The Managing Director and Chief Executive Officer of the Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho, has said Nigeria can lead Africa’s blue economy, citing ongoing reforms and increased private sector participation as key drivers of transformation.
Dantsoho attributed progress in the maritime sector to reforms by the Federal Government and the Minister of Marine and Blue Economy, Dr Adegboyega Oyetola.
The NPA Managing Director and CEO stated this in Abuja during the Blue Economy Investment Summit, where he said Nigeria’s port system would play a pivotal role in unlocking investments and accelerating economic growth.
“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,” Dantsoho said.
He said Nigeria’s strategic location, large population and economic strength positioned it to become a maritime hub for West Africa, comparable to countries such as Singapore and Morocco.
“By virtue of our strategic location, market size and economic strength, Nigeria is well-positioned to function as the maritime hub for West Africa,” he said.
Dantsoho, however, expressed concern that Nigeria currently handled only about 25 per cent of cargo traffic in the region, despite accounting for more than 60 per cent of West Africa’s Gross Domestic Product.
“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 s
He said the Federal Ministry of Marine and Blue Economy was implementing reforms to reposition the sector, including 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 said.
Dantsoho said private sector funding remained central to achieving these goals, noting that the authority was 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 were designed to enhance efficiency, improve connectivity, reduce freight costs and boost non-oil exports.
“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 said.
Dantsoho said sustained implementation of the reforms would position Nigeria’s port system as a leading maritime logistics hub in Africa.
“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, Dr Adegboyega Oyetola, said Nigeria’s natural endowments placed it in a strong position to lead the sector.
“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,” Oyetola said.
He said reforms by the Federal Government had improved coordination, strengthened maritime security and boosted investor confidence, noting that the sector accounted for over 90 per cent of Nigeria’s international trade by volume.