Ayade Seeks FG Govt’s Backing To Get $1.3bn Sovereign Guarantee For Projects

Cross River State Governor Ben Ayade has appealed to the Federal Government to secure a sovereign guarantee of $1.2 billion to cover the execution of two major projects by his administration.

The governor said the projects would be for the economic benefit of the state, Nigeria as well as West Africa.

The projects are the proposed Bakassi Deep Seaport and the proposed 276-kilometre Super Highway from the deep seaport to the Northeast.

Ayade spoke in Calabar, the state capital, when he hosted the Ad Hoc Committee of the National Assembly seeking to determine why the Eastern ports in Warri, Calabar, Port Harcourt, Onne, and Onitsha were not being put to maximum use.

The governor told the legislators, led by the committee’s Chairman Buba Yakub Yusuf (Adamawa APC), that “$1.2 billion is the budget for the two projects and all we need is a sovereign guarantee”.

He added: “China Harbour Engineering, a reputable company in port building, roads and other major infrastructure, is ready to build for us if there is a sovereign guarantee. Cross River knows nothing other than the Bakassi Deep Seaport.”

Ayade sought the understanding of the visiting lawmakers to include in their recommendations to the legislature as well as the Presidency the need to support Cross River State in executing the two projects.

The governor insisted that the projects would be beneficial to Nigerians and West coast of Africa.

“We have received 10 approvals from the Federal Ministry and the minister has signed the final ODC for the construction of the Bakassi Deep Seaport. More so, the Managing Director of Nigeria Port Authority (NPA) has already got Bakassi Port in a master plan.

“So, we expect the committee to seek a sovereign guarantee for Bakassi Port,” he said. Yusuf hailed Ayade for his vision and drive for the projects.

The lawmaker noted that the projects have the potential to turn around the state’s economy and beyond.

He said: “The committee will do everything it can to support and see that this great dream of the governor and the state is brought to fruition. This man has already put this dream to use, and it is practically on the ground as he has told us. In four years, Cross River is ready to go, to give Nigeria its first deep seaport.

“And as he has said, not only modern Nigeria but even the neighbouring countries; Chad, the Cameroons, the Niger will all benefit from this giant project.

“So, this committee is to investigate and find out why our Eastern seaports are not working. I am sure most of our recommendations will help ease and bring the giant project of the deep seaport in Cross River State to fruition.”