The Managing Director and Chief Executive Officer of the Nigerian Ports Authority, NPA, Dr. Abubakar Dantsoho, has credited the ongoing transformation of Nigeria’s maritime sector to the reforms driven by the Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, alongside the federal government’s strategic initiatives.
This was as Dantsoho assured investors that Nigeria has the capacity to dominate Africa’s blue economy, citing ongoing federal government reforms and increased private sector participation as critical drivers of transformation in the maritime sector.
Dantsoho gave the assurance while speaking at the Blue Economy Investment Summit in Abuja, where he stressed that Nigeria’s port system would play a pivotal role in unlocking strategic investments and accelerating economic growth.
He noted that the country must urgently refocus its economic priorities toward 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,” Dantsoho said.
The NPA boss explained that Nigeria’s strategic location, large population and economic strength position 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,” he added.
Despite these advantages, Dantsoho expressed concern that Nigeria currently handles only about 25 per cent of cargo traffic in the region, even though it accounts 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 optimized our potential,” he said.
He, however, assured investors that the tide is turning, as the federal government, through the Federal Ministry of Marine and Blue Economy, is implementing far-reaching reforms to reposition the sector.
According to him, 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.
“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 stated.
Dantsoho 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 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 added that the reforms are designed to enhance port efficiency, improve connectivity, reduce freight costs and boost non-oil exports, ultimately driving revenue growth.
“The ultimate goal is to improve liner connectivity, attract bigger vessels, reduce freight costs, and expand our export base,” Dantsoho said.