Nigeria: FG sets aside N1b for the development of Ibaka Deep Sea Port Project in Akwa Ibom
(Ecofin Agency) - The Acting President of Nigeria, Yemi Osinbajo (photo), has disclosed that a sum of N1billion ($3.2million) has been set aside in the 2017 budget for the development of the Ibaka deep-sea Port Project in Akwa Ibom State.
According to him, the Federal Government is extremely committed to the realization of the project as it is significant to the growth of Nigeria and the economy. “Indeed, as a matter of fact, in the 2017 budget, there is already a provision for the Ibaka port. It is a matter we take seriously to partner with the Akwa Ibom State government,” he said.
Let’s recall that the Sea Port project which was brought up over eight years ago has been delayed multiple times over the years. Indeed in March 2016, the Akwa Ibom State government announced that it had concluded plans to deliver the long awaited project not later than 2019, while it was earlier scheduled to be delivered in 2015.