Inflow of International Capital Reinforces Global Confidence in NPA’s Hub Status – Dantsoho
The Managing Director of Nigerian Ports Authority, Dr Abubakar Dantsoho has described the inflow of international capital into Nigeria for port rehabilitation and development as a mark of confidence in the country’s maritime hub status position in West and Central Africa
Speaking at the just concluded Seminar for Judges organised by the Nigerian Shippers Council (NSC) , Dr. Dantsoho said under the leadership of Adegboyega Oyetola, Nigeria has recorded significant strides in maritime development for sustainable economic growth.
Dantsoho stated that for the capital to be sustained, it must be protected by a robust judicial framework that exemplifies knowledge in the workings of the country’s marine and blue economy ecosystem.
The NPA MD added that the authority stands ready as a committed partner with all arms of government including the judiciary as it consistently modernise ports infrastructure, automate it’s systems and equip it’s human capital for sustainable national economic development.
He stated further that NPA is ready to provide data and other necessary support within the ambit of the law to aid quick administration of maritime justice
NPA secured a landmark US$1 billion financing facility to rehabilitate and modernise two of Nigeria’s most critical maritime gateways — the Lagos Port Complex ,Apapa) and Tin Can Island Port Complex — marking a decisive step in positioning the country as the leading maritime trade hub in West and Central Africa.
The facility, arranged by Citi with cover from UK Export Finance (UKEF) and reinsurance by Poland’s export credit agency KUKE, was signed on 19 March 2026 in London during the state visit of President Bola Tinubu to the United Kingdom. Legal advisory was provided by Nigerian law firm TEMPLARS
This transaction represents UKEF’s first large-scale infrastructure financing in Nigeria in nearly a decade and one of the largest export credit agency-supported buyer credit facilities in West Africa. It underscores growing international confidence in Nigeria’s economic reforms and port sector.
The financing forms a core component of the NPA’s ongoing $1 billion seaport reconstruction programme under Managing Director Dr. Abubakar Dantsoho. The programme covers comprehensive rehabilitation of Apapa, Tin Can Island, Calabar, Warri, and Port Harcourt/Onne port complexes within a 48-month timeline.
Works have already commenced on the aged Tin Can Island Port Complex, with similar upgrades planned across other facilities to restore infrastructural integrity, expand vessel capacity, reduce congestion, and align operations with global standards.
British Steel will supply 120,000 tonnes of steel billets under a related £70 million contract as part of the modernisation drive.
The funding boost coincides with Dr. Dantsoho’s historic election as the first Nigerian Chairman (President) of the Port Management Association of West and Central Africa (PMAWCA) — a position no Nigerian has held since the association’s founding in 1972. The election took place during the 44th annual council meeting in Conakry, Guinea.
In his acceptance speech, Dantsoho reaffirmed Nigeria’s commitment to port rehabilitation, digitisation, automation, and efficiency improvements to boost non-oil exports and regional trade. He announced plans to relocate the PMAWCA headquarters to Lagos for greater visibility and impact.
Minister of Marine and Blue Economy, Adegboyega Oyetola, described the recognition as evidence of Nigeria’s efforts to turn around the port economy and reclaim its maritime relevance, leveraging the country’s strategic coastline to serve as a key hub for Africa’s blue economy.
Recent performance data reinforces the hub trajectory. Cargo throughput rose 45.1% from 71.2 million metric tonnes in 2023 to 103.3 million metric tonnes in 2024. Container throughput increased 9.7% to 1.74 million TEUs, with transhipment cargo surging 136.5%. Ship calls grew 5.6%, while average vessel turnaround time improved to 4.6 days.
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