The Nigerian Ports Authority (NPA) has urged local and international investors to increase their investment in Nigeria’s maritime sector following the exhaustion of the handling capacity of Lekki Deep Sea Port, barely three years after it was commissioned.
The Managing Director of the NPA, Dr Abubakar Dantsoho, made the appeal while addressing maritime investors at the ongoing World Ports Conference in London. He identified Nigeria’s growing population, rapid urbanisation and infrastructure shortages as major opportunities for investment in the country’s port industry.
Dantsoho explained that the rising volume of cargo handled at Nigerian ports had created an urgent need for additional infrastructure capable of accommodating larger vessels and handling increasing import and export activities.
He stressed that the government could not independently shoulder the enormous financial burden associated with developing bigger and deeper seaports, making private sector participation essential to expanding port infrastructure.
According to him, Nigeria’s population growth has significantly increased the demand for port services and infrastructure.
He recalled that Nigeria had a population of approximately 45 million at independence in 1960 but now has more than 260 million people, noting that attracting and retaining private investment was necessary to meet the country’s growing maritime needs.
Dantsoho said the government had recognised existing infrastructure gaps and the importance of expanding port facilities to accommodate larger vessels and facilitate increased cargo movement, particularly for exports.
He maintained that port development required substantial capital investment, urging investors to take advantage of opportunities available in Nigeria and other African countries.
The NPA managing director specifically identified Lekki Deep Sea Port in Lagos as evidence of the increasing demand for maritime infrastructure.
He disclosed that the $1.6 billion facility, developed with Chinese government support in partnership with China Harbour, had already exhausted its capacity approximately three years after its commissioning.
Dantsoho said the development demonstrated the urgent need to build additional port facilities to accommodate the growing volume of cargo entering the country.
He also expressed satisfaction with the increase in cargo volumes handled by Nigerian ports, explaining that higher activities would contribute to improved revenue generation for the NPA.
According to him, increased cargo transactions would strengthen the authority’s financial position and create additional value for the maritime industry.
The NPA chief further described Nigeria as the major destination for cargo entering the West African market because of its significantly larger population compared with neighbouring countries.
He cited population figures of approximately 34 million for Ghana, 32 million for Côte d’Ivoire, nine million for Togo and 14 million for the Benin Republic, compared with Nigeria’s population of more than 260 million.
He explained that the population difference makes Nigeria a major market for goods entering the West African subregion, particularly shipments originating from China.
Dantsoho therefore called on international maritime investors to channel more resources into African port infrastructure, stressing that private sector participation would be critical to meeting the continent’s growing shipping and trade requirements.
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