FG has secured financial partner from EDIB Hong Kong to develop $27.29bn Escravos Seaport Industrial Complex.

2: This project located in Escravos (Gbaramatu Island/ Omadino.

3: FG not Tinubu must provide a written confirmation of the Free Trade Zone. 99years concession. Build, own, operate and Transfer.

4: Delta state to provide 31,000hectares of land.

5: Provision of rail line

6: EISC deep sea port will be able to service all inland ports along River Niger.

The Federal Government under the leadership of President Bola Ahmed Tinubu got a boost to the Marine and Blue economy initiative as the EDIB International Limited of Hong Kong has expressed its willingness to provide finance for development of the $27.29billion Escravos Seaport Industrial Complex (ESIC) project.

The project located in Escravos (Gbaramatu Island/Omadino) Warri South-West Local Government Area of Delta State is a development project to be implemented through a Joint Venture Partnership (JVP) with a Nigeria firm Mercury Maritime Concession Company Limited (MMCC).



According to Chief Kwame Springer, Chairman of EDIB International Ltd through their consultancy Blue Dot Wealth Limited headed by Mr Alexander Takpi-Young a Director of BDW dated 15.01.2024, EDIB International Limited is seeking government security over EDIB International Limited’s $27.29 billion funding of the ESIC project.

EDIB International Limited is requesting that the Federal Government of Nigeria (FGN) and the Local Government provide written confirmation of the Free Trade Zone (FTZ) in the country to provide security and confirmation of the project to be financed by EDIB International Ltd
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The security sought after is as a result of the fifty (50) years concession deal to Build, Own, Operate and Transfer (BOOT) the ESIC deep seaport project. On the part of the Federal Government of Nigeria, they will ensure that the financier’s $27.29 billion investment is returned with profit. The concession deal term is to be increased to (99) years for the ESIC project to secure funding from EDIB International Ltd.

It is instructive to note that under the ESIC project deal, the ownership of ESIC deep seaport sub–project of ESIC will revert to FGN at the expiration of the ninety-nine (99) years concession period to be granted to MMCC.

MMCC Rear Admiral Andrew Omaolo .S. Okoja (rtd), told the media that the decision by EDIB International to finance ESIC project is consequent upon the November 2020 provisional approval granted by the Federal Ministry of Transportation (FMT) to MMCC to develop the ESIC project and the reviewed FMT Confirmation Letter of August 2023 by the ministry.

“The decision was also consequent upon the May 2022 Delta State Government (DTSG) approval to lease 31,000 hectares of land located at Escravos to MMCC to host the entire ESIC project. ESIC project commenced in 2019 and aims to develop 31,000 hectares of project land in Delta State into a Deep Seaport, Crude oil refinery, Gas Complex, Free Trade Zone/Industrial Park, Independent Power Plant (IPP), Airport, Nature Conservation Park, etc.

“It is a development that promises to massively open up the seven (7) beneficiary States in Nigeria to Foreign Direct Investment (FDI) in the areas of trade, commerce and industry. ESIC will transform the economies of these States from a rural-driven economy with sprinklings of urban development to a metropolis driven economy of international dimension. ESIC Deep Seaport which is the backbone of ESIC project will serve as a gateway seaport with multi – modal transportation connectivity to hinterland destinations in Nigeria and beyond by marine, rail and road means of transportation: thus providing cargo flow multiplier to ESIC deep seaport to effectively serve more than seven (7) States of the Federation and the Federal Capital Territory (FCT) Abuja.”

Okoja stated further that as a gateway deep seaport, the ESIC deep seaport will be able to service all Inland ports along the River Niger when the River Niger Canal project in partnership with Suez Canal Authority (SCA) of Egypt comes on stream. “This canal/International marine highway project is a 600 Kilometres ESIC seaport to Baro in Niger State; a project which will open – up the canal to a depth of 10 meters to enable it to take vessels up to 100,000 metric ton.”

The Chairman MMCC added that the seven (7) direct ESIC project beneficiary states plus Abuja (namely: Delta, Edo, Bayelsa, Imo, Anambra, Kogi and Niger States) by their contiguous location in and along the road, rail and marine transportation corridor of ESIC project will be admitted as equity partners of ESIC project and thus have the right of use of ESIC project capacity.

TimeManager:
Will Delta Government be able to fulfil its own end of the bargain. Hopefully, the project is not dragged into a intra political mess, Ijaws seem to be the biggest gainers, will itshekiris, Urhobos, and others support this project?. We watch.

-kiss the truth!

Mynd44:


With "Deep Seaport, Crude oil refinery, Gas Complex, Free Trade Zone/Industrial Park, Independent Power Plant (IPP), Airport, Nature Conservation Park, etc."

Theu better fulfil it. This will catapult the economy of the state and the entire region

to be implemented through a Joint Venture Partnership (JVP) with a Nigeria firm Mercury Maritime Concession Company Limited (MMCC).

CapitalBank:


I want to understand something, will the seaport be for crude oil or all kind of commodities like what Lagos sea port has?

The Chairman MMCC added that the seven (7) direct ESIC project beneficiary states plus Abuja (namely: Delta, Edo, Bayelsa, Imo, Anambra, Kogi and Niger States) by their contiguous location in and along the road, rail and marine transportation corridor of ESIC project will be admitted as equity partners of ESIC project and thus have the right of use of ESIC project capacity.

AnonPoet:


EIDB International agrees to finance $27.29billion Escravos Seaport project

https://www.google.com/amp/s/www.vanguardngr.com/2024/01/eidb-international-agrees-to-finance-27-29billion-escravos-seaport-project/amp/

11th Sep, 2023
Tinubu Secures Investment ‘Worth Billions of Dollars’ with UAE, Visa Ban on Nigerians Lifted

Nigeria President Bola Ahmed Tinubu has finalised an agreement with the President of the United Arab Emirates, Mohamed bin Zayed Al Nahyan, which has led to the immediate lifting of the visa ban that was placed on Nigerian travellers by the UAE.

This was revealed in a statement released by the Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale. It was also revealed that due to this agreement, both Etihad Airlines and Emirates Airlines will immediately resume flight schedules into and out of Nigeria.

The statement read, “As negotiated between the two Heads of State, this immediate restoration of flight activity, through these two airlines and between the two countries, does not involve any immediate payment by the Nigerian government.

“In recognition of President Tinubu’s economic development diplomacy drive and proposals today presented by President Tinubu to his counterpart, an agreed framework has been established, which will involve several billions of US dollars worth of new investments into the Nigerian economy across multiple sectors, including defence, agriculture and others, by the investment arms of the Government of the United Arab Emirates.

“Additionally, President Tinubu is pleased to have successfully negotiated a joint, new foreign exchange liquidity programme between the two Governments, which will be announced in detail in the coming weeks.”

https://www.arise.tv/tinubu-secures-investment-worth-billions-of-dollars-with-uae-visa-ban-on-nigerians-lifted/#google_vignette

CapitalBank:


I want to understand something, will the seaport be for crude oil or all kind of commodities like what Lagos sea port has?

Biodun556:


All kind

BitterTruth0001:


All kinds .

That’s why the 7 states along the River Niger are partners

They seaports will service the states river ports along the route of River Niger


The Chairman MMCC added that the seven (7) direct ESIC project beneficiary states plus Abuja (namely: Delta, Edo, Bayelsa, Imo, Anambra, Kogi and Niger States) by their contiguous location in and along the road, rail and marine transportation corridor of ESIC project will be admitted as equity partners of ESIC project and thus have the right of use of ESIC project capacity.

Mynd44:


With "Deep Seaport, Crude oil refinery, Gas Complex, Free Trade Zone/Industrial Park, Independent Power Plant (IPP), Airport, Nature Conservation Park, etc."

Theu better fulfil it. This will catapult the economy of the state and the entire region

seguno2:


Should we clap now already? Or we should wait for the manifestation and impact before clapping, especially when the immediate things announced in UAE are not happening

MMCC Rear Admiral Andrew Omaolo .S. Okoja (rtd), told the media that the decision by EDIB International to finance ESIC project is consequent upon the November 2020 provisional approval granted by the Federal Ministry of Transportation (FMT) to MMCC to develop the ESIC project and the reviewed FMT Confirmation Letter of August 2023 by the ministry.

“The decision was also consequent upon the May 2022 Delta State Government (DTSG) approval to lease 31,000 hectares of land located at Escravos to MMCC to host the entire ESIC project. ESIC project commenced in 2019 and aims to develop 31,000 hectares of project land in Delta State into a Deep Seaport, Crude oil refinery, Gas Complex, Free Trade Zone/Industrial Park, Independent Power Plant (IPP), Airport, Nature Conservation Park, etc.

athaboi:
That reminds me...all those unfounded dey seaport in Niger state that buhari commissioned that year, what is going on there now?? Is a pity to be a Nigeria bcoz of her visionless leaders