Nigeria is losing about N20bn daily at the ports due to poor infrastructure and inefficiencies. A Sunday report by Olisa Agbakoba, a Senior Advocate of Nigeria, obtained by The PUNCH, stated that most of the revenue is flowing to neighbouring ports, particularly Cotonou, Tema, and Lomé.
Agbakoba, while citing a recent report by Dynanmar, a Dutch consultancy firm, added that in the West and Central Africa region, 80 per cent of containers are destined for Nigeria, “But less than 20 per cent actually arrive because of the decayed infrastructure.”
“In the West and Central Africa region, 80 per cent of containers are destined for Nigeria, but less than 20 per cent actually arrive because of the decayed infrastructure, whether at Lagos, Port Harcourt, or other ports.
“A recent report by Dynanmar, a Dutch consultancy firm, shows that Nigeria loses approximately N20bn daily at the ports due to poor infrastructure and inefficiencies, with most revenue flowing to neighbouring ports, particularly Cotonou, Tema, and Lomé,” he said.
According to him, Nigeria should be a maritime hub like Morocco, which is building one of the biggest seaports to trade effectively with Europe, the Middle East, and North Africa.
Agbakoba, nevertheless, pointed out that Nigeria cannot be a maritime hub if the ports are in a bad state. He mentioned that over 25,000 foreign vessels illegally trade in Nigeria’s coastal waters, representing both a national security challenge and massive economic loss.
He added that the Lekki Deep Seaport has so far demonstrated transformative potential. “Yet the Lekki Deep Sea Port demonstrates the transformative potential; it is already attracting over $20bn in investment and provides a replicable model for port modernization across Nigeria. Imagine what would come if all other ports were operating optimally,” he said.
Agbakoba maintained that the Apapa City Port requires a massive overhaul, adding that strategic ports remain grossly underdeveloped or abandoned. He lamented that the Onitsha River Port lies idle despite its potential to transform inland cargo movement and decongest Lagos ports.
“New ports at Azumiri and Oraji are underdeveloped. Port development projects in Akwa Ibom and Ogun states are commendable, but much more needs to be done,” he stated.
Agbakoba advised that to unlock these opportunities requires enacting the Ports and Inland Waterways Development Act to modernise port operations, “Establish legal backing for public-private partnerships in port development, reform governance of the Nigerian Ports Authority to improve efficiency and competitiveness.”
“Regulate inland waterway transport, ensuring safe navigation and infrastructure investment, and provide incentives for private sector investment in modern port infrastructure and smart port technology,” he said.
He also called for the amendment of the Nigerian Ports Authority Act (1999) to enhance private sector participation through robust PPP frameworks.
Agbakoba also highlighted the need for the amendment of the National Inland Waterways Authority Act (1997) to mandate systematic dredging programmes, establish inland port development frameworks, and enable private sector participation in waterway management.
He emphasised that achieving cargo dwell time of 48 hours or less and port throughput growth of 15 per cent yearly or more are critical performance indicators.
Agbakoba mentioned that the transformative element of the National Policy on Marine and Blue Economy (2025–2034) already contains most of the required legal and institutional reforms.
“The roadmap exists; what is needed is decisive implementation to translate policy into law and law into measurable economic outcomes,” he said.
“This policy paper outlines a comprehensive legislative framework comprising nine new laws to be enacted. The National Policy specifically recommends reviewing the Coastal and Inland Shipping (Cabotage) Act 2003, strengthening institutions for effective enforcement, encouraging inter-agency synergy for implementation, and streamlining access to the Cabotage Vessel Financing Fund,” he stated.
He stressed that while the world focuses on our oil and gas sector, the maritime sector quietly presents opportunities that could rival or exceed petroleum revenues while creating the millions of jobs your policy envisions and establishing Nigeria as a true maritime power.
“The choice before us is clear: allow the policy to remain aspirational or implement bold legal reforms that unlock N70tn in annual revenue, a task requiring vision, political will, and decisive action,” he stated.
A report by the Sea Empowerment Research Centre in October, signed by its Head of Research, Eugene Nweke, stated that by reducing cargo dwell time by 35–45 per cent, logistics and demurrage savings for the private sector are estimated at N300–N400bn annually.
“Overall trade transaction costs could drop by 20–25 per cent, enhancing Nigeria’s global logistics competitiveness index and easing the cost of doing business. Current system inefficiencies are estimated to cost Nigeria N500–N900bn annually in unrealized revenue, administrative duplication, and lost productivity,” Nweke stated.
Nigeria’s ports, particularly Apapa Port and Tincan Island Port in Lagos, which together handle over 70 per cent of the country’s seaborne trade, are critical gateways for economic activity.
However, decades of underinvestment, outdated facilities, weak logistics systems, and institutional inefficiencies have resulted in chronic infrastructure problems. These shortcomings have become major bottlenecks to trade competitiveness, revenue generation, and national economic growth.
