Nigeria needs to almost triple its indigenous shipping fleet to 920 vessels, improve rail links to seaports and reduce cargo dwell time to four days to support its ambition of building a $1 trillion economy by 2030.
Speaking at the national conference of the Network of Nigeria Maritime Journalists, themed, “Seaport Modernisation, Trade Facilitation and Revenue,” Maritime Lawyer, Dr Emeka Akabogu, warned that the country’s growing port investments and trade volumes could fail to deliver the expected economic benefits without urgent reforms to address inadequate shipping capacity, inefficient cargo evacuation and regulatory bottlenecks.
Akabogu said port modernisation must extend beyond physical infrastructure to an integrated logistics system connecting seaports with efficient rail, road and inland transport networks.
He said Nigeria had 307 Nigerian-owned ships in 2025, up from 284 in 2022, but would need approximately 920 to meet the maritime requirements of a $1 trillion economy.
At the current growth rate, the fleet is projected to reach only 348 vessels by 2030, leaving a significant capacity gap, according to figures in his presentation.
Akabogu said expanding indigenous shipping capacity would enable Nigeria to retain more freight earnings currently accruing to foreign shipping interests, while creating opportunities for local investment, employment and maritime services.
He also called for stronger rail connections to ports and inland production centres, arguing that cargo evacuation infrastructure must keep pace with investments in port facilities.
According to him, dependence on road transportation places pressure on port access corridors, increases logistics costs and weakens the competitiveness of Nigerian businesses.
On port efficiency, Akabogu said cargo dwell time in Lagos stood at about 13 days, compared with the four days required to support the country’s long-term economic ambition.
He recommended an interim target of not more than seven days by the end of 2027, supported by coordinated inspections, faster documentation and improved collaboration among regulatory agencies.
He also identified vessel turnaround time as a major operational constraint. His presentation showed that the average increased from five days in the first half of 2025 to 5.3 days in the corresponding period of 2026, against a required target of 3.3 days.
Five of the seven ports assessed recorded slower vessel turnaround during the period, although Rivers and Onne ports recorded improvements.
Akabogu said delays in vessel processing and cargo evacuation reduced port capacity, increased operating costs and undermined the competitiveness of Nigerian seaports.
He described the National Single Window as a critical reform for reducing documentation delays, eliminating duplication and improving coordination among agencies involved in cargo clearance.
The platform, which went live in March 2026, had recorded a 20 to 30 per cent increase in permits, but measurable time and cost savings had yet to be published, according to his presentation.
He called for a strong implementation framework requiring all relevant agencies to integrate their processes and share information through the digital platform. He also advocated an effective Port Community System linking shipping companies, terminal operators, freight forwarders and government agencies.
He said the two platforms should complement each other to improve transparency, reduce administrative bottlenecks and make cargo clearance more predictable.
Akabogu further urged the Nigerian Ports Authority, the Nigeria Customs Service, the Nigeria Revenue Service and other agencies to strengthen collaboration in cargo processing, revenue collection and the elimination of operational gaps.
He said Nigeria was also losing significant economic value through its dependence on foreign transport services, estimating net transport payments abroad at about $4.5bn annually. War-risk insurance premiums, he added, amounted to about $1.5bn over three years.
On export development, he said the maritime sector must support the movement of locally produced goods to international markets rather than remain largely focused on imports.
His presentation put seaborne non-oil exports at 6.1 million tonnes in 2024, highlighting the need to expand volumes through more competitive freight services, efficient port operations and predictable regulations.
Akabogu’s recommendations come amid rising activity at the country’s seaports. Cargo throughput increased from 103.6 million metric tonnes in 2024 to 129.3 million tonnes in 2025, while container traffic rose from 1.745 million to 2.193 million over the same period.
However, he warned that rising volumes alone would not guarantee stronger economic returns without corresponding improvements in port capacity and operational efficiency.
At the current growth rate, cargo throughput is projected to reach about 230 million tonnes by 2030, against an estimated requirement of between 313 million and 442 million tonnes for the $1 trillion economy ambition.
Similarly, container traffic could reach 3.6 million by 2030, compared with a projected requirement of between 5.3 million and 7.5 million.
He also highlighted the disparity between the scale of Nigeria’s foreign trade and revenue generated by the port authority. The presentation put the Nigerian Ports Authority’s audited revenue at N894.86bn in 2024, against foreign trade valued at about N138tn.
Akabogu said Nigeria must capture more value from its maritime trade by strengthening local shipping, improving port services and addressing financial and regulatory constraints facing indigenous operators.
He identified opportunities to expand maritime services around the country’s growing refining capacity, particularly bunkering, but said this would require appropriate infrastructure, supportive regulations and competitive commercial conditions.
The presentation also raised concerns over shipping lines’ continued collection of container deposits despite provisions in Section 203 of the Nigerian Insurance Industry Reform Act 2025 abolishing the practice.
Akabogu cautioned that Nigeria’s ambition of attaining a $1 trillion economy by 2030 was not supported by its present growth trajectory. He argued that maritime reforms must form part of a wider economic strategy involving government agencies, port operators, shipping companies and private-sector investors.
He said expanding indigenous shipping capacity, improving cargo evacuation, reducing port delays, strengthening digital trade platforms and growing non-oil exports were essential to enabling the maritime sector to contribute more meaningfully to national development.
