Nigeria Reports 25 Percent Export Growth and Port Expansion
The Nigerian Ports Authority reports a 25 percent increase in exports over two years and announces a $1 billion investment to modernize Apapa Port.
Abubakar Dantsoho, Managing Director of the Nigerian Ports Authority, announced that Nigeria's exports grew by more than 25 percent over the last two years. Speaking at the Annual World Ports Conference in London, Dantsoho attributed the increase to Federal Government reforms, the creation of four Export Processing Terminals, and improved collaboration with terminal operators such as APM Terminals. The growth includes oil, gas, manufacturing, and agricultural products like cashew and cocoa.
Beyond export volume, port revenue has quadrupled, and two Nigerian ports now rank among the top 20 in the World Bank's global port rankings. To maintain this growth, the Government of Nigeria plans to invest $1 billion in the expansion and modernization of Apapa Port.
The Nigerian Ports Authority is also pursuing technology partnerships to improve operational efficiency and leverage the African Continental Free Trade Area. These initiatives include a single-window system with a Singaporean firm and a port community system with a company from Abu Dhabi.
