FG urged to invest in Ibom deep seaport, eastern maritime corridor infrastructure

The Thematic Lead for Oil and Gas at the Nigeria Economic Summit Group (NESG), Kelvin Ayebaefie Emmanuel, has urged the federal and state governments to invest in the country’s eastern maritime corridor.

He highlighted the Ibom deep seaport as a transformative infrastructure that can benefit both the oil, gas, and non-oil sectors.

Emmanuel stated that the eastern maritime corridor encompasses several key ports, including Warri, Koko, Burutu, Onne, Port Harcourt and Calabar.

He also mentioned proposed developments such as the Ibom deep seaport and the Bakassi port.

Emmanuel, a member of the Presidential Committee on Fiscal Policy and Tax Reforms, explained that each port presents unique challenges and opportunities.

These range from siltation, requiring regular dredging, to the need for modern infrastructure to accommodate larger vessels.

At a stakeholders’ engagement, Emmanuel, in a paper, ‘The Port as Economic Pillar – Identifying Key Opportunities for Growth and Innovation’, described the proposed Ibom deep seaport as a game-changer for Nigeria’s maritime economy.

With a channel draft of 18 meters, the port will be able to accommodate Panamax vessels with drafts of 15 meters and above once completed.

Emmanuel highlighted the port’s minimal sedimentation and shore-to-sea distance of 16-20 kilometres, making it an ideal hub for both oil, gas and non-oil cargo.

Strategically located near ExxonMobil’s onshore operations in Eket, the port has the potential to support the piping of crude oil from terminals to ports for export and the transportation of associated gas feedstock to a Liquefied Natural Gas (LNG) processing terminal.

Emmanuel also emphasized the port’s potential to host terminals for containerised cargo, dry bulk, liquid bulk, oil and gas, shipbuilding and repair yards, Roll-On Roll-Off (RORO) services, break bulk, and a fishing terminal.

Furthermore, the port could serve as a maintenance hub for vessels that transship or call at a port, providing bunkering facilities to increase Nigeria’s share of global maritime traffic.
Integrating cold storage facilities and trawler docking areas into the port’s design is crucial to boosting Nigeria’s fisheries value chain.

According to Emmanuel, four companies in Nigeria currently generate a combined revenue of $500 million annually from fisheries.

Located just 45 kilometres from Malabo, the Ibom Deep Sea Port, according to Emmanuel, could facilitate the shipment of butane gas while also allowing off-takers to import butane for blending with propane, which is primarily produced from Nigeria’s light-grade crude oil.

Emmanuel further highlighted the impact of geopolitical tensions, such as those involving Houthi rebels in the Red Sea, on shipping premiums through the Suez Canal to Western Europe and North America.

Consequently, alternative routes, such as the additional 10-day journey via the Cape of Good Hope, have become increasingly appealing.

He argued that the Ibom port’s strategic location positions it as a crucial stopover for vessels navigating these longer routes.

On the other hand, Emmanuel underscored the challenge posed by siltation at ports like Calabar and Warri, which significantly hinders their operational efficiency.

He emphasized the urgent need for regular dredging to maintain minimum depths of 7.5 meters for vessel access.

Furthermore, he advocated for the reopening of long-existing tributaries currently covered in silt, which would enable smaller vessels and barges to transport goods inland.

This, he argued, would not only boost trade with landlocked regions but also support Nigeria’s export drive.

To fully capitalise on the potential of the eastern maritime corridor, Emmanuel urged the Federal Executive Council (FEC) to approve immediate funding for the Nigeria Inland Waterways Authority (NIWA).

He emphasised that capital and maintenance dredging of rivers and tributaries are essential for restoring navigability and facilitating inland goods transportation.