Port development: NPA projects 30% growth in trade volume by 2030
The Managing Director of the Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho, has projected a 30% growth in trade volume by 2030 in Nigeria’s ports.
He made this known at the 2024 edition of the Association of Maritime Journalists of Nigeria (AMJON) conference and awards, held recently in Lagos.
He noted that the ongoing improvements in port infrastructure will create over one million jobs by 2028 and a doubling of the sector’s Gross Domestic Product (GDP) contribution from 1.5% to 3% by 2035.
Presenting a paper titled: “Nigeria’s Blue Economy and Ports Infrastructural Development: The NPA Perspective” at the conference, Dr Dantsoho highlighted the vast investment opportunities in Nigeria’s blue economy, which he noted include areas like the development of inland waterways, expansion of port infrastructure, and maritime technology solutions.
The conference had as its theme: “Nigeria’s Maritime/Blue Economy Industry under the Renewed Hope Agenda: What is New?”
Dantsoho, who was represented by the Port Manager, Lagos Port Complex, Adebowale Lawal, described the blue economy as a pivotal driver of sustainable development, disclosing that the government has created an enabling environment for investments through policy reforms, incentives, and partnerships with international organisations.
“The blue economy refers to the sustainable use of ocean resources for economic growth, improved livelihoods, and job creation while preserving the health of ocean ecosystems,” he said.
With Nigeria’s 853-kilometre coastline and extensive inland waterways, the nation is uniquely positioned to harness these resources for economic diversification,” he added.
Dr Dantsoho emphasised the critical role of ports in facilitating the blue economy. According to him, the NPA is at the forefront of advancing the sector by ensuring efficient port operations, adopting eco-friendly technologies, generating significant national revenue, and enhancing maritime security.
The NPA’s strategic focus, he said, aligns with the “Renewed Hope Agenda” to drive growth and sustainability in the maritime sector.
Key sectors of the blue economy identified by the NPA boss include maritime transportation, fisheries and aquaculture, energy resources, tourism and recreation, and seabed mining.
He highlighted the immense potential of these sectors in driving economic diversification and creating opportunities for Nigerians.
He said the growth would be achievable through strategic investments and partnerships that would drive efficiency, sustainability, and innovation in port operations.
To achieve the ambitious goals, he said, the NPA is adopting a multi-pronged funding approach, including increased government budgetary allocations for critical port projects, harnessing Public-Private Partnerships (PPPs) expertise and funding.
Others, he listed, are partnering with development banks and global agencies and channelling revenue generated by ports back into infrastructure and service improvements.
He, however, acknowledged the challenges facing the maritime sector, such as infrastructure deficits, funding inadequacies, and security concerns.
Dantsoho outlined actionable solutions to the challenges, including accelerated investments in port infrastructure, strengthened maritime security through collaborations with global organisations, and policy reforms to attract both foreign and domestic investors.
He further reaffirmed NPA’s commitment to driving the Blue Economy forward and positioning Nigeria as a leading maritime hub in West and Central Africa.
