Abuja: The Managing Director and CEO of the Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho, says Nigeria leads Africa’s blue economy growth.
Dantsoho spoke at the Blue Economy Investment Summit on Wednesday in Abuja, highlighting the pivotal role Nigeria’s port system will play in unlocking investments nationwide.
He said that Nigeria’s port system would play a pivotal role in unlocking strategic investments and accelerating economic growth, driven by ongoing reforms and increased private-sector participation across the maritime sector.
Dantsoho attributed the maritime sector’s transformation to Federal Government reforms, stating these efforts help Nigeria compete in Africa’s evolving blue economy.
He assured investors that Nigeria can dominate Africa’s blue economy, with reforms and private sector participation as key drivers of change.
The country must urgently refocus its economic priorities to fully harness its vast marine resources, in line with global sustainability goals and evolving international maritime best practices.
“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.“ It is time for a shift in Nigeria’s economic structure to fully utilise our marine resources. large population and economic strength positioned it to become a maritime hub for West Africa, comparable to The NPA chief said Nigeria’s location, population, and economic strength position it to be West Africa’s maritime hub, like Singapore and Morocco.
These advantages, Dantsoho expressed concern that Nigeria currently handles only about 25 per cent of cargo traffic in the region,even though it accounts.
Despite these advantages, Dantsoho expressed concern that Nigeria currently handles only about 25 per cent of cargo traffic in the region,even though it accounts for over 60 per cent of West Africa’s GDP. This clearly shows that we have not fully optimised our potential,” he said.
He, however, assured investors that the Federal Government, through the Federal Ministry of Marine and Blue Economy, is implementing extensive reforms to reposition the sector.
He cited port modernisation, the Trade Single Window, the Port Community System, deep-seaports, and full digitalisation of operations as key initiatives.” Position our ports for global competitiveness,” he said.
Dantsoho said that private sector funding remained central to achieving these goals, noting that the NPA is actively encouraging project financing to bridge infrastructure gaps and improve operational efficiency.
“We are open to private sector participation through projects, ” Dantsoho said. Private funding is essential, and the NPA actively encourages project financing to bridge infrastructure gaps and boost efficiency.
Activity, reduce freight costs, and boost non-oil exports, ultimately significantly driving revenue growth across Nigeria’s maritime sector.“
The ultimate goal, ” he said, is to improve liner connectivity, attract larger vessels, reduce freight costs, and boost the export base for increased revenue generation.
In the global maritime industry, the goal requires efficient operations, competitive pricing and strong hinterland connectivity.
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 said.
Also speaking, the Minister of Marine and Blue Economy, Nigerian ports must adapt to global shipping trends. 8“With sustained commitment, Nigeria’s ports will enter a new phase and emerge as Africa’s leading maritime logistics hub,” he said.
The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, said Nigeria’s 823-km coastline and inland waterways strongly position the country to lead the sector.
He said that reforms by the Federal Government had improved coordination, strengthened maritime security and boosted investor confidence, noting that the sector accounts for over 90 per cent of Nigeria’s international trade by volume.
