PEER Foundation condemns Tinubu’s politicisation of Ibom Seaport, says project is a constitutional right
PEER Foundation declared that the Ibom Deep Seaport is a constitutional right earned through massive contributions amounting to ₦29.33 trillion from oil and gas resources extracted in Akwa Ibom State between 1999 and 2025, and not a campaign promise or political favour.
The Ibom Peoples’ Empowerment and Ecosystem Restoration Foundation (PEER Foundation) has rejected President Bola Tinubu’s recent declaration that the realisation of the Ibom Deep Seaport would depend on the Akwa Ibom people’s support for him in the 2027 elections.
Speaking at a presidential rally in Uyo on Friday, November 6, President Tinubu reportedly asked the people of Akwa Ibom State, “Will you vote for me? If you vote for me, then the Seaport is yours.”
Tinubu was further quoted as saying, “Your request for the Ibom Deep Sea Port is hereby approved. The Ibom Deep Sea Port will bring associated economic value and development to the people, just as the governor has said.”
Responding to the President’s speech, Mfon Gabriel, the Executive Director of PEER Foundation, in a press release on Tuesday, declared that the Ibom Deep Seaport is a constitutional right earned through massive contributions amounting to ₦29.33 trillion from Akwa Ibom State between 1999 and 2025, and not a campaign promise or political favour.
“Between the return of democracy in 1999 and the end of 2025, Akwa Ibom State contributed an estimated ₦29.33 trillion to the national treasury from oil and gas resources extracted from its land and waters, while receiving ₦3.814 trillion as its statutory 13% Derivation share—based on data from the Nigeria Extractive Industries Transparency Initiative (NEITI) and the Office of the Accountant General of the Federation”
Gabriel highlighted that the Federal Executive Council (FEC) had already approved the $4.6 billion project in December 2020, urging the President to explain the delay in releasing funds and sovereign guarantees for its development.
The Foundation further criticised recent port infrastructure deals that bypassed the Ibom Deep Seaport, such as the £746 million UK Export Finance facility for Lagos ports and a $7 billion-plus Public-Private Partnership for Ogun State’s port developments, reinforcing that the seaport in Akwa Ibom remains sidelined.
PEER Foundation noted that the Ibom Deep Seaport, with a natural water depth of 17.5 meters capable of handling ultra-large ships, promises to ease congestion in Lagos, promote regional trade within the Gulf of Guinea and economic integration under the African Continental Free Trade Area (AfCFTA).
Gabriel called on President Tinubu, other relevant federal agencies, and the National Assembly to prioritise the seaport’s funding immediately, while removing partisanship from its timeline.
“We call on President Tinubu not to wait until after the 2027 elections, but to immediately facilitate the sovereign guarantees and financial commitments required to unlock the $2.016 billion Phase 1 take-off fund to build and operationalize the first terminal and initial facilities of the Ibom Deep Seaport. Concrete action is a far stronger commitment than campaign promises,” Gabriel emphasised.
