Blue Economy
FG Clears Five Deep Seaports for Investment in Bold Push to Recapture Nigeria’s Stolen Cargo
FG Clears Five Deep Seaports for Investment in Bold Push to Recapture Nigeria’s Stolen Cargo
NPA Boss Confirms Approvals, Certifications and Compliance Processes Completed for Badagry, Olokola, Ibom, Bakassi and Bonny Projects as Nigeria Bleeds Over $3.5bn Annually to Neighbouring Ports
By Okeoghene Onoriobe | Waterways News Correspondent | Lagos
The Federal Government of Nigeria has completed the approvals, certifications and regulatory compliance processes for five proposed deep seaport projects spread across the country’s coastline, in a determined effort to reclaim more than 70 per cent of Nigerian-bound cargo currently being handled by ports in neighbouring West African nations.
The Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, confirmed the development at the close of a three-day meeting of Managing Directors of the Port Management Association of West and Central Africa (PMAWCA), Member Ports and the Port Statisticians Network held in Lagos. Dantsoho, who also serves as President of PMAWCA, disclosed that the five cleared projects are the Badagry Deep Sea Port in Lagos State, Olokola Deep Sea Port in Ondo State, Ibom Deep Sea Port in Akwa Ibom State, Bakassi Deep Sea Port in Cross River State, and Bonny Deep Sea Port in Rivers State.
Dantsoho noted that while investor negotiations remain ongoing given the enormous financial commitments such projects demand, the government has already laid the regulatory and administrative groundwork necessary for implementation. “In terms of approvals, certifications and compliance issues, we have taken care of five different deep-sea ports in Nigeria,” he stated.
The Five Projects at a Glance
The five cleared seaport projects represent a multi-billion dollar infrastructure programme spanning Nigeria’s southern coastline from west to east:
Badagry Deep Sea Port — Lagos State: Estimated to cost $2.59 billion, the Badagry project has received FEC approval and is projected to create approximately 250,000 jobs and attract significant foreign direct investment. It is expected to generate a total of $53.6 billion in revenue over a 45-year concession period. The project is structured in four phases under a Build, Own, Operate and Transfer (BOOT) Public-Private Partnership model and is designed as a full-scale greenfield commercial deep seaport conceived to augment Nigeria’s existing port capacity and open new trade facilitation channels.
Olokola Deep Sea Port — Ondo State: President Tinubu has granted approval for the immediate take-off of the Olokola Deep Seaport in Ogun Waterside Local Government Area, to be developed as the Blue Marine Economic Zone within the Olokola Free Trade Zone, approximately 100 kilometres from Lagos. Dangote Group has commenced development of the 10,000-hectare facility, with its backers positioning it as a key gateway for Nigerian exports and imports and a boost to the country’s competitiveness in regional and global trade.
Ibom Deep Sea Port — Akwa Ibom State: Designed for very large vessels, the Ibom Deep Sea Port is conceived as a transshipment port from which smaller vessels will redistribute cargo from mother vessels to river ports closer to consignees within Nigeria and in neighbouring countries. The project, valued at $4.6 billion, previously received Federal Executive Council approval of $2.016 billion in 2020.
Bakassi Deep Sea Port — Cross River State: The Bakassi Deep Seaport has received its Certificate of Compliance following Federal Executive Council approval. The Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Mr. Jobson Ewalefoh, described it as a game-changer for Nigeria’s maritime and logistics ecosystem that would serve as a new maritime gateway for the country’s North-Central and North-East regions, while positioning Nigeria as a major logistics hub for West and Central Africa. Cross River State Governor Senator Bassey Otu described the milestone as historic, stressing that the state is strategically positioned to play a leading role in Nigeria’s maritime development.
Bonny Deep Sea Port — Rivers State: The Bonny Deep Sea Port is a greenfield development project sited at the southwest tip of Bonny Island, approximately 1.4 kilometres from the Nigerian Liquefied Natural Gas (NLNG) facility, and is to be developed in two phases at an estimated total cost of $2 billion. Phase one includes two 8,000 TEU container berths, a general purpose berth and an oil service berth.
The Bleeding Wound: Nigeria’s Cargo Haemorrhage
The push to fast-track these projects comes against a backdrop of staggering economic losses driven by the chronic inefficiency of Nigeria’s existing port infrastructure. Annually, no fewer than $3.5 billion worth of Nigerian-bound cargoes are diverted to neighbouring ports, with the Nigerian Shippers’ Council estimating that 75 per cent of goods handled at neighbouring ports are actually intended for Nigeria.
Maritime expert and Senior Advocate of Nigeria, Olisa Agbakoba, citing analysis by Dutch consultancy firm Dynanmar, has warned that while 80 per cent of all containers headed to West and Central Africa are destined for Nigeria, less than 20 per cent actually arrive through Nigerian ports. The remainder flows to Cotonou in Benin Republic, Tema in Ghana, and Lomé in Togo.
The financial cost of this failure is enormous. Nigeria loses approximately N20 billion every day at its seaports due to poor infrastructure and the inefficiencies that frustrate cargo movement. PwC Nigeria estimates that port inefficiencies cost the economy N2.5 trillion annually in lost revenue, while the Lagos Chamber of Commerce and Industry puts business losses from delays and port-related expenses alone at approximately $10 billion every year.
A fresh warning has come from the Sea Empowerment Research Centre (SEREC), whose April 2026 policy advisory painted a troubling picture of the first quarter of the year. The report noted that cargo dwell time has exceeded 15 days on average, while vessel turnaround ranges between four and six days — far above global best practices. It also recorded a decline of between 8 and 12 per cent in non-oil exports, signalling a gradual loss of competitiveness in Nigeria’s export sector. SEREC warned that ports along the Cotonou–Lomé corridor are increasingly attracting Nigerian-bound cargo due to lower costs, faster clearance times, and more predictable regulatory environments, and that between 15 and 25 per cent of Nigeria-bound cargo could shift to these neighbouring ports within the next 12 to 24 months if reforms are not urgently implemented.
Reform Momentum and What Comes Next
Despite the gravity of the cargo diversion problem, there are signs of momentum. The NPA’s 2025 Operational Performance Report showed that total cargo throughput surged by 24.8 per cent, rising from approximately 103.6 million metric tonnes in 2024 to over 129.3 million metric tonnes — one of the most significant annual increases in Nigeria’s maritime history.
Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, told the PMAWCA mid-year session that the Tinubu administration is also upgrading existing seaports through infrastructure modernisation, digital transformation, and channel deepening projects aimed at accommodating larger vessels, and that coordinated reforms and stronger collaboration among government agencies have contributed to improved cargo evacuation, reduced vessel waiting time, and a more predictable business environment for port users and investors.
The minister also pointed to the National Single Window initiative as a key reform expected to streamline cargo clearance through digital integration of port operations and government agencies.
Nigeria Watch
The regulatory clearance of all five deep seaport projects is an important milestone, but the shipping and logistics community must read it with clear eyes. The compliance certificates and FEC approvals represent the beginning of a process, not the end of one. As The Guardian reported in December 2025, several of these same projects have stalled for years — even decades — due to investor fatigue and a financing gap that analysts estimate at over $14 billion.
The critical variable is not regulatory paperwork but committed private capital. With each deep seaport costing a minimum of $2 billion to develop and global shipping lines demanding hinterland connectivity guarantees before committing vessel calls, Nigeria’s port expansion ambitions will stand or fall on its ability to close the investment gap. Freight forwarders, terminal operators, and shipping agents operating out of Apapa and Tin Can Island should watch closely for investor announcements, concession agreements, and ground-breaking timelines — those will be the true indicators of whether this latest push translates into operational infrastructure or joins the long list of announced-but-undelivered port projects that have defined Nigeria’s maritime story for the past two decades.
Oyetola Woos Turkish Investors for Fisheries Sector, Vows to Protect Artisanal Fishers
By Okeoghene Onoriobe | Waterways News
The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, has thrown Nigeria’s fisheries sector open to Turkish investment, insisting that any fresh capital coming into the industry must strengthen and not sideline the millions of Nigerians who depend on artisanal fishing for a living.
Oyetola made the pledge while receiving a delegation from Turkish fisheries and aquaculture firm CRD Impex, led by the company’s General Manager for Fisheries, Cem Tarhan, at his Abuja office. He told the investors the Federal Government was ready to create an investment-friendly climate for credible local and foreign players willing to bring capital, technology and modern value-chain solutions to the sector, on condition that such investment remains inclusive.
“We welcome investors who can bring capital, technology, expertise and modern value-chain solutions to the sector. However, investment must be inclusive and sustainable. It must complement and empower our artisanal fish producers, not undermine their livelihoods,” the Minister said
He listed inadequate infrastructure, poor access to modern fishing technology, weak cold-chain systems, limited processing and storage capacity, and gaps in market access as the major constraints holding back the sector, framing each as an opening for targeted investment rather than a dead end.
The Turkish team, which included CRD Impex founder Hanefi Cardak and Tetra Underwater Services founder Ersun Buyukgoze, toured key fisheries and aquaculture points around the country to size up the terrain first-hand. Stops included the Kirikiri Lighter Terminal in Lagos, the Ozumba Mbadiwe Fish Market in Lekki, and the Esuk Nsidung Beach Market, a major waterfront seafood hub in Calabar, Cross River State.
The Ministry described the visit as part of a broader push to attract serious investment into Nigeria’s blue economy while keeping the welfare of artisanal fishers central to that growth.
Nigeria Watch
The Turkish courtesy call lands squarely in the pattern this desk has tracked all year: big-ticket investment pledges for Nigeria’s waterways, paired with familiar assurances that the small operator won’t be crowded out. The test, as always, is what happens after the photo-op.
Nigeria’s artisanal fishing communities occupy the same economic space as the informal boat operators represented by WABOTAN and ATBOWATON, river- and creek-dependent Nigerians whose livelihoods rise or fall on decisions made far from the waterfront. The infrastructure gaps Oyetola cited which include, weak cold-chain systems, poor storage and limited market access, all mirror the exact complaints this desk has documented from inland waterway operators for years but modernisation announced from Abuja rarely reache the jetties.
Turkish capital chasing Nigerian fisheries and aquaculture is a genuinely new thread, distinct from the Strait of Hormuz shipping story or the CVFF disbursement saga this desk has followed closely. But the underlying question is the same one that has defined Oyetola’s tenure at the Ministry of Marine and Blue Economy: will “inclusive investment” translate into contracts, cooperative partnerships and cold-chain infrastructure that artisanal operators can actually use or will it, like so many blue-economy pledges before it, stall at the courtesy-visit stage?
Waterways News will be watching for the first concrete CRD Impex commitment — site, timeline, or local partnership — as the marker of whether this one is different.
NPERA, NPA Open Technical Talks on Handover of Inland Dry Port Functions
By Ighoyota Onaibre | Waterways News
The Nigerian Ports Economic Regulatory Agency (NPERA) and the Nigerian Ports Authority (NPA) have begun formal engagement on transferring inland dry port oversight to NPERA, marking the start of what both agencies describe as a critical phase in operationalising Nigeria’s new port regulatory framework.
At a management-level meeting between the two agencies, officials focused on the technical groundwork for the handover, chiefly how to draw clear lines of responsibility and avoid duplication among the government bodies with a stake in inland dry port administration.
NPERA’s Director-General/CEO, Dr Akutah Pius, framed the transition as flowing directly from the Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, whom he credited with steering the process toward the sector’s broader development. Akutah was emphatic that NPERA could not carry out the transfer alone, and said the buy-in of every relevant stakeholder agency would be needed to see it through.
He indicated that the Ministry would stay central to coordinating the process even as specific mandates move to the agencies best placed to execute them. Akutah also pointed to the Minister’s earlier interventions during the NPERA Bill’s passage through the National Assembly, which he said had defused inter-agency friction and set the stage for the cooperation now underway.
Describing the purpose of the meeting, Akutah said it was meant to formally kick off the transfer of inland dry port responsibilities to NPERA in fulfilment of its statutory role as economic regulator of the ports sector. He singled out Section 51 of the NPERA Act as a provision that now needs to be put into practical effect to keep the transition orderly and ensure stakeholder roles are properly aligned.
To manage the process going forward, the NPERA boss proposed setting up a joint committee drawing in NPERA, NPA, the National Inland Waterways Authority (NIWA), and the Federal Ministry of Marine and Blue Economy. He argued that inland dry ports matter well beyond the coastline. They extend maritime sector benefits into Nigeria’s hinterland and reinforce the country’s trade and logistics chain.
Responding on behalf of NPA, Managing Director Dr Abubakar Dantsoho welcomed the move and pledged his agency’s full operational and technical backing throughout the transition. He said the process had started on the right footing, and that NPA would furnish updated data on the current state of inland dry ports to inform further discussions, expressing confidence that continued engagement would help the agencies meet their shared objectives.
NPA’s Executive Director, Engr. Lekan Badmus, also commended NPERA for setting the collaboration in motion, calling the meeting a solid first step toward a smooth integration. He noted the two agencies have now moved into the technical phase of the exercise, with close attention being paid to eliminating overlapping functions.
Closing the meeting, Akutah said the proposed joint committee would reconvene with the Minister to seek further guidance and agree on next steps to keep the transition on track.
Nigeria Watch
This meeting is the first visible test of whether the NPERA Act’s promise of a rationalised port regulatory architecture can survive contact with Nigeria’s crowded agency landscape. Section 51’s transfer of inland dry port functions to NPERA looks straightforward on paper; in practice, it touches NPA’s traditional port administration turf, NIWA’s inland waterways mandate, and the Ministry’s coordinating role all at once, precisely the kind of overlapping jurisdiction that has bedevilled reform efforts elsewhere in the sector, most visibly in the long-running NIWA-LASWA tussle that only the Supreme Court could settle.
The proposed joint committee of NPERA, NPA, NIWA, and the Ministry, is a sensible mechanism, but Waterways News readers who have followed the CVFF disbursement saga know that Nigerian maritime governance has no shortage of well-designed committees whose outputs never quite reach implementation. What will matter is whether Akutah’s “technical phase” produces a binding timeline, not another round of goodwill statements.
For inland dry port operators and the hinterland trade corridors that depend on them, the stakes are practical: unclear jurisdiction between NPA and NPERA has historically meant slower cargo evacuation, duplicated levies, and uncertainty for freight forwarders planning routes away from the congested Lagos ports. If this transition is handled well, it strengthens the case for dry ports as genuine pressure valves for Apapa and Tin Can. If it stalls in inter-agency turf negotiation, it becomes one more entry in the gap between policy pronouncement and delivery that this desk continues to track.
Worth watching: whether Minister Oyetola’s office sets an explicit deadline when the committee reconvenes, and whether NIWA, whose inland waterways mandate intersects with dry port hinterland connectivity, gets more than a seat at the table.
Two More Tankers Struck in Strait of Hormuz as Attack Count Hits Five in a Week
By Okeoghene Onoriobe | Waterways News
Two more tankers have been hit while transiting the Strait of Hormuz, leaving two seafarers with minor injuries and pushing the number of reported attacks or security incidents against commercial vessels in the waterway to at least five since 16 September.
The UK Maritime Trade Operations (UKMTO) centre said an inbound tanker was struck by an unidentified projectile on Monday. Two crew members sustained minor injuries, but the vessel stayed under its own power and continued to its next port, with no environmental impact reported.
Hours later, UKMTO issued a second alert after an outbound LPG tanker reported being struck by debris from unknown projectiles. All crew were reported safe and the vessel also continued its voyage. Authorities are investigating both incidents, and UKMTO has not attributed either attack to a specific actor.
The two strikes build on a Joint Maritime Information Center (JMIC) advisory covering three earlier attacks between 16 and 18 September, one of which saw a tanker’s hull breached by a projectile, sparking a fire. JMIC continues to rate the threat level in the strait as “severe,” citing a high likelihood of deliberate hostile action and pointing to a pattern of harassment by Iran’s Islamic Revolutionary Guard Corps — drone overflights, surveillance of merchant vessels and VHF hailing, alongside the direct attacks.
Traffic through the chokepoint remains sharply depressed. Only 17 commodity vessels were visibly transiting over the weekend, down from 37 the week before and against a pre-war daily average of roughly 125. That figure excludes vessels sailing with their AIS transponders switched off, and JMIC notes a persistent gap between visible and actual traffic.
Nigeria Watch
For Nigerian maritime stakeholders, the Hormuz crisis is no longer a distant Gulf story. It is a cost line. Every fresh escalation feeds directly into the war-risk insurance premiums and freight rates that Nigerian importers, refiners and shipping agents ultimately absorb, since global tanker and container capacity pulled off the Hormuz route tightens supply elsewhere and pushes rates up across long-haul trades, including those serving West African ports.
The renewed attacks also sharpen the stakes around Nigeria’s push for a stronger voice at the IMO Council table and its broader blue-economy diplomacy under Minister Adegboyega Oyetola. A sustained Gulf disruption is exactly the kind of systemic shock that tests whether Nigeria’s seat translates into influence over how global shipping risk, insurance and rerouting decisions are made, rather than Nigeria simply absorbing the downstream cost.
Locally, the episode is a reminder of the layered nature of “maritime security” as a policy word: the Deep Blue Project and Gulf of Guinea security architecture address piracy and armed robbery close to home, but Nigeria’s ports and shippers remain exposed to security failures thousands of kilometres away in the Gulf.
Waterways News will continue tracking how the Hormuz situation feeds into freight cost pressure at Nigerian ports and NIMASA’s public messaging on the issue.
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