By Damilola Adeleke

The Chairman of Mercury Maritime Concession Company (MMCC), Rear Admiral Andrew Okoja (rtd), has appealed to President Bola Ahmed Tinubu to revalidate the $27.29 billion Escravos Seaport Industrial Complex (ESIC) project in Delta State. Speaking at a press conference in Lagos, Okoja emphasized the importance of federal government approval to enable the release of funds and commence the project’s development.

Okoja highlighted delays caused by the Federal Ministries of Industry, Trade, and Investment (FMIT&I) and Marine and Blue Economy (FMM&BE), which have stalled the issuance of a crucial revalidation letter for over a year. He called on President Tinubu to intervene and resolve the gridlock, commending his administration and Delta State Governor, Sheriff Oborevwori, for their support of the project.

Describing seaports as gateways to economic wealth, Okoja explained that the ESIC project would stimulate Nigeria’s economy, create wealth, and directly impact the economies of seven states: Delta, Edo, Bayelsa, Anambra, Kogi, Niger, and the Federal Capital Territory. He noted that the project, featuring inland dry ports and connectivity to marine, rail, road, and air networks, aligns with Tinubu’s “Renewed Hope” agenda.“

The Escravos Seaport project is a catalyst for economic development, with the potential to boost trade, industry, and commerce across Nigeria and the subregion,” said Okoja. He lamented that the project, which should have achieved 20% completion, remains stalled due to bureaucratic challenges.

Patrick Wodah, General Manager of MMCC, also urged the government to expedite the revalidation process, citing the project’s potential to attract $27.29 billion in foreign direct investment. “Given Nigeria’s economic challenges, including high unemployment and low productivity, this project is vital for economic recovery and growth,” Wodah stated.

The press conference reiterated MMCC’s commitment to making the ESIC project a reality, emphasizing its role in transforming Nigeria’s economy and positioning the nation as a hub for regional and global trade.