The Managing Director and Chief Executive Officer of the Nigerian Ports Authority, (NPA), Abubakar Dantsoho, has said Nigeria is at the forefront of Africa’s blue economy growth, driven by ongoing reforms and increased private sector participation.
Dantsoho stated this on Wednesday while speaking at the Blue Economy Investment Summit in Abuja, noting that the country’s port system would play a critical role in unlocking investments and accelerating economic development.
He attributed the transformation in the maritime sector to reforms by the Federal Government, adding that the initiatives are positioning Nigeria to compete favourably within Africa’s evolving blue economy landscape.
According to him, Nigeria has the capacity to dominate the sector, but must urgently refocus its economic priorities to fully harness 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.
Dantsoho highlighted Nigeria’s strategic location, population and economic strength as key advantages, saying the country is well-positioned to become a maritime hub for West Africa, comparable to global leaders such as Singapore and Morocco.
However, he 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 Gross Domestic Product (GDP).
“This clearly shows that we have not fully optimised our potential,” he said.
He assured investors that the Federal Government, through the Federal Ministry of Marine and Blue Economy, is implementing wide-ranging reforms to reposition the sector.
Dantsoho listed key initiatives 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.
He emphasised that private sector funding remains central to achieving these goals, noting that the NPA is 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.
The NPA boss added that the reforms are aimed at improving connectivity, reducing freight costs, attracting larger vessels and boosting non-oil exports.
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“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, Adegboyega Oyetola, said Nigeria’s natural endowments, including its 823-kilometre coastline and extensive inland waterways, position it strongly to lead the sector.
He noted that the country’s location along the Gulf of Guinea further enhances its strategic advantage, adding that ongoing reforms have improved maritime security, strengthened coordination and boosted investor confidence.
Oyetola said the maritime sector accounts for over 90 per cent of Nigeria’s international trade by volume, underscoring its critical role in the nation’s economy.
