The Managing Partner of Paul Usoro & Co., Mrs. Mfon Usoro, was appointed by the Akwa Ibom State Government (“AKSG“) in 2016, to head the Akwa Ibom State Technical Committee on the Ibom Deep Sea Port and Ibom Industrial City (the “TC“). The TC is a high-powered private sector-led committee, charged with the task of the realization of the IDSP and IIC projects.
The Ibom Deep Sea Port (“IDSP“) project is a Federal Government project driven by the Federal Ministry of Transportation, AKSG and the Nigerian Ports Authority (“NPA“). The sea port is designed for very large vessels having a capacity of over 13 thousand containers in one voyage, and will serve as a world-class deep sea port with potential to be a major logistics hub in the West and Central African region.
The Ibom Industrial City (“IIC“) project on its part is a project geared towards the development of a smart, modern and attractive, safe and secure place to do business and live in. The IIC will be developed on 14,517Ha area of land in the South East region of Nigeria carved out of two local government authorities (Mbo and Ibeno) in Akwa Ibom State. The 14,517ha of land has been acquired and has been designated as a Free Trade Zone by the Federal Government of Nigeria. The rationale behind the development of the IIC is to design a fully integrated city where industries and their supply chain will be in close proximity to each other to maximize efficiency. Accordingly, The city will take advantage of its location and natural resources to include the IDSP. In addition to the IDSP, the master plan for the IIC stipulates that the city will comprise residential areas, mixed use zones, education hub, light industry, heavy industry, logistics, utilities, natural resources, and open space.
In furtherance of the objectives of the IIC, the master plans for the IDSP, and the IIC are being developed concurrently.
Ibom Deep Sea Port Project (“IDSP”) is a Greenfield deep sea port project initiated by the Federal Government of Nigeria (“FGN”) and the Akwa Ibom State Government (“AKSG”). The IDSP, which is located within the boundaries of the Ibom Industrial City, is a Public/Private Partnership Programme to be managed by an entity described as the Project Development and Management Company (“PDMC”), and the PDMC will be jointly owned by the FGN, AKSG and private sector investors in the ratio of 20:20:60 respectively.
Paul Usoro & Co (“PUC”) is currently advising and representing the AKSG before the Akwa Ibom State High Court, and the Court of Appeal in respect of the dispute arising from the execution of the Consultancy Agreement appointing Felak Concept Limited as a Technical Consultant in IDSP. PUC, on behalf of AKSG, had approached the Court to enforce its right to execute the Ibom Deep Sea Port Project without let or hindrance howsoever from a purported stakeholder in the Project. PUC successfully obtained a protective injunction, and also defended an application which sought to challenge the State High Court’s jurisdiction to entertain the Suit. The Defendant was dissatisfied with the Ruling with regard to the challenge to the Court’s jurisdiction and same is currently a subject of an Appeal before the Calabar Division of the Court of Appeal.
The Akwa Ibom State Technical Committee on Ibom Deep Sea Port and Industrial City (the “TC”), a committee set up by the AKSG for the realization of the IDSP, and development of the Ibom Industrial City (the “Projects”), also engaged the services of PUC to provide ad-hoc legal support to the committee, periodically.
In furtherance of that, PUC in collaboration with another legal adviser, advised the TC on the following:
The procurement processes of Akwa Ibom State for consultants/contractors/investors;
With respect to the project, whether it is a regulatory requirement to obtain the approval of the Bureau for Public Procurement (BPP) for the appointment of consultants/contractors, and selective tendering process;
At what point, and to what extent the Infrastructure Concession and Regulatory Commission will be involved in the Projects as prescribed by law; and
The process for the establishment of a state owned public entity as the SPV in the proposed PDMC.
The soothing evening of Friday, 05 January 2018 at the Colonades Hotel, Ikoyi, served as a perfect time and venue for the 2018 edition of our annual New Year Party. The New Year Party was our manner of celebrating the success that was Year 2017, and to savour the prospects of the New Year, 2018. The Continue reading “PAUL USORO & CO USHERS IN THE NEW YEAR”