{"id":66044,"date":"2019-04-07T17:36:36","date_gmt":"2019-04-07T16:36:36","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=66044"},"modified":"2019-04-07T17:36:36","modified_gmt":"2019-04-07T16:36:36","slug":"ayade-receives-outline-business-case-on-bakassi-deep-seaport","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/ayade-receives-outline-business-case-on-bakassi-deep-seaport\/","title":{"rendered":"Ayade receives Outline Business Case on Bakassi Deep Seaport"},"content":{"rendered":"
\"\"

Cross River State Governor, Professor Ben Ayade (L), receiving the Bakassi Deep Seaport Outline Business Case (OBC) from the Transaction Advisor\/ Managing Partner and Chief Executive Officer of\u00a0 Feedback Infrastructure Services, Dr. Onuoha Nnachi (R), during a presentation in government house calabar. Friday.<\/p><\/div>\n

\"\"

Cross River State Governor, Professor Ben Ayade (L), receiving the Bakassi Deep Seaport Outline Business Case (OBC) from the Transaction Advisor\/ Managing Partner and Chief Executive Officer of\u00a0 Feedback Infrastructure Services, Dr. Onuoha Nnachi (R), during a presentation in government house calabar. Friday.<\/p><\/div>\n

… commends Buhari<\/p>\n

The Bakassi Deep Seaport Project received a further boost Friday, with
\nthe submission of the Outline Business Case (OBC) by the Federal
\nGovernment appointed transaction adviser, Feedback Infrastructure
\nLimited to the Cross River State governor, Prof. Ben Ayade.
\nMaking the presentation to Governor Ayade at the executive council
\nchamber, Government House, Calabar, Managing Director, Feedback
\nInfrastructure Limited, Engr. Nnachi Onuoha said the exercise of
\nproducing the OBC was quite demanding, just as he added that the outcome
\nwas thorough.
\nAccording to Onuoha, \u201cNigeria is a country with about 200 million people
\nand still counting. We only have one trade port in Nigeria which is the
\nApapa port? So, the Bakassi Deep Seaport will be the second trade port
\nin the country because every other port are oil terminals.\u201d
\nContinuing he said: \u201cIf you recall when we had the first meeting here,
\nwe were talking about a 12-meter port, then to 15-meter port in terms of
\ndraft but after the necessary studies including geophysical and
\ntechnical studies, we realized that we had no option than to achieve a
\ntransnational shipment by doing a 20 meter port. And this seaport will
\nbe the deepest seaport in Africa upon completion.\u201d
\nHe said working on the Outline Business Case \u201cwas demanding but we did a
\nvery detailed and thorough work that can be compared with any other OBC
\nglobally. Available records show that average time for an OBC was for
\nfive years but we are proud to say that within 18 months, Bakassi Deep
\nSeaport OBC is ready. Today, we have something we can take to the market
\nand investors will be falling on us to invest.\u201d
\nOn the overall benefits of the Bakassi Deep Seaport to the country, the
\nlead consultant opined: \u201cThe entire South-East states are land locked
\nand we need an opening point to these places, we have no other option
\nthan to galvanize the big pockets and the high networth individuals to
\nconverge here to see to the realization of the seaport because it is a
\nviable economic project.\u201d
\n> In his response, Governor Ayade thanked President Muhammadu Buhari for
\nhis support for the project which he demonstrated by flagging off its
\nconstruction alongside the 275 kilometers superhighway.
\n> He also expressed gratitude to the Federal Ministry of Transport and
\nother agencies of government, that have so far granted about twelve
\napprovals for the project.
\nAccording to Ayade, the presentation of the OBC by the consultant,
\nincluding the receipts of 12 other approvals by relevant government
\nagencies, means that the actual construction of the port will soon
\ncommence.
\nThe governor stated that the emphasis placed on the selection of a
\ncompetent consultant for this job \u201cwas critical. The selection in line
\nwith international best practice and process was very transparent under
\nthe supervision of the Nigerian Ports Authority and the Federal Ministry
\nof Transportation.\u201d
\nOn the necessity for the Bakassi Deep Seaport, Ayade explained: \u201cThe
\nBakassi Deep Seaport comes to balance the distortion in our economic
\nequilibrium as a country because the North and South of Nigeria are so
\nblessed but the evacuation of resources from the North has been
\nchallenging. We have over 2,000 kilometers to take a product from its
\nsource to a port and that prohibitive cost makes it unattractive for
\ncommercial agriculture in the northern part of Nigeria.\u201d
\nContinuing he said: \u201cThe Bakassi Deep Seaport will be the only port in
\nNorthern Nigeria because the location is bringing Atlantic Ocean closer
\nto our brothers up north. Very strategic location with massive solid
\nminerals deposits, wonderful arable land with very good yield, yet our
\nindustrial production is at comatose, exploitation of solid minerals is
\nprostrate occasioned by the difficulty and cumbersome nature of
\nexportations.\u201d
\nOn why he has not channeled his resources to dredge the existing Calabar
\nPort, the governor disclosed that \u201cthe existing Calabar port is an
\ninland port which is 97 kilometers away from the open sea with a draft
\noscillating between four to ten meters and in some places two meters.
\n\u201cFor you to dredge 97 kilometers from two meters to 14.5 to allow for
\nbigger vessels, you definitely need the whole money on earth which is
\nbetween $200m and $300m just for dredging which must be done often,
\nthereby making it prohibitive in terms of capital and maintenance. So,
\nthe choice of taking the port close to the deep sea allows us the
\nflexibility of having a functional port which is located by the mouth of
\nthe great Qua River. So, by implication, we will have a deep seaport
\nthat will be constructed at the cost of a river port.\u201d
\nOn the commitment of the state to the project, Ayade said: \u201cWe have a
\ndeep vision and we are committed to this project. We want to remind the
\nfederal government that this will be the only port that has a dedicated
\nevacuation corridor, the 275 kilometer superhighway. The superhighway is
\nno longer a concept, not project plan, it is an ongoing project.\u201d
\nOn the funding of the project, the governor disclosed that in his many
\n\u201cinteractions with the consultant, I recall him saying and reassuring me
\nthat, once we are done with the OBC, the issue of funding this port will
\nnot be a challenge as we will have people falling over themselves
\nseeking to fund it because funding is the last problem for the seaport.
\nNow that the OBC has been submitted, and after due scrutiny by relevant
\nauthorities for final issuance of OBC, before the Full Business Case
\n(FBC) is given, we already have a core investor who is a core designer
\nwho has done the geophysical survey and provided the baseline data for
\nthe actual location of the port which is China Harbour.\u201d
\nContinuing, Ayade said: \u201cWe made a choice of China Harbour because they
\nare the number one deep seaport construction company in the world today.
\nThey did the design and a pre-feasibility study which has been forwarded
\nalongside a 3D footage,\u201d adding that \u201cIf you get to the site of the
\nsuperhighway, you will see the massive construction work going on day
\nand night.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

… commends Buhari The Bakassi Deep Seaport Project received a further boost Friday, with the submission of the Outline Business Case (OBC) by the Federal Government appointed transaction adviser, Feedback…<\/p>\n","protected":false},"author":1,"featured_media":66046,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-66044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nAyade receives Outline Business Case on Bakassi Deep Seaport - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/ayade-receives-outline-business-case-on-bakassi-deep-seaport\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ayade receives Outline Business Case on Bakassi Deep Seaport - 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