He called for an urgent rethink of Nigeria’s economic structure to fully harness its vast marine resources, declaring, “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.” Highlighting Nigeria’s competitive edge, he noted that the country’s strategic location, large market and economic strength position it to emerge as West Africa’s maritime hub, comparable to established global players 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 said. Despite these advantages, Dantsoho expressed concern over Nigeria’s underperformance in regional cargo handling, revealing that the country currently accounts for only about 25 per cent of cargo traffic in West Africa, despite contributing more than 60 per cent of the region’s GDP.
“This clearly shows that we have not fully optimised our potential,” he stated. He, however, assured investors that a turnaround is underway, driven by far-reaching reforms spearheaded by the Federal Ministry of Marine and Blue Economy. Dantsoho emphasised that private sector participation remains central to achieving these ambitions, noting that the NPA is actively promoting project financing to close infrastructure gaps and boost 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 explained. According to him, the reforms are designed to enhance port efficiency, strengthen connectivity, reduce freight costs and expand Nigeria’s export base.
“The ultimate goal is to improve liner connectivity, attract bigger vessels, reduce freight costs, and expand our export base, which will significantly boost revenue generation,” he added.