Our $1bn Ports Rehabilitation, Other Measures Transforming Nigeria's Blue Economy -NPA

The management of Nigerian Ports Authority (NPA), led by its Managing Director (MD) and Chief Executive Officer (CEO), Dr. Abubakar Dantsoho, has stated that the $ 1 billion reconstruction of Tincan Island Port Complex and the comprehensive rehabilitation of Apapa, Rivers, Onne, Warri and Calabar Port Complexes.

According to the management, the projects was to ensure infrastructural integrity that will bring them up with the contemporary demands of the international maritime ecosystem alongside other measures to expand the Port's capacity through the operationalisation of new Ports and advancement of green port development which has contributed a lot to Nigeria's maritime and blue economy as well as the overall economic development of the nation.

NPA unveils $1bn plan for Snake Island port

It could be recalled that Dantsoho last month led the NPA Management to finalise an agreement for the $ 1 billion development of Snake Island Port to be built on an 85-hectare site within the Snake Island Integrated Free Zone. 

The NPA management further noted that, the projects was in addition to Badagry Deep Seaport, Ondo Deep Seaports and Burutu Ports which are at various stages of progress as well as the Port Community System (PCS) and the National Single Window amongst other initiatives for port competitiveness being aggressively implemented under the technical guidance of the NPA. 

The NPA management added, "Apart from the commencement of actual works on the $ 1 billion ports reconstruction, the Managing Director of the Nigeria Ports Authority, with unalloyed support of the performance-driven Minister of Marine and Blue Economy, Adegboyega Oyetola, has turned the fortunes of the authority around.

Lekki port cargo throughput doubles

NPA said:

"One of the most notable achievements in 2024 was the substantial increase in cargo throughput. Cargo traffic surged by 45.1%, rising from 71,213,197 metric tons in 2023 to 103,336,863 metric tons in 2024. 

This increase reflects heightened trade activities and improved operational efficiencies. Lekki Port stood out as the leader in cargo throughput growth, recording a 2,160.8% increase, followed by Onne Port with a 9.4% rise and Tin Can Island Port with a 7.3% growth. Notably, Liquid Bulk cargo accounted for the largest share at 55.6%, while containerised cargo contributed 20.9%.

"The Nigerian ports also recorded impressive gains in ship traffic. The number of ship calls increased by 5.6%, growing from 3,791 in 2023 to 4,005 in 2024. 

This was accompanied by an even more substantial 15.4% growth in Gross Registered Tonnage (GRT), which climbed from 123,660,278 to 142,660,418 tons. Lekki Port again led the growth trend, registering a 477.6% increase in ship calls, while Onne Port experienced a 5.8% rise.

"The total container throughput also saw a significant 9.7% increase, with 1,744,972 TEUs handled in 2024, compared to 1,591,194 TEUs in 2023,” the authority said. 

Within this category, laden containers grew by 12.2%, with export-laden containers experiencing an outstanding 53.7% rise. Transhipment container traffic saw an even more impressive 136.5% increase, indicating a growing role for Nigerian ports in regional cargo redistribution, NPA stated.

Boat operations increase

The NPA further noted that service boat operations recorded a 49.6% increase in activity during the period, with the number of boats handled growing from 8,956 in 2023 to 13,396 in 2024. 

It added, "Additionally, the Gross Registered Tonnage (GRT) for service boats soared by 129.3%, jumping from 1,997,163 tons to 4,579,742 tons. This reflects enhanced offshore activities and better service infrastructure at the ports. 

The operational efficiency of Nigerian ports also showed improvement. The Average turnaround time for vessels decreased from 4.7 days to 4.6 days, reflecting a 1.0% improvement in port operations. Lekki Port demonstrated the highest efficiency, with an average vessel turnaround time of just 2.5 days.

"Furthermore, Berth Occupancy Rate improved from 30.1% in 2023 to 33% in 2024, signifying increased port utilisation and operational effectiveness".

The management further noted that, Dantosho’s insistence on port efficiencies has culminated in Nigeria’s attainment of trade surplus of N5.81 trillion ($3.7 billion) in third quarter of 2024 as reported by the Nigerian Economic Summit Group (NESG) foreign trade alert through exports predominantly consummated on the platforms of the Nigerian Ports Authority.  

E-Call Up system becomes effective

"Also, the successful implementation of President Bola Ahmed Tinubu’s strategy for the sale of crude and other petroleum products in Naira, which, in addition to saving Billions of FOREX earnings hitherto lost to importation, resulted in guaranteeing national energy security, deepening the balance of trade and creating direct and indirect jobs.

"The authority under Dantsoho has put Public Private Partnership modalities in motion to derive revenue from Ports Independent Power Production, Bunkering Stations, Fallow Lands for Logistics, Fresh Water Provision and Ship Repairs and Maintenance".

According to NPA, other positive measures taken which were yielding positive results include; Port Automation, Electronic Truck Call-Up among others.

Source: Legit.ng