Nigeria is losing about N20bn every day at its seaports due to poor infrastructure, weak systems, and inefficiencies that frustrate cargo movement and drive business to neighbouring countries. This revelation was made by maritime expert and Senior Advocate of Nigeria, Olisa Agbakoba, in a detailed report released on Sunday. He warned that most of the revenue expected at Nigerian ports is instead flowing to Cotonou Port in Benin Republic, Tema Port in Ghana, and Lomé Port in Togo.
Agbakoba, while referencing a recent analysis by Dynanmar, a Dutch consultancy firm, stated that 80 per cent of all containers headed to West and Central Africa are destined for Nigeria. However, less than 20 per cent actually arrive due to the poor state of the country’s port infrastructure. He explained that key ports such as Apapa Port and Port Harcourt Port have suffered years of neglect, causing shipping companies and importers to route their goods through more efficient ports outside Nigeria.
He said the findings show that Nigeria is losing huge economic value because importers prefer to avoid the delays, congestion, and high charges associated with Nigerian ports. According to him, this shift is one of the major reasons the country continues to record weak performance in global trade competitiveness.
Agbakoba further noted that Nigeria has the capacity to become a maritime hub like Morocco, which is currently building one of the biggest seaports in Africa to facilitate trade with Europe, the Middle East, and North Africa. But he stressed that Nigeria cannot compete globally if its ports remain in a decayed condition.
He also raised concerns over the activities of more than 25,000 foreign vessels allegedly operating illegally in Nigeria’s coastal waters. According to him, these vessels not only create national security threats but also deprive the country of billions in revenue that should come from regulated maritime activities.
Agbakoba pointed out that the Lekki Deep Sea Port offers a clear example of what modern ports can achieve. He said the port has already attracted investments worth over $20bn and could serve as a model for port development across the country if others are upgraded.
He added that several strategic ports remain underutilised or abandoned. The Apapa Port, Nigeria’s busiest port, needs a massive overhaul. The Onitsha River Port, which could help move cargo inland and reduce pressure on Lagos ports, has remained dormant. New port projects in Azumiri, Oraji, Akwa Ibom, and Ogun State exist but are not developing at the pace required to transform the maritime sector.
To unlock the country’s maritime potential, Agbakoba recommended the enactment of the Ports and Inland Waterways Development Act, which he said would modernise operations and establish stronger legal backing for public-private partnerships (PPP) in port development. He called for reforms in the Nigerian Ports Authority (NPA) to improve efficiency, competitiveness, and service delivery.
He also advised the government to amend the Nigerian Ports Authority Act (1999) and the National Inland Waterways Authority Act (1997). These amendments would allow structured dredging programmes, support inland port development, and create opportunities for private sector participation in waterway management.
According to him, Nigeria needs to target a cargo dwell time of 48 hours or less to compete with modern ports globally. He also said port throughput should grow by at least 15 per cent every year to support economic expansion.
Agbakoba referenced the National Policy on Marine and Blue Economy (2025–2034), which contains several of the needed reforms. He said the policy already provides a roadmap that can transform the maritime sector, but implementation has been slow.
He stressed that Nigeria must choose between allowing its maritime ambitions to remain on paper or taking bold steps to unlock the N70tn yearly revenue potential in the maritime sector. He said this would require political will, strong coordination between agencies, and continuous investment in modern port infrastructure and smart technology.
A related report by the Sea Empowerment Research Centre, signed by its Head of Research, Eugene Nweke, showed that reducing cargo dwell time by 35 to 45 per cent could save the private sector between N300bn and N400bn yearly in logistics and demurrage costs. Nweke added that Nigeria currently loses between N500bn and N900bn annually to inefficiencies, administrative duplication, and lost productivity across its port system.
According to him, improving port performance could reduce overall trade transaction costs by as much as 25 per cent. This would improve Nigeria’s ranking on the global logistics competitiveness index and make cross-border trade easier for businesses.
Nigeria’s main ports, including Apapa Port and Tincan Island Port, handle more than 70 per cent of the country’s seaborne trade. However, decades of underinvestment, outdated equipment, limited automation, and weak institutional governance have turned them into bottlenecks that slow economic growth and discourage foreign investment.
Experts continue to warn that unless these issues are addressed urgently, Nigeria will keep losing revenue to neighbouring countries while its maritime sector, which has the potential to generate jobs and rival oil revenues, remains underdeveloped.
