Nigerian Lawmakers Advocate for Ibom Deep Seaport to Boost Economy and Maritime Sector

The House of Representatives in Nigeria is pushing for the development of the Ibom Deep Seaport in Akwa Ibom State to attract investments worth $5.6 billion. The project aims to stimulate the local economy, create jobs, and enhance the maritime value chain.

Reports suggest that inefficiencies in Nigerian ports cost the Niger Delta region $1.2 billion annually. Establishing the seaport is seen as crucial for achieving economic goals and improving export competitiveness, especially in the context of the African Continental Free Trade Area (AfCFTA) agreement.

The project aligns with efforts to expand maritime infrastructure and boost intra-African trade.