By Obiabin Onukwugha
Managing Director and Chief Executive Officer of the Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho, has stated that Nigeria has the capacity to dominate Africa’s blue economy, citing reforms and increased private sector participation as key drivers of progress in the maritime industry.
Dantsoho stated this while speaking at the Blue Economy Investment Summit in Abuja, on Thursday. He emphasised that Nigeria’s port system will play a pivotal role in unlocking strategic investments and accelerating economic growth.
He also attributed the transformation of the nation’s maritime sector to ongoing federal government reforms and the leadership of the Minister of Marine and Blue Economy, Dr Adegboyega Oyetola.
Dontsoho emphasised that Nigeria must urgently refocus its economic priorities towards fully harnessing its vast marine resources in line with global 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,” he said.
The NPA boss noted that Nigeria’s strategic location, large population and economic strength positions it to become a maritime hub for West Africa, comparable to global leaders such as Singapore and Morocco, pointing out that “By virtue of our strategic location, market size and economic strength, Nigeria is well-positioned to function as the maritime hub for West Africa.”
Dantsoho expressed concern that Nigeria currently handles only about 25 per cent of cargo traffic in the region, despite accounting for over 60 per cent of West Africa’s GDP.
“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 assured investors that the Federal Ministry of Marine and Blue Economy is implementing far-reaching reforms to reposition the sector, stating that 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.
He further emphasised that private sector funding remains central to achieving these goals, noting that the NPA is actively encouraging project financing to bridge infrastructure gaps and improve efficiency.
“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.
“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 stated.
He added that the reforms are designed to enhance port efficiency, improve connectivity, reduce freight costs and boost non-oil exports, ultimately driving revenue growth.
Minister of Marine and Blue Economy, Adegboyega Oyetola, in his address, stated that Nigeria’s natural endowments, including its 823-kilometre coastline and extensive inland waterways, places it in a strong position to lead in 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 added that reforms by the federal government have 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.