Imo State has commenced the building of what would be the first ever Marine University in Africa at Ose-Moto, an emerging nerve centre for maritime and oil & gas business in Oguta Local Government Area of the state.
First phase of the university, which is sited near the Federal Inland Port, Oguta, and the Naval base would cost at least N2.5 billion, which would involve the costs for site clearing, landscaping, perimeter fencing, building of administrative blocks, lecture rooms and students’ hostels.
Funding for the marine varsity, said Governor Rochas Okorocha, while inspecting the site drawing at the weekend, would come from the Imo State Oil Producing Areas Development Commission (ISOPADEC), an agency, set up by the state government to harmonise development projects in the state’s oil bearing communities.
Imo has at least four local government areas that produce crude oil: Ohaji-Egbema, Oguta I & II, Iho, Mbieri and Obidiagba with a proven gas reserve of 7.8 trillion cubic feet (tcf), where Shell and Addax Petroleum undertake oil business.
Governor Okorocha after inspecting the university site, said with the issue of land now settled, work would soon commence, and the university when completed, would be the first of its kind in Africa and would be of benefit to the community, Imo State and by extension Nigeria.
He said the ISOPADEC has enough funds in its coffers to complete the project, assuring that the university would be ready to admit its first set of students in the next two years.
It is estimated that Imo State gets up to N800 million monthly as its share of the 13 percent oil derivation fund by oil producing states mainly in the Niger Delta region.
The governor further explained that the state government is collaborating with the Korean Marine University, after the ISOPADEC board members visited the Asian institution to understudy its programmes.