The Minister of Transport, Sen. Idris Umar, said on Tuesday
the Federal Government was partnering Akwa Ibom Government and private
investors to develop Ibaka Deep Sea Port to accommodate high volume of cargoes.

The minister stated this at the inauguration of the Project
Development and Steering Committee of the port on Tuesday in Abuja.

Umar said the Ibaka port would be developed under Public
Private Partnership (PPP) to accommodate cargoes generated through
international maritime trade.

He said the port’s location, which is an integral part of
Ibom Industrial City and an important milestone in the development of Akwa
Ibom, offered investors unparalleled opportunities for maritime and oil and gas
related productions.

According to him, the site will also accommodate dry docking
facilities for super tanker vessels and offer low cost access to off shore
Oil/Gas Fields.

“Mr President attaches great importance to this project
which is indeed part of the Transformation Agenda. We are committed to the
completion of the project by the year 2015,” he added.

Umar said President Goodluck Jonathan convened a Maritime
Sector Retreat on July 3 to articulate concrete Action Plans to harness the
potential of the maritime sector for sustainable national economic development.

“We are taking an important step in the actualisation of one
of the key outcomes of that presidential initiative,” the minister said.

He said the sector was central to the nation’s economy as a
veritable medium of transportation, global commerce, resource exploitation and
recreation.

The minister said the government created enabling
environment to maximise the potentials of the sector and encourage PPP,
particularly in the development of sea ports to facilitate international trade.

“It is not in doubt that the nation’s existing six ports are
over-stretched. With an overall handling capacity of 60 million tonnes per
annum, the ports presently cater for over 100 million tonnes per annum.

“It is, therefore, evident that the existing ports cannot
cope with the current demand of the sector,” he said.

He commended Gov. Godswill Akpabio for providing more than
5,000 hectares of land for the port, with further commitment to provide basic
infrastructure, including the main access road.

Umar urged members of the committee to apply their
experience and expertise to the assignment and ensure diligent implementation
of the project.

Responding, the Secretary to the Akwa Ibom State Government,
Mr Umana Umana, who is also a member of the committee, thanked the President
for approving the project, promising that the state would ensure successful
completion of the project.

Responding on behalf of the committee, the chairman, Dr
Iorwuese Viashima, thanked the minister for the confidence reposed in the
members.