NPA TO INVESTORS: NIGERIA HAS CAPACITY TO DOMINATE AFRICA’S BLUE ECONOMY

NPA TO INVESTORS: NIGERIA HAS CAPACITY TO DOMINATE AFRICA’S BLUE ECONOMY
By prince Benson Davies

The Nigerian Ports Authority (NPA) has assured investors that Nigeria has adequate capacity to dominate Africa’s Blue Economy, citing ongoing Federal Government reforms that are transforming the country’s port system into a leading maritime and logistics hub on the continent.

Managing Director and Chief Executive Officer of NPA, Dr. Abubakar Dantsoho, gave the assurance while speaking at the just concluded Blue Economy Investment Summit held in Abuja. He said Nigeria’s port system would play a pivotal role in unlocking strategic investments and accelerating national economic growth.

Dr. Dantsoho noted that recent reforms have increased private sector participation and are driving major transformation across the maritime industry. He attributed the progress to the leadership style of the Minister of Marine and Blue Economy, H.E. Dr. Adegboyega Oyetola, and to policy reforms introduced by the Federal Government.

Recall that in the past few years the government has embarked on massive reform of the port system. The reforms focus on port modernisation, which is geared towards revamping and upgrading port infrastructure and superstructure across all port locations in the country. These efforts have improved efficiency and reduced cost.

Only recently, the Government deployed the Port Community System (PCS) and the National Single Window (NSW) platform. The platforms integrate all port systems and are expected to reduce delays and operational cost by over 50 per cent.

“Nigeria must as a matter of urgency refocus its economic priorities toward fully harnessing its vast Blue Economy potential in tandem with global sustainability goals,” Dantsoho said.

“The time has come for a paradigm shift in the structure of Nigeria’s economy towards the full utilisation of our marine resources. Our port system, if properly harnessed, can serve as a major driver of economic growth.”

He said Nigeria’s strategic location, large population and economic strength position it to become a maritime hub not only for West Africa, but also across the continent comparable to global leaders such as Singapore and Morocco.

“By virtue of Nigeria’s strategic location, market size and economic strength, she is well positioned to function as the maritime hub not only for the West African region, but also across the continent of Africa,” the NPA MD assured.

Dantsoho however expressed concern that Nigeria currently handles only about 25 per cent of cargo traffic in the region, while it accounts for over 60 per cent of West Africa’s gross domestic product (GDP).

“It is worrisome that Nigeria, despite controlling over 60 per cent of West Africa’s GDP, handles only about 25 per cent of the region’s cargo traffic. This clearly shows that we have not fully optimised our potential,” he said.

He however assured investors that the tide was turning, as the Federal Government, through the Federal Ministry of Marine and Blue Economy, is currently implementing far-reaching reforms to reposition the sector.

According to him, key initiatives include port modernisation, deployment of a Trade Single Window, implementation of a Port Community System, development of deep seaports and full digitalisation of port operations.

“We are implementing key strategic initiatives such as port modernisation, trade single window, port community system, deep seaport development and full digitalisation to reposition our ports for global competitiveness,” he stated.

Dantsoho emphasised that private sector funding remains central to achieving these goals, noting that the NPA is actively encouraging project financing to bridge infrastructure gaps and improve efficiency.

“We are open to private sector participation through project financing. This approach is already improving efficiency and providing access to funding for critical infrastructure,” he said.

He added that the reforms are designed to enhance port efficiency, improve connectivity, reduce freight costs and boost non-oil exports, ultimately driving revenue growth.

“The ultimate goal is to improve liner connectivity, attract bigger vessels, reduce freight costs, and expand our export base, which will significantly boost revenue generation,” he noted.

Dantsoho stressed that competitiveness in the global maritime industry requires efficient operations, competitive pricing and strong hinterland connectivity, adding that Nigerian ports must remain adaptive to evolving global shipping trends.

“With sustained commitment to these initiatives, Nigeria’s port system will enter a new phase and emerge as a leading maritime logistics hub in Africa,” he assured.

Meanwhile, Minister of Marine and Blue Economy, Gboyega Oyetola, who spoke earlier, said Nigeria’s natural endowments, including its 823-kilometre coastline and extensive inland waterways, place her in a strong position to lead the sector in Africa.

The Minister said: “With over 823 kilometres of coastline, extensive inland waterways and a prime location along the Gulf of Guinea, Nigeria is uniquely positioned to harness the immense potential of the marine and blue economy.”

He assured that the Federal Government has over the past few years improved coordination, strengthened maritime security governance and boosted investor confidence, which makes the sector account for over 90 per cent of the country’s international trade volumes.