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Cross River To Retain 20 Per Cent Equity In Bakassi Deep Seaport

Summary by The Whistler Nigeria

The Cross River State government is to retain 20% equity in the proposed Bakassi Deep Seaport Project while Arise IPP Ltd will acquire 80% stake. This share allotment enables Arise IPP Ltd., a major partner to fulfill key obligations, including securing project financing—an effort already initiated through an Afreximbank facility. This was part of the decisions reached by the state executive council presided over by Governor Bassey Otu late Thur…

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The Nigerian Post

Cross River Exco Ratifies Shareholders’ Agreement on Bakassi Deep Seaport - The Nigerian Post

Cross River Exco Ratifies Shareholders’ Agreement on Bakassi Deep Seaport … Approve Overseas specialized training on Seaport Operations for select indigenes In a significant step toward realizing the Bakassi Deep Seaport project, the Cross River State Executive Council has ratified the shareholders’ agreement governing the port’s ownership and operations. The agreement mandates the restructuring of Bakassi Deep Seaport Ltd., the Special Purp…

1 month ago

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