…says Nigeria ready to lead Africa’s blue economy

By Joseph Erunke, Abuja

Managing Director and Chief Executive Officer of the Nigerian Ports Authority, NPA, Dr. Abubakar Dantsoho, has credited the ongoing transformation in Nigeria’s maritime sector to the reforms being driven by the Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, and the Federal Government.

Dantsoho also declared that Nigeria has the capacity to dominate Africa’s blue economy if ongoing reforms, private sector investments and infrastructure upgrades are sustained.

Speaking at the Blue Economy Investment Summit in Abuja, the NPA boss said Nigeria’s ports system remains central to the country’s economic future and could unlock massive investments, create jobs and stimulate long-term growth.

According to him, Nigeria must urgently shift its economic focus toward fully harnessing its enormous marine resources in line with global trends and sustainability goals.

“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 noted that Nigeria’s strategic location on the Gulf of Guinea, coupled with its large population and economic strength, gives it a strong advantage to emerge as the maritime hub of West Africa.

“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 said Nigeria has all it takes to rival leading maritime nations such as Singapore and Morocco, but lamented that the country has yet to fully optimise its maritime potential.

Despite accounting for more than 60 per cent of West Africa’s Gross Domestic Product, GDP, he said Nigeria currently handles only about 25 per cent of cargo traffic within the sub-region.

“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.

The NPA chief, however, assured investors that the situation is changing rapidly as the Federal Government intensifies reforms through the Ministry of Marine and Blue Economy.

He listed some of the major initiatives currently being implemented to reposition Nigeria’s ports for global competitiveness to 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 said.

According to him, the reforms are already improving port efficiency, reducing bottlenecks and creating a more attractive environment for local and foreign investors.

Dantsoho stressed that private sector participation would remain critical to achieving the ambitious goals of the maritime sector, noting that the NPA is encouraging project financing to bridge infrastructure gaps and drive 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 explained that the broader objective of the reforms is to improve liner connectivity, attract bigger vessels, reduce freight costs, boost non-oil exports and increase revenue generation for the country.

“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 added.

Dantsoho said Nigeria’s ability to compete globally in the maritime sector would depend largely on efficient port operations, competitive pricing and stronger connectivity between ports and the hinterland.

“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.

Also speaking, Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, said Nigeria’s vast natural resources and strategic location place it in a strong position to lead Africa’s blue economy.

He noted that with more than 823 kilometres of coastline, extensive inland waterways and a prime location along the Gulf of Guinea, Nigeria possesses enormous untapped opportunities in the maritime 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.

The minister added that reforms introduced by the Federal Government have improved coordination within the sector, strengthened maritime security and boosted investor confidence.

He noted that the maritime sector remains a critical pillar of the Nigerian economy, accounting for more than 90 per cent of the country’s international trade by volume.