Nigeria is a leading maritime country with enormous natural maritime resources and a major
hub for local and international trade. The maritime sector is cardinal to Nigeria’s economy
contributing significantly to the Gross Domestic Product (GDP).
In recent years, the sector has been witnessing a lot of reforms which help to position it to
achieve efficiency, growth and development. These reforms include the liberalisation and
deregulation of the sector and other policy and regulatory initiatives such as the shipping policy
and the Coastal and Inland Shipping (Cabotage) Act. These reforms have been aimed at
increasing the level of activities in the sector thus throwing up opportunities for private
investment in all areas of the sector including port infrastructure, terminal facilities, vessel
financing, haulage, packaging and other logistics services.
Investment in the provision of port infrastructure and terminal facilities for container operations is
available for private interest such as Leasing, Build-Operate-and-Own (BOO), Build-Operate-and-Transfer (BOT) in different segments of the port sector. Generally, Nigerian ports lack modern cargo handling plants and equipment, infrastructure and service facilities. Investment in the provision of these operational and service facilities are essential and therefore constitute viable investment options.
Apart from terminal operations, another area of investment is in the fleet acquisition. Vessels
represent a major segment of assets in the sector where tanker and cargo vessels are very
popular. It has been estimated that a minimum of 20 vessels will be needed in each port as
take-off to efficiently improve the trans-shipment of import and export in the next few years.
Other assets that are required in the sector include; cranes, reach stackers, haulage vehicles,
heavy duty handling equipment, forklifts etc. our research has confirmed that, on a monthly
basis, thousands of units of trucks will be needed for distribution of goods from ports to their
final destinations across the country.
The Nigerian Inland Waterways Authority(NIWA) have been making a clarion call to private
investors/individuals to invest in badges for conveyance of goods to reduce the huge traffic and
congestion on our roads and reduce turn-around-time(TAT) for delivery of goods since the
Nigerian water ways are mostly free due to non-activity.