The Federal Government has intensified efforts to attract international investors into Nigeria’s maritime sector, citing rising cargo volumes, infrastructure gaps and the need to expand port capacity to support the country’s growing economy.
The Nigerian Ports Authority (NPA) is promoting the government’s maritime reforms and investment policies to potential investors at the World Ports Conference in London, where officials are highlighting opportunities for private-sector participation in port development and modernisation.
Managing Director of the NPA, Dr Abubakar Dantsoho, said Nigeria’s large population, rapid urbanisation and expanding commercial activities had created significant demand for improved maritime infrastructure.
He argued that attracting private capital would be essential to building larger and deeper seaports capable of accommodating bigger vessels and handling increased volumes of imports and exports.
Dantsoho, who also serves as vice-president of the International Association of Ports and Harbours (IAPH) and chairman of the Port Management Association of West and Central Africa (PMAWCA), described Africa’s maritime industry as an area with considerable untapped investment potential.
Lekki Port Highlights the Need for Expansion
Citing the Lekki Deep Sea Port in Lagos, Dantsoho said the facility demonstrated both the scale of investment required and the growing demand for port services in Nigeria.
He put the cost of developing the port at approximately $1.6 billion, with funding involving Chinese partners and China Harbour Engineering Company.
According to him, the facility has reached its available capacity within about three years of commissioning, highlighting the urgency of expanding infrastructure to accommodate increasing cargo traffic.
Dantsoho maintained that the government could not independently finance the development of bigger and deeper seaports because such projects require substantial capital and long-term investment.
He therefore urged international investors to explore opportunities in Nigeria and other African markets, particularly in port construction, expansion and associated maritime services.
Nigeria’s Growing Market Attracts Attention
The NPA chief pointed to Nigeria’s population, which he said had grown from about 45 million at independence in 1960 to more than 260 million, as a major driver of demand for maritime infrastructure.
He also noted that Nigeria receives a significant share of cargo entering the West African market, partly because of its large consumer base.
Neighbouring countries, including Ghana, Côte d’Ivoire, Togo and Benin Republic, also present opportunities for regional port development, he said.
Dantsoho stressed that additional infrastructure would help Nigeria receive larger vessels, improve cargo handling and increase its capacity to move export goods efficiently.
He added that growing cargo volumes could strengthen the NPA’s revenue base while supporting wider economic activity.
Government Seeks Private-Sector Partnership
The Federal Government has presented its maritime policies as part of efforts to create a more attractive environment for international investment.
However, the scale of the country’s infrastructure needs means that public funding alone is unlikely to meet the demand for modern port facilities.
Greater private-sector participation is therefore expected to play a significant role in future port expansion, with investment potentially extending beyond new seaports to logistics, cargo-handling systems and related maritime infrastructure.
The conference provides an opportunity for Nigeria to showcase its market potential and engage investors, although securing lasting commitments will depend on translating investment opportunities into viable projects.
For Nigeria, the challenge will be to turn growing cargo demand into expanded port capacity, more efficient operations and stronger competitiveness in international trade.
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