Shettima spoke on Friday while representing President Bola Tinubu at the groundbreaking ceremony of the project in Ikang, Bakassi Local Government Area of Cross River State.
He described the proposed seaport as a strategic national investment that would establish an eastern maritime economic corridor, connecting the South-South, South-East, Middle Belt and North-East to regional and international markets.
Shettima said the port would create opportunities for agricultural produce, solid minerals and manufactured goods from different parts of the country to reach international markets.
He specifically mentioned cocoa from Ikom, rice from Ogoja, timber and other mineral resources as commodities that could benefit from the proposed facility.
According to him, the project would also generate employment for engineers, truck drivers, crane operators, welders, customs officers, traders and other service providers.
He urged the people of Bakassi and Cross River State to protect the project from political interference and misinformation, describing it as an opportunity to expand the state’s economic prospects.
Earlier, Governor Bassey Otu said the project, initiated by a previous administration, had encountered political, administrative, legal and environmental challenges before securing the necessary federal approvals.
Otu said the state government had completed environmental, hydrographic, geotechnical and geophysical assessments, adding that the Federal Executive Council had granted the project its third approval, with an initial funding commitment of $2.27bn.
He said the project would be executed under a public-private partnership arrangement and called on local and international investors to explore opportunities in shipping, maritime logistics, fishing, shipbuilding and related industries.
The President of the African Export-Import Bank, Dr George Elombi, represented by Mrs Kanayo Awani, said the bank was serving as mandated lead arranger and financial adviser to the $3.5bn project.
Awani said Afreximbank was helping to structure the public-private partnership, address early-stage risks and mobilise regional and international investment.
The bank said the port would support the African Continental Free Trade Area by improving access to regional and international markets, while stressing the need for complementary infrastructure, including roads, electricity and efficient customs services.
