Blue economy to grow trade by 30% in 2030, says NPA boss

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The Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho has forecasted a 30% increase in trade volume by 2030, the creation of over one million jobs by 2028, and a doubling of the sector’s Gross Domestic Product (GDP) contribution from 1.5% to 3% by 2035.

Dantsoho made these projections while presenting a paper titled “Nigeria’s Blue Economy and Ports Infrastructural Development: The NPA Perspective” at a National Conference organized by the Association of Maritime Journalists of Nigeria (AMJON) at Rockview Hotel, Apapa, Lagos on Thursday. 

He emphasized the significant investment opportunities within Nigeria’s blue economy, including the development of inland waterways, the expansion of port infrastructure, and maritime technology solutions.

The conference, themed “Nigeria’s Maritime/Blue Economy Industry under the Renewed Hope Agenda: What is New?”, focused on the potential of the sector. 

Dantsoho described the blue economy as a crucial driver of sustainable development, noting that the government has fostered an enabling environment for investments through policy reforms, incentives, and partnerships with international organizations.

 “The blue economy refers to the sustainable use of ocean resources for economic growth, improved livelihoods, and job creation while preserving the health of ocean ecosystems. With Nigeria’s 853-kilometer coastline and extensive inland waterways, the nation is uniquely positioned to harness these resources for economic diversification,” he said.

Dr Dantsoho emphasised the critical role of ports in facilitating the blue economy. According to him, the NPA is at the forefront of advancing the sector by ensuring efficient port operations, adopting eco-friendly technologies, generating significant national revenue, and enhancing maritime security.

The NPA’s strategic focus, he said, aligns with the “Renewed Hope Agenda” to drive growth and sustainability in the maritime sector.

Key sectors of the blue economy identified by the NPA boss include maritime transportation, fisheries and aquaculture, energy resources, tourism and recreation, and seabed mining.

He highlighted the immense potential of these sectors in driving economic diversification and creating opportunities for Nigerians.

Dr Dantsoho revealed under the Renewed Hope Agenda, the NPA has embarked on several transformative initiatives including significant investments in port infrastructural development, particularly at Apapa, Tin Can Island, Onne, and Warri ports, complemented by the operationalisation of the Lekki Deep Seaport in 2024 and the ongoing construction of the Badagry Deep Seaport to accommodate Post-Panamax vessels.

These advancements, he noted, are bolstered by strategic public-private partnerships (PPPs) aimed at enhancing infrastructure and streamlining operations.  Also, the sector’s embrace of technology, through initiatives like the Revenue Invoice Management System (RIMS) and the ETO Call-Up System, addresses perennial issues such as congestion, while environmental sustainability measures, including waste management systems, ensure compliance with global standards.

Furthermore, he noted robust capacity-building programmes are equipping port personnel with the skills needed to uphold international best practices, solidifying Nigeria’s position as a critical player in regional and global trade.

“We are committed to ensuring that our ports not only support economic growth but also adhere to sustainability practices that preserve our maritime ecosystem,” Dr. Dantsoho stated.

Acknowledging challenges such as infrastructure deficits, inadequate funding, and security concerns, Dr Dantsoho detailed strategies to address these issues.

“Accelerated infrastructural investments, strengthened maritime security through global partnerships, and policy reforms are key to overcoming these barriers,” he asserted.

Dr Dantsoho concluded with a call for collaboration and innovation in the maritime sector, reassuring of the NPA’s commitment to driving Nigeria’s blue economy forward.

“Together, we can harness the full potential of our maritime sector under the Renewed Hope Agenda, fostering economic growth, job creation, and national development,” he added.