Tinubu’s Maritime Policies Attract Investors as NPA Seeks Funds for New Seaports
- NPA urges global investors to fund Nigeria’s port expansion as cargo volumes rise and existing facilities face capacity pressures
- Managing Director Abubakar Dantsoho says Lekki Deep Sea Port has exhausted its capacity about three years after opening
- Nigeria’s large population drives regional cargo demand, making long-term private investment vital to modernising ports and supporting trade
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Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The Nigerian Ports Authority (NPA) has called on international investors to take advantage of Nigeria’s growing maritime sector, citing rising cargo volumes, infrastructure gaps and investment-friendly policies introduced by President Bola Tinubu.
Managing Director of the NPA, Dr Abubakar Dantsoho, appealed to the World Ports Conference in London, where he outlined opportunities for private investment in seaport development and maritime infrastructure.
Source: UGC
Dantsoho said Nigeria’s expanding population, rapid urbanisation and increasing demand for cargo-handling facilities had created opportunities that the government could not finance alone.
He maintained that the Tinubu administration had introduced policies aimed at attracting and retaining private capital in the maritime industry.
NPA identifies opportunities for global investors
Addressing international maritime investors, Dantsoho said Africa remained an attractive destination for port infrastructure investment, particularly as countries struggled to expand facilities to accommodate larger vessels and growing trade volumes.
According to him, Nigeria's population growth has significantly increased pressure on existing port infrastructure, making private-sector participation essential.
“Nigeria at independence in 1960 had a population of 45 million people. Today, about 60 years later, there are more than 260 million people,” he said.
He explained that the investment required to accommodate the expansion could only be achieved through sustained private-sector funding.
Dantsoho, who also serves as Vice-President of the International Association of Ports and Harbours and Chairman of the Port Management Association of West and Central Africa, said governments across the continent faced similar challenges.
Lekki Deep Sea Port highlights capacity concerns
The NPA boss cited the $1.6 billion Lekki Deep Sea Port in Lagos as an example of the scale of investment required to modernise Nigeria’s maritime infrastructure.
He explained that the facility, developed through Chinese-backed investment, was commissioned about three years ago to improve cargo-handling capacity and accommodate larger vessels.
However, Dantsoho claimed that the port's capacity had already been exhausted, highlighting the need for additional facilities.
“But as of today, just about three years later, the capacity of the new deep-sea port that is Lekki has been exhausted,” he said.
He noted that rising cargo volumes were positive for the authority's revenue prospects but required corresponding investments in infrastructure.
Nigeria's population drives regional cargo demand
Dantsoho also identified Nigeria's large consumer market as a major advantage for investors considering opportunities across West Africa.
He explained that substantial volumes of cargo arriving at ports in neighbouring countries eventually find their way into Nigeria because of its comparatively larger population.
He cited Ghana, Côte d’Ivoire, Togo and Benin Republic as countries whose ports serve regional trade routes connected to the Nigerian market.
According to him, this concentration of demand strengthens the commercial case for expanding Nigeria's port infrastructure.
Source: UGC
Private investment critical to port expansion
The NPA chief stressed that developing deeper seaports and expanding cargo-handling facilities would require substantial capital beyond government budgetary allocations.
He urged investors to consider opportunities in Nigeria and other West African economies, where rising trade volumes are increasing demand for modern maritime facilities.
Dantsoho maintained that attracting long-term private investment would be crucial to improving port efficiency, supporting exports and strengthening Nigeria's position in regional trade.
NPA targets non-oil export growth
Legit.ng earlier reported that the Nigerian Ports Authority (NPA) has outlined a series of measures aimed at removing the obstacles that have long hampered non-oil exports, with a focus on boosting foreign exchange inflows and connecting businesses across Nigeria to global markets.
NPA Managing Director and Chief Executive Officer, Dr. Abubakar Dantsoho, disclosed at the NPA Special Day during the 21st Abuja International Trade Fair, organised by the Abuja Chamber of Commerce and Industry (ACCI) under the theme "Resilient Trade, Taxation, and the Economy."
Source: Legit.ng
