The Nigerian Ports Authority’s CEO, Abubakar Dantsoho, says Nigeria is at the forefront of Africa’s blue economy growth.

Mr 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 increased private-sector participation across the maritime sector.

Mr Dantsoho attributed the transformation of the nation’s maritime sector to reforms by the federal government, noting that these efforts are positioning Nigeria to compete favourably in 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.

Mr Dantsoho said the country must urgently refocus its economic priorities to fully harness 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,” Mr 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.

Despite these advantages, Mr 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.

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.

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.

Mr 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.

Marine and blue economy minister Adegboyega Oyetola said Nigeria’s natural endowments, including its 823-kilometre coastline and extensive inland waterways, positioned it strongly to lead the sector.

Mr Oyetola said with 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 government reforms 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. 

(NAN)