Nigeria Risks Losing Regional Trade Edge Without Deep Seaports  – Stakeholders Warn

Nigeria may lose its dominance in regional trade if it fails to urgently develop deep seaports, industry stakeholders have cautioned.

The warning was issued by former Heads of State, maritime administrators, government officials, and industry players at the maiden International Deep Seaport Investment Forum (IDSIF) held in Lagos.

Former President Goodluck Jonathan said the country risks economic setbacks and marginalisation in global shipping if it does not modernise its port infrastructure. He noted that without deep seaports, large vessels could bypass Nigeria entirely, forcing the country to depend on neighbouring ports for cargo handling and transshipment.

Jonathan, however, acknowledged ongoing interest in deep seaport projects, including the Ibom Deep Seaport in Akwa Ibom and the Agge Deep Seaport in Bayelsa. He called for stronger collaboration among government, private investors, and international partners, particularly from the Middle East, to drive sustainable development in the sector. He also stressed the need to integrate financial institutions into maritime investment strategies.

Managing Director of the Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho, said Nigeria currently accounts for over 60 per cent of West Africa’s GDP but handles only about 25 per cent of the region’s cargo throughput. Represented by NPA’s General Manager of Corporate and Strategic Communications, Ikechukwu Onyemekara, he described the shift from ageing ports to modern deep seaports as an economic necessity.

Dantsoho identified key investment opportunities in areas such as hinterland connectivity, digital integration, green energy, and project financing models. He added that the African Continental Free Trade Area (AfCFTA) is expected to boost cargo volumes, enhance export trade, and position Nigeria to compete with regional hubs like Lomé and Abidjan.

He further noted the need to diversify revenue through logistics, warehousing, and distribution services, while adopting global standards seen in ports like Rotterdam and Tangier Med. According to him, new deep seaports should function as primary hubs, with existing ports serving as feeder terminals.

Minister of Marine and Blue Economy, Adegboyega Oyetola, represented by NPA’s General Manager of Corporate and Strategic Planning, Seyi Iyawe, reiterated the Federal Government’s commitment to green and automated port systems. He emphasised the importance of efficient cargo evacuation through improved transportation and digital systems.

Former Managing Director of the Niger Delta Development Commission (NDDC), Timi Alaibe, called for alignment with global maritime standards, especially within the Gulf of Guinea. He said sustained investment is critical to securing trade routes and boosting investor confidence, highlighting global operators such as DP World and Abu Dhabi Ports as models for success.

Convener of the forum and CEO of Maritime Media Limited, Asu Beks, noted that despite Nigeria’s 853-kilometre coastline and existing port infrastructure, many facilities have become less competitive due to the global shift towards larger vessels requiring deeper drafts.

He urged stakeholders to support ongoing reforms aimed at revitalising the country’s port industry to maintain its position in regional and global maritime trade.