The Cross River State government Thursday, signed a construction agreement for preliminary works at the Bakassi deep seaport with China Harbour Company, THISDAY reports.
The Bakassi Deep Seaport project which is one of the signature projects of Governor Ben Ayade is expected to serve the North-eastern part of the country as well as Chad Republic and Niger. China Harbour is a state owned company in China with strong expertise in construction and drainage.
Speaking at the contract signing ceremony at the executive council chamber of the Governor’s Office in Calabar, Governor Ben Ayade regretted the ceding of Bakassi Peninsula, loss of 76 oil wells as well as the delisting of Cross River from the 13 per cent derivation fund.
According to him, his administration had since been in desperate need of creating an alternative source of income for the state in spite of the set back, adding that “the Bakassi Deep Seaport is strategic for security and economic reasons.” To this end, he said “the Bakassi Deep Seaport will create a new narrative in merchandise and international trade.”