…As Nigeria records N5.81trn trade surplus in Q3 2024 due to port efficiency
Managing Director of Nigerian Ports Authority (NPA, Dr Abubakar Dantsoho, has said the Authority has since commenced the finalisation of documentation and commencement of actual works on the $1billion worth construction of the aged Tincan Island Port Complex and the comprehensive rehabilitation of Apapa, Rivers, Onne, Warri and Calabar Port Complexes to assure their infrastructural integrity.
This, according to him, is in line with the mandate given to the Authority by President Bola Tinubu through the Ministry of Marine and Blue Economy.
Dantsoho who disclosed this at the iconic AMJON annual maritime conference and awards held in Lagos over the weekend, also disclosed that NPA has taken steps towards the port capacity expansion through the operationalisation of new ports and advancement of green port development. “This includes the development of the Snake Island Port in addition to the Badagry Deep Seaport, Ondo Deep Seaport and Burutu Ports which are at various stages of progress under the technical guidance of the Nigerian Ports Authority. Also, the Port Community System (PCS) and the National Single Window have been aggressively implemented,” he said.
The NPA MD further announced that the organization has concluded Nigeria’s membership of the International Port Community System Association (IPCSA) which is a necessary precursor to the implementation of the National Single Window (NSW) project.
On the Electronic Truck – call up – the electronic management of truck traffic which was conceived to sustainably tackle the excruciating traffic gridlock around the Lagos Ports access roads, Dantsoho disclosed that the system has been firmed up through the introduction of satellite truck parks and time belts resulting in significant Ease of Doing Business at the ports.
Export Growth and Trade Surplus
The Managing Director disclosed that his insistence on port efficiencies has culminated in Nigeria’s attainment of a trade surplus of N5.81 trillion ($3.7billion) in Q3 2024 as reported by the Nigerian Economic Summit Group (NESG).
The 2024 Consolidated Management Report of the Nigerian Ports Authority (NPA) highlights significant improvements in Port activities, with multiple indicators pointing to robust growth across various sectors. The Authority, it was disclosed, has experienced remarkable progress from cargo throughput to ship traffic and services boat operations.
One of the most notable achievements in 2024 was the substantial increase in cargo throughput. Cargo traffic surged by 45.1 per cent, rising from 71,213,197 metric tons in 2023 to 103,336,863 metric tons in 2024. This increase reflects heightened trade activities and improved operations efficiencies.
