By: Business day

The Ibom Deep Seaport project in Akwa Ibom State, Nigeria, represents a $4.2 billion strategic vision conceived 25 years ago and now edging closer to reality. The deep seaport is designed to become a major transshipment hub for West and Central Africa, featuring an 18-meter deep channel, 7.5 km of quay, and the capacity to handle the world’s largest post-Panamax vessels. Located within the planned Ibom Industrial City, it aims to transform Nigeria's maritime infrastructure and position the country as a regional trade gateway.

Significant regulatory and planning milestones have been achieved. The project received Federal Executive Council approval for its Outline Business Case in May 2025, completed comprehensive feasibility studies, and selected the Bolloré Africa Logistics–PowerChina consortium as the preferred bidder for a 50-year public-private partnership (PPP) concession. Front End Engineering Design (FEED) is underway, with a potential construction start in 2026, beginning with dredging and breakwater work.

The primary remaining hurdle is securing the massive required financing. Unlike the privately led $1.5 billion Lekki Deep Seaport, the Ibom project is largely a subnational public-sector initiative, requiring robust federal backing to attract international lenders. Governor Umo Eno has actively campaigned for this support, leading high-profile delegations to meet President Bola Tinubu and key ministers to reframe the port as a national priority. Tinubu has pledged his support, and recent inspections by federal officials have reinforced this commitment.

Governor Eno's determined advocacy has been compared to the drive behind other major African infrastructure projects, such as Ethiopia's Grand Ethiopian Renaissance Dam. With continued federal partnership and successful international investor outreach, the long-envisioned Ibom Deep Seaport could soon begin construction, marking a transformative step for Nigeria’s economy and regional maritime trade.