The Managing Director of the Nigerian Ports Authority, NPA, Abubakar Dantsoho, has warned that Nigeria needs fresh investments in deeper seaports and cargo-handling facilities to keep pace with economic growth.
Dantsoho made this known in remarks at an event in London.
His comments come as Nigeria’s rapidly expanding cargo demand puts increasing pressure on existing port infrastructure.
According to him, the exhaustion of the Lekki Deep Sea Port’s capacity barely three years after its commissioning underscores the urgent need for additional maritime infrastructure in Nigeria.
He identified Nigeria’s growing population, rapid urbanisation and infrastructure deficits as major factors driving demand for new port facilities and associated maritime services.
Dantsoho maintained that Africa’s largely untapped maritime potential offers investors considerable opportunities for long-term returns.
He said: “The investment needed in ports to meet this expansion and growth can only happen if the requisite private investment is attracted and retained, which is what President Tinubu has created the enabling atmosphere for.
“In Nigeria, we identified that infrastructure gap, especially in our ports’ development, and we realised that we must do something quickly”, he said.
He added that development presents significant investment opportunities for international investors, particularly as the administration of President Bola Ahmed Tinubu continues to position the maritime sector as an attractive destination for private capital.
His comments come amid controversy surrounding power equipment that has remained idle at the ports for more than 10 years. However, the Minister of Power, Joseph Tegbe, said in a statement on Thursday that the government has begun moving the equipment from the ports.