WorldStage– The Managing Director and Chief Executive Officer of the Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho has said that Nigeria is at the forefront of Africa’s blue economy growth.
Dantsoho said this while speaking at the Blue Economy Investment Summit on Wednesday in Abuja, noting that Nigeria’s port system would play a pivotal role 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 improved private sector participation across the maritime sector.
Dantsoho attributed the transformation of the nation’s maritime sector to the impact of reforms by the Federal Government, noting that these efforts are positioning Nigeria to compete favourably within Africa’s evolving blue economy landscape.
He assured investors that Nigeria had the capacity to dominate Africa’s blue economy, citing ongoing reforms and increased private sector participation as critical drivers of transformation in the maritime sector.
He said that the country must urgently refocus its economic priorities towards fully harnessing 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 harnessed, can serve as a major driver of economic growth,” Dantsoho said.
The NPA boss said that Nigeria’s strategic location, large population and economic strength positioned it to become a maritime hub for West Africa, comparable to global leaders 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.”
Despite these advantages, Dantsoho expressed concern that Nigeria currently handled only about 25 per cent of cargo traffic in the region, despite accounting for over 60 per cent of West Africa’s GDP.
According to him, 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 implementing far-reaching reforms to reposition the sector.
“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.
“This is to reposition 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 project financing. This approach is already improving efficiency and providing access to funding for critical infrastructure,” he said.
He said that the reforms were designed to enhance port efficiency, improve connectivity, reduce freight costs and boost non-oil exports, ultimately driving revenue growth across Nigeria’s maritime sector significantly.
“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.
“Competitiveness in the global maritime industry 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, Dr Adegboyega Oyetola, said Nigeria’s natural endowments, including its 823-kilometre coastline and extensive inland waterways, positioned it strongly to lead the sector.
Oyetola said with over over 823 kilometres of coastline, extensive inland waterways and a prime location along the Gulf of Guinea, Nigeria was uniquely positioned to harness the immense potential of the marine and blue economy.
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.
