governor said: “This project is not just about ships and cargo, but about jobs, industrialisation and positioning Nigeria competitively within global trade corridors.”
Much of the groundwork was laid in 2024, when the Infrastructure Concession Regulatory Commission (ICRC) announced that construction would begin soon.
ICRC Director-General Dr Jobson Oseodion Ewalefoh said at the time that the state government had shown the commitment needed to deliver the scheme.
The Federal Ministry of Marine and Blue Economy issued a Certificate of Compliance (Image: ICRC)
He added: “With the support of the Ministry of Marine and Blue Economy, Nigerian Ports Authority and all stakeholders, my good news for you is that we will do the ground breaking and complete the project.”
Speaking again at the most recent handover, Dr Ewalefoh described the port as “a game-changer for Nigeria’s maritime and logistics ecosystem”.
He said it would open a new maritime gateway for the North-Central and North-East regions and serve as a logistics hub for West and Central Africa.
Governor Otu also said the state is ready for the next stage. He added: “Today is historic. We have resolved that Cross River State will not only participate, but will lead.”
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