Nigeria Signs Off on Ibom Seaport Project

Nigeria Signs Off on Ibom Seaport Project

Nigeria’s Federal Executive Council has formally approved the ongoing development of the Ibom Deep Seaport & Free Trade Zone in Akwa Ibom State.

The country’s President Muhammadu Buhari granted approval for the development of the project, providing the port with the official status of a Free Trade Zone.

The project is monitored by the Ministerial Project Development and Steering Committee (MPDSC).

FEC approval paves the way for the upcoming Public-Private-Partnership (PPP) Concession tender by means of which international port investors and operators are identified and selected for the development.

The Ibom Deep Sea Port & Free Trade Zone is a Greenfield port and FTZ development in Akwa Ibom State in southeast Nigeria.

The port is projected to become a cargo gateway for the vast central and eastern Nigerian markets and beyond.

Felak Concept Limited (Abuja, Nigeria) and MTBS (Rotterdam, The Netherlands) are the transaction advisors for the project.

Share this article

Follow World Maritime News

In Depth>


<< Jun 2019 >>
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >