The Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has projected double-digit growth in cargo throughput and revenue from the $85 million expansion of its port and terminal facilities in Port Harcourt.
The MD made the disclosure when he received the Chairman of BUA Group, Mr. Abdul Samad Rabiu.
He said that about $85 million in the expansion of its BUA Ports and Terminals facility in Port Harcourt is a major boost to trade and the development of Nigeria’s eastern ports.
Mr. Dantsoho said that the investment would increase cargo volumes, generate more revenue for the country and strengthen the competitiveness of Nigerian ports.
According to him, the Authority is committed to collaborating with investors to improve port efficiency and unlock greater economic value.
He said that BUA has been a major stakeholder for many years.
“So in that way, our volumes will increase, which means that even if we are talking about exporting, we are exporting more. If we are talking about importing, we can import more. And by so doing, now we are going to make more value. That is money from those transactions. And that is what the government is expecting of us.“Mr. Dantsoho said.
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He also commended President Bola Tinubu for encouraging closer collaboration between the Authority and private sector investors.
“So that we can make Nigerian Port Authority a greater stakeholder in West Africa and Africa in general,” he said.
On the expected impact of the project, the NPA boss said that the investment would deliver significant growth in cargo traffic and earnings.
“We are going to expect that we are going to have more volumes. Once you have volumes, then you have more value, then more dollars and more naira will come,” he stated.
Mr. Dantsoho noted that on a normal day, 16 percent is expected anywhere in the world in the port industry.
“I’m sure we can get like 13-14 per cent, which is a very fantastic thing to happen,” he noted.
He added that Nigeria’s ports have recently recorded significant improvements in global rankings.
“As you can see, just as recently as two months ago, the Nigerian ports, especially Tin Can and Apapa, were recognised by S&P and the World Bank as among the 20 most improved ports in the world.
“We can’t be doing that as NPA alone. This is what has been missing for some time. We know that we have to come to them. They know that they have to come to us. This is something that must happen for us to make any progress. And we are achieving that, so give God the glory,” he stressed.
The Chairman of BUA Group, Mr. Abdul Samad Rabi, said BUA is prepared to handle more than two million tonnes of imported raw materials annually for its growing food business.
He explained that BUA Foods is undergoing a major expansion programme and that efficient port infrastructure is essential to sustaining its operations.
“As you know, BUA Foods is operating in Port Harcourt, and BUA Foods is expanding, and by the time we are done with the expansion, inshallah, next year, we will be having almost over two million tonnes of products being imported as raw materials to Port Harcourt, and for that we need a terminal, we need a facility,” he explained.
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On the scale of the maritime investment, Rabiu clarified that the port expansion alone is valued at about $85 million.
“The ports expansion is about $80 million in total, and that is going to give us about 600 metres of seaside,” he said.
The BUA chairman noted that the expanded terminal would strengthen the company’s logistics backbone as it grows across food, cement, mining, infrastructure and other industrial segments.
He stressed that Nigeria’s economic potential can only be fully realised with improved port infrastructure, saying the country still lags behind major economies in that area.
“Nigeria, being the biggest economy, Lagos being the biggest economy, yet we don’t have the infrastructure as far as ports infrastructure is concerned,” he said.
He commended the NPA management for what he described as its competence and dedication, while also thanking President Bola Tinubu for the appointment of the current leadership.
Reflecting on the history of the Port Harcourt terminal, Rabiu revealed that the facility had once faced the threat of losing its acquisition rights, but said the current support from the NPA had enabled the project to move forward successfully.
The expansion is expected to provide about 600 metres of quay frontage, significantly increasing BUA’s cargo-handling capacity in Port Harcourt and positioning the company to support its rising import volumes and broader industrial growth strategy.
