Our company observed due diligence and subjected the selection process to high level transparency as evidenced in all the technical reports submitted. We did not influence or manipulate the relocation of the ports from Okposo to Ibeno
The relocation of the $4.6 billion Ibom Deep Sea Port (IDSP) from Okposo to Ibeno is not political but based on professional and engineering decisions, says Felak Concepts Ltd, the Transaction Advisor/Consultants to the IDSP and Free Trade Zone project. In a statement issued by Mr. Ezekail Adamu, spokesman for the consultant, it explained that the essence of the project initiated by the Federal Ministry of Transport and Akwa Ibom State Government as a full scale Greenfield Commercial Deep Sea Port Development in line with the proposed Ibom Industrial City (IIC) was too strategic for the Nigerian government and Akwa Ibom state to be subjected to politics.
According to Adamu: “Our company observed due diligence and subjected the selection process to high level transparency as evidenced in all the technical reports submitted. We did not influence or manipulate the relocation of the ports from Okposo to Ibeno.”
Findings showed that five locations were initially shortlisted for the mega-project expected to provide no fewer than 300,000 jobs. Out of the five locations, Okposo was selected as the site at the preliminary stage based on initial/ preceding studies for the Initial Due Diligence (IDD) which itself was subjected to further studies and research to ascertain its suitability.
The consultant explained that this was in tune with global best practices for projects of this magnitude and nature as all the characteristics and parameters were considered “leading or required to arrive at and make a fully founded location selection in the Final OBC/PPF document.”