The Minister of Transport, Sen. Idris Umar, said on Tuesday the Federal Government was partnering Akwa Ibom Government and private investors to develop Ibaka Deep Sea Port to accommodate high volume of cargoes.
The minister stated this at the inauguration of the Project Development and Steering Committee of the port on Tuesday in Abuja.
Umar said the Ibaka port would be developed under Public Private Partnership (PPP) to accommodate cargoes generated through international maritime trade.
He said the port’s location, which is an integral part of Ibom Industrial City and an important milestone in the development of Akwa Ibom, offered investors unparalleled opportunities for maritime and oil and gas related productions.
According to him, the site will also accommodate dry docking facilities for super tanker vessels and offer low cost access to off shore Oil/Gas Fields.
“Mr President attaches great importance to this project which is indeed part of the Transformation Agenda. We are committed to the completion of the project by the year 2015,” he added.
Umar said President Goodluck Jonathan convened a Maritime Sector Retreat on July 3 to articulate concrete Action Plans to harness the potential of the maritime sector for sustainable national economic development.
“We are taking an important step in the actualisation of one of the key outcomes of that presidential initiative,” the minister said.
He said the sector was central to the nation’s economy as a veritable medium of transportation, global commerce, resource exploitation and recreation.