How FG's Policies Helped Nigeria's Exports Grow by 25% in Two Years

The Managing Director of the Nigerian Ports Authority (NPA), Abubakar Dantsoho, said Nigeria's exports have risen by over 25 percent in the last two years. This growth is due to federal government policies.

He made this statement at the Annual World Ports Conference in London. The event was organized by the International Association of Ports and Harbours (IAPH).

Dantsoho noted that Nigeria's large population gives it a big advantage in West and Central Africa. He mentioned that recent reforms have significantly increased cargo volumes.

He said, "For us in Nigeria, the most important thing is that we are seeing growth as a result of this policy that we are taking. Statistically, the exports from Nigeria in the last two years have increased by 25%. These exports are not only oil and gas; we are also seeing growth in manufacturing and agriculture. Raw materials like cocoa and cashew have seen increased volumes, and this is thanks to our partnership with the major terminal operators like APM Terminals."

Mr Dantsoho added that the NPA is ready to maintain export growth. He explained that they set up the Export Processing Terminal for this reason.

"We have about four of those in Nigeria. We work with terminal operators, the Nigeria Customs Service (NCS), and other agencies. This way, all cargo processing for export is done locally. By the time goods leave Nigeria, there won't be issues with standards," he said.

He stated that Nigeria is now in a better position to benefit from the African Continental Free Trade Agreement (AFCTA) because of the current government's reforms.

"Nigeria's economy is strong now because of our president's reforms. Everyone can see that these reforms are attracting investors. We are leading other African countries to ensure we trade with each other fairly. For example, Nigeria and Morocco exchange ideas since Morocco is a hub for manufacturing electric cars and smaller vehicles," Mr Dantsoho added.

He also mentioned that these reforms helped Nigeria secure two ports in the top 20 of the latest global ports ranking by the World Bank.

The NPA boss said, "This is the result of hard work and efficiency. We are collaborating effectively. We have seen that this approach brings good results. It is focused on results and technology. We will keep strengthening our ties with key players in Morocco and South Africa."

According to him, the reforms have quadrupled revenue from ports across Nigeria.

"We have seen a big increase in cargo volumes and revenue at the ports in Nigeria. This is strictly due to our collaboration with other countries. The efficiency of ports in Nigeria is now far better than in other West African countries.

As the president of the Association of Ports in West and Central Africa, we have the same dashboard to track the performance of other ports in the region. There has also been improvement in ports in Tanzania and Kenya. It feels good to see this collaboration bringing the results we want. We must continue to make progress so we do not let any setbacks slow us down."

He said the federal government plans to invest $1 billion to expand and modernize the Apapa ports for the medium to long term.

"Expanding and modernizing infrastructure requires us to work with private sector partners. We are collaborating with APMT and other major players who have the capital. This project needs a lot of investment. We are also teaming up with partners to develop our technology. For instance, a year ago, we partnered with a firm from Singapore.

We created a simple window system. Currently, we are also working with a company from Abu Dhabi to develop the port community system. This partnership includes not just the private sector but also business-to-business relationships," he said.