Ibom Deep Seaport MoU: Separating Development from Disinformation 

Ibom Deep Seaport MoU: Separating Development from Disinformation 

By Emma Akpabio

In recent days, a wave of sensational and misleading publications has attempted to cast doubt on the Memorandum of Understanding (MoU) signed by the Akwa Ibom State Government on the Ibom Deep Seaport (IDSP) project.

Beyond describing the move as a political gimmicks, chief among these claims is the assertion that Governor Umo Eno’s administration hastily entered into an MoU with INTERAF Group barely two weeks after the company’s registration with the Corporate Affairs Commission (CAC), allegedly betraying deception, secrecy, and incompetence.

Having known Governor Umo Eno’s administration as one committed to transparency, continuity, and economic development, it is necessary to set the record straight and, more importantly, redirect public attention to what truly matters: the successful realization of a project that holds transformative potential for Akwa Ibom State and the wider West and Central African sub-region.

Before I proceed, It is very crucial to state clearly that a Memorandum of Understanding (MoU) is not a final or binding contract. An MoU only expresses intent and outlines a framework for further negotiations. It does not confer project ownership, execution rights, or financial closure.

Beyond signing an MoU, INTERAF Group is still required to present convincing evidence of technical capacity, financial strength, project financing arrangements, regulatory compliance, and delivery competence before any definitive agreement can be reached. This safeguards the state’s interest and ensures that only credible and capable partners proceed to the next stage.

Meanwhile, an Abuja-based oil and gas consultant, Mr. Mkposong Asuquo, confirms that “it is indeed correct that INTERAF Group was formally registered with the CAC on Monday, 22 December 2025. However, the deliberate attempt to portray this fact as evidence of inexperience or fraud is both misleading and intellectually dishonest.”

The Akwa Ibom–born professional explains that “INTERAF Group was not registered as a stand-alone start-up conjured overnight. Rather, it is a consortium structure, a globally accepted corporate model formed by the convergence of several long-established and professionally active companies.

“These subsidiaries include INTERAF Assets Management Limited, INTERAF Infrastructure Company Limited, INTERAF Engineering Company Limited, INTERAF Power Development Company Limited, INTERAF Farms Limited, and Net Zero Energy Limited.” Asuquo added.

It is noteworthy that over time, each of these entities has developed its own operational history, governance framework, and sectoral expertise spanning infrastructure delivery, engineering, energy development, asset management, and sustainability.

The registration of INTERAF Group merely provides a holding and coordination framework for strategic oversight, risk management, and capital structuring for large-scale projects such as the Ibom Deep Seaport, an approach that is standard practice in major infrastructure and Public-Private Partnership (PPP) projects globally.

Further findings reveal that contrary to insinuations of superficiality, INTERAF Group has an authorised share capital of 100 million shares—clear evidence of seriousness, scale, and long-term financial planning.

Deep seaport projects are capital-intensive undertakings, and no responsible government would partner with entities that lack financial depth, technical competence, or regulatory credibility. It is also important to state that INTERAF Group passed through the qualifying and investment-screening processes of the Akwa Ibom Investment Corporation (AKICORP), the state’s designated investment promotion and industrial development agency.

This confirms that the MoU was neither secretive nor rushed, but executed within an established framework of institutional oversight. Globally, newly registered consortia, Special Purpose Vehicles (SPVs), or project-specific entities are routinely used in infrastructure, oil and gas, and energy projects once technical and financial thresholds are met.

The Ibom Deep Seaport is not a political gimmick. It is a flagship project envisioned as a maritime gateway for regional and international trade, with the capacity to decongest existing ports, attract industrial investments, create thousands of jobs, and significantly boost internally generated revenue for the state.

With its deep natural draft, integrated industrial city, and transshipment potential, the project demands technical expertise, long-term capital commitment, regulatory compliance, and structured consortium participation. These are the fundamentals that should command public interest, not the timing of a consortium’s registration or the theatrics of fake publications.

Governor Umo Eno’s administration deserves commendation for sustaining a governance philosophy anchored on continuity; strengthening and completing projects initiated by previous administrations rather than abandoning them. This approach safeguards public resources, enhances investor confidence, and reinforces the state’s reputation as a serious destination for long-term investment.

It is also fitting to acknowledge the contributions of past governors and elder statesman – former Petroleum Minister, and one of Akwa Ibom’s exports to the world, Atuekong Don Etiebet, whose efforts contributed to the MoU which is also a step toward the realization of the Ibom Deep Seaport. Akwa Ibom is indeed a blessed land.

At this critical juncture, the choice before the public is simple: allow misinformation and sensational headlines to derail collective progress, or support a project with the potential for enduring economic impact.

History will not remember fake publications. It will remember whether the Ibom Deep Seaport was allowed to become a reality. This project is that moment, and it deserves support rooted in facts not propaganda.