NPA Predicts 30% Trade Growth by 2030 To Boost Nation Blue Economy
By Raheem Ibrahim
The Managing Director of the Nigerian Ports Authority (NPA), Abubakar Dantsoho has predicted a 30 per cent growth in trade volume by 2030 on the rapid rate of actualising Blue Economy for the country.
He predicted that maritime sector has the potential to generate over one million jobs by 2028 and double its contribution to the gross domestic product (GDP) from 1.5 per cent to three per cent by 2035.
Speaking at the 2024 edition of the Association of Maritime Journalists of Nigeria (AMJON) conference and awards, noting the ongoing improvements in port infrastructure.
While unveiled a strategic plan aimed at revolutionising the country’s maritime sector, projecting significant trade growth, job creation and economic contributions in the coming years, Dantsoho explained that the growth would be achievable through strategic investments and partnerships that would drive efficiency, sustainability and innovation in port operations.
The NPA MD who was represented by the Port Manager, Lagos Port Complex, Adebowale Ibrahim revealed that to achieve the ambitious goals, the NPA is adopting a multi-pronged funding approach, including increased government budgetary allocations for critical port projects, harnessing Public-Private Partnerships (PPPs) expertise and funding.
He stressed that partnering with development banks and global agencies and channelling revenue generated by ports back into infrastructure and service improvements are among ways to actualize the move.
While acknowledging the challenges facing the maritime sector, such as infrastructure deficits, funding inadequacies and security concerns, which he noted solutions to it to include, accelerated investments in port infrastructure, strengthened maritime security through collaborations with global organisations and policy reforms to attract both foreign and domestic investors.
He further reaffirmed NPA’s commitment to driving the Blue Economy forward and positioning Nigeria as a leading maritime hub in West and Central Africa.
