
UAE Firm Takes 80 Percent of Bakassi Deep Seaport Shareholding
By Anietie Akpan In a significant step towards realizing the Bakassi Deep Seaport project, the Cross River State Executive Council (EXCO) has ratified the shareholders’ agreement governing the port’s ownership and operations. Under the agreement, Arise IPP Ltd; the United Arab Emirate (UAE) based firm will acquire 80 percent stake in the project, while…