The Governor of Cross River State, Bassey Otu has said that the Bakassi Deep Seaport project will be funded without the state taking any loan facility.

Otu noted that the project a flagship of his administration, though not conceptualised by his government, would change the economic landscape of the state and that of the country at large.

The governor disclosed this at a media parley with selected journalists in Calabar on Tuesday.

He explained that the Bakassi Deep Seaport project was purely investor-driven and estimated to cost about $3.5 billion.

He added that all that was required of the state was to carry out all the preliminary works needed for the actual construction work to commence.

According to him, the Seaport project will change the economic fortune of the state; it will be the best and the groundbreaking ceremony will come soon.

“The government is not borrowing any money to fund this project, the fund will be provided by the investor through AFREXIMBANK.



https://punchng.com/3-5bn-bakassi-deep-seaport-will-be-funded-without-loan-criver-gov/