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Ibaka/Ibom seaport will advance Nigeria, reduce Lagos shipping rates – Ekekwe


Ibaka/Ibom seaport will advance Nigeria, reduce Lagos shipping rates – Ekekwe

Professor Ndubuisi Ekekwe has called for a common seaport to be jointly owned by the governments of Abia and Akwa Ibom States.

The co-chair of the Abia Economic Transformation Transition Council, constituted by Governor-elect Alex Otti, said many components of market systems fade without seaports.

“Nigeria needs to have more of those critical infrastructures to advance shared prosperity. Ibom/Ibaka deep seaport is a MUST now. It’s about time,” Ekekwe tweeted at the weekend.

The entrepreneur said with the seaport and a rail track linking the popular Aba, it would be easier to move cargo from Ibaka/Ibom to Enyimba.

He noted that Ibaka/Ibom deep seaport in Akwa Ibom would be “a great promise for Nigeria”, as the government would generate more revenue, among other benefits.

Ekekwe said since Akwa Ibom may not have the capacity to build the seaport alone, the state and Abia can come together to execute the playbook.

“If they do, the broad North East, Niger Delta and South Eastern corridors of Nigeria will see the cost of shipping drop by at least 27% compared to using Lagos seaports.”

Ekekwe cited New York and New Jersey in the United States of America running a common port authority, urging Akwa Ibom and Abia to do the same.

“In the hundreds of suggestions we received for the transformation of Abia, a seaport was a top-five infrastructure,” he disclosed.

The 47-year-old founder of First Atlantic Semiconductors & Microelectronics worked for Analog Devices Corp where he co-designed an accelerometer for the iPhone.

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