The Federal Government of Nigeria has officially granted a 50-year concession to the Bollore Consortium to operate the Ibom Deep Sea Port. The long-term agreement is designed to allow the core investor to recoup its multibillion-dollar investment in what is set to become Nigeria’s first port featuring two-way traffic.
The announcement was made by Barr. (Mrs.) Mfon Usoro, Chairman of the Ibom Deep Sea Port Technical Committee, during a comprehensive stakeholder briefing held Wednesday at the Government House, Uyo.
Spanning 2,566 hectares within the larger 14,517-hectare Ibom Industrial City, the port traverses the Mbo and Ibeno Local Government Areas. Designed for ultra-large vessels, the facility will accommodate ships exceeding 200,000 tons with a capacity of 20,000 TEUs.
Currently, the ownership structure stands at Bollore Consortium (Core Investor) 60%, Akwa Ibom State Government: 40% (with intentions to divest further to increase private sector participation).
“Ibom Deep Sea Port is a game changer,” Usoro stated, noting that the project is expected to generate over 400,000 jobs. She urged Akwa Ibom residents to “skill up” immediately to remain competitive for the specialized maritime opportunities the port will create.
Addressing the pace of development, Usoro noted that while implementation is moving “slowly but steadily,” large-scale maritime projects typically require significant lead times, citing the 20-year development cycle of the Lekki Free Zone Port as a benchmark.
The project has reached several critical milestones. Q2 2026 Focus will be completion of the Front End Engineering Design (FEED) and renewal of the draft Concession Agreement with the Nigeria Ports Authority (NPA).
Q3 2026 will focus on regularization of the port’s Free Trade Zone status.
Governor Eno Calls for Patience and Preparation. In his remarks, Governor Umo Eno emphasized that the project is a marathon, not a sprint.
“No state government can do this alone,” the Governor remarked. “We shall implement Ibom Deep Sea Port in phases and we shall do our best to bring it to fruition.”
Governor Eno used the session to dispel speculation and highlight the administration’s efforts to create a “conducive business environment.” This includes significant investments in road networks, the new airport terminal, and the expansion of the Ibom Air fleet. He also revealed that the state has cleared over 50% of a ₦25 billion debt owed by the Ibom Power plant to ensure a steady gas supply for the region’s industrialization.
The briefing was attended by a high-powered delegation, including Deputy Governor Akon Eyakenyi, Speaker Udeme Otong, and former ministers Umana Okon Umana and Atuekong Don Etiebet.
The Federal Government has integrated the port into the current National Development Plan, recognizing it as a critical infrastructure project under the Federal Ministry of Blue Economy. Once operational, the port is expected to serve as a primary maritime hub for the South-South and South-East regions, as well as the wider Gulf of Guinea.
