Nigeria’s exports have grown by more than 25 per cent in the past two years because of federal government policies, the Managing Director of the Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho, has said.
Dantsoho spoke at the Annual World Ports Conference in London, organised by the International Association of Ports and Harbours (IAPH).
He said Nigeria’s large population gives it an advantage over its peers in West and Central Africa, while recent reforms have significantly raised cargo throughput.
“Statistically, the exports from Nigeria in the last two years has increased by 25%,” he said. He added that the growth was not limited to oil and gas, but also covered manufacturing and agriculture, including raw materials such as cocoa and cashew.
He credited the increase in volumes to the partnership between the NPA and major terminal operators, including APM Terminals.
Export processing terminals
Dantsoho said the NPA has put measures in place to sustain the growth, which was why it set up Export Processing Terminals.
“We have got about four of those in Nigeria where we collaborate with the terminal operators, with the Nigeria Customs Service (NCS), and other agencies that have a stake,” he said. According to him, this ensures that cargo is processed locally, so that standards-related issues do not arise once goods leave the country.
AfCFTA and regional trade
The NPA boss said Nigeria is now better placed to benefit from the African Continental Free Trade Area (AfCFTA) because of the present administration’s reforms.
“Nigeria’s economy is very strong now because of our president’s reforms, which everyone can testify is attracting investors to the country,” he said, adding that this is helping Nigeria lead other African countries in promoting free and fair intra-African trade.
He cited Nigeria’s exchange of ideas with Morocco, which he said has become a hub for manufacturing electric and other smaller cars.
Port rankings and revenue
Dantsoho said the reforms were also responsible for Nigeria having two ports in the top 20 of the World Bank’s latest global ports ranking.
“This is the result of hard work and efficiency, because we are collaborating efficiently,” he said, adding that the NPA would continue to deepen ties with major players in Morocco and South Africa.
He also said revenue from ports across Nigeria has quadrupled as a result of the reforms, with volumes and earnings rising because of collaboration with partners.
Speaking as President of the Association of Ports in West and Central Africa, he said port efficiency in Nigeria is now better than in other West African countries, based on a shared performance dashboard used to track ports in the region. He noted that ports in Tanzania and Kenya have also improved.
$1bn Apapa expansion
Dantsoho disclosed that the federal government is investing $1 billion to expand and modernise the Apapa ports as part of its medium- to long-term plan.
He said the project requires heavy investment and private sector participation, and that the NPA is working with APM Terminals and other large players with the necessary capital.
The NPA is also developing its technology with partners, he said. About a year ago, it partnered with a Singapore firm to develop the Single Window system, and it is now working with a company from Abu Dhabi on a Port Community System.
“It is not only us partnering with the private sector, there’s also in the private sector, business-to-business relationship,” he added.
READ ALSO:
- I Lived In Chicago For 30 Years, Met Tinubu’s University Classmates – Alausa
- Oyakhilome’s Loveworld Kingdom raises $1m fund for African SMEs
- Dantsoho: Nigeria’s Exports Rise by 25% Under Tinubu’s Reforms
- Otti Charges Nigeria’s Elite To Take Responsibility For Good Governance
- Ogun Central PDP ticket: Court fixes November 19 to hear Amoo’s suit against Iyabo Obasanjo
