EFIOK EKPE, Uyo

INVESTORS are gearing up to partner with Port Notel Limited  for the development of the  proposed multimillion naira artificial island port off the Atlantic coast in Ibeno local government area of Akwa Ibom State.

Promoted by Port Notel Ocean Terminal  limited, a wholly indigenous firm, it  is designed to be Africa’s premier offshore regional port with a minimum draught of 17 meters, on an artificial island aimed to develop the vast maritime potentials in the region and “ unlock Nigeria’s maritime domain value through a Public-Private-Partnership.”

Victor Akpanika, Managing Director and Chief Executive Officer of the company who made this known in a statement said most of the investors are from Europe, Middle East, Asia and United States adding that  “ international development funding partners, foreign institutional investors and Global Terminal Operators” are also seeking to partner with Port Notel for the port development.

Akpanika explained that  the project would be approached through phased development to reduce initial project cost, with ample flexibility for containers, steel products, dry bulk, Liquid Bulk (Including LNG) General Cargo, RoRo and Deep off Shore Logistics Support base amongst others, pointing out the preliminary technical feasibility studies and market investigation reports that started in May 2014  has been completed.

He disclosed that, a corporate – commercial law firm, has been commissioned to undertake detailed legal and regulatory audit of the project with a view to uncovering all applicable laws and authorisations required for “speedy commencement of technical field and site development activities.”

He  did not however say when the construction of the project is expected to begin and the total capital outlay for the artificial island port terminal.

Source: http://www.thesouthernexaminer.com/2017/12/13/investors-eye-multi-million-naira-port-development-project-in-aibom/

I don't take these guys serious yet. Its cool thought though.

I have noticed that major functional infrastructure projects in the better south (SS/SE) are unusually funded by private firms or state governments.

Akanu Ibiam Airport Enugu
Omoku Power Station Rivers
Asaba Airport Delta
....

If only we can implement full resource control or ensure that the SS/SE have a sharing ratio 95:5, with 95% going to the states while 5% goes to the center.

Well....