$3bn Agge Deep Seaport | Business Post Nigeria

By Adedapo Adesanya The Bayelsa State government is looking for investors who can invest in the proposed $3 billion deep seaport project in the Agge area of the state. Governor of the state, Mr Duoye Diri, during a visit to the headquarters of the Nigerian Maritime Administration and Safety Agency (NIMASA) in Lagos, stated that the state was currently collaborating with relevant federal agencies to see the port project to fruition. He disclosed that some interested investors were already in talks with the government, adding that he plans to escalate the discussions with a view to ensuring that more investors are brought on board. The Governor also said that discussions were ongoing until the coronavirus pandemic necessitated a lockdown and halted progress, adding that he hopes to resume talks with interested investors over the proposed port. According to Mr Diri, the project will not only be done by the government but will be a Private Public Partnership (PPP) that will benefit all parties. He said: “Bayelsa State is already in discussion with some private investors as we are also working with other relevant Federal government such as the Nigerian Maritime Administration and Safety Agency (NIMASA), and the Nigerian Ports Authority (NPA). “So, the entire funding will not come from the coffers of the Bayelsa Government, it is going to be Private Public Partnership. We already have people that are indicating interest. “As I said earlier, the wealth of this country is in the maritime domain and the earlier we identify that and know that the institution that the Federal government has in ensuring that the wealth of the nation is actually gotten for this country through the NIMASA. “And if NIMASA plays its role, synergises with the coastal states like Bayelsa, I am that Nigeria will have an alternative source of revenue other than oil and gas.” Mr Diri also said that the state was also interested in partnering with NIMASA in the area of maritime security so as to create some level of peace on the waterways within the state. Earlier in his remarks, NIMASA’s Director-General, Mr Bashir Jamoh, said that the project can only work through a PPP proposal, adding that the government of Bayelsa State must also have some level of equity participation. Mr Jamoh also said the $3 billion will come from different avenues including from the state government. The plan for the deep seaport had been in place since far back as 2012 in line with the government ambitious plan for infrastructural development in order to attract Foreign Direct Investment (FDI) to the state. The former governor of the state, Mr Seriake Dickson, had in 2017 said the seaport would be ready before the end of his tenure in February 2020.

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