Asianet Pakistan Private Limited

Nigeria’s maritime sector, a critical pillar of its economic blueprint, is currently being stifled not by a lack of vision but by a widening gap between policy and practice.

This was the consensus at BusinessDay’s 2025 Maritime Conference on Tuesday in Lagos, where experienced stakeholders gathered under a single roof to proffer solutions to the maritime industry problems.

Many stressed that the nation’s aspiration to become a global maritime hub is being undermined by three systemic failures: weak implementation of progressive policies, crippling infrastructure deficits and a persistent lack of technological synergy.

Recently, the Ministry of Marine and Blue Economy, led by Adegboyega Oyetola, introduced an ambitious 10-year policy aimed at moving the economy towards global competitiveness, targeting an annual growth target of seven percent and 100,000 new jobs each year.

Experts say that is only the first step and must be supported by action.

Technology and synergy

Nigeria’s ports are suffering from decades-old problems primarily due to old facilities and infrastructure that cannot accommodate present demand or meet current global standards.

One of the goals of the marine policy is to change this narrative. Experts say though the modernisation of port operations hinges on digitalisation, its deployment is constrained by internal friction.

Gbotolorun Ayodele, general manager, ICT at the Nigerian Ports Authority (NPA), noted that for this to work, there must be synergy.

‘Ports need synergy to achieve the required deployment of technology,’ he said, naming the National Single Window (NSW) and the Port Community System (PCS) as the two primary drivers.

The PCS, a digital platform that connects the various public and private stakeholders within the port ecosystem, serves as a foundational component that feeds into the broader NSW, an initiative that creates a single electronic point of entry for all regulatory and trade-related information for imports, exports, and transit goods

Ayodele noted that while initial emphasis was on revenue, ‘the real game changer is if we’re able to implement the port community system and NSW.’ He listed ‘synergy, information sharing, integration and resistance’ as primary challenges that ‘need to be broken,’ alongside ‘monetary and budgetary constraints.’

Congestion, need for rail

Experts warned that without fixing the evacuation infrastructure, digital gains would be meaningless.

Uche Increase, managing Director, NOKIP NIG LTD, cautioned that while Nigeria has progressive policies, the poor infrastructure and a weak policy implementation continue to undermine progress. He noted that without an efficient inland transport system, particularly rail and road connectivity, the country’s ports will remain congested.

‘Infrastructures like rail connectivity are very essential, because for any port to operate optimally, a rail system is critical.’ He urged the federal government to become involved in logistics planning as much as it prioritises urban development.

‘Let us stay away from overconcentration on river ports. Let’s look at the moribund and deep seaports.’ He advised the federal government to open up deep seaports at Abi and Ogun State.

Echefu Ukattah, head, Maritime Practice, Olaniwun Ajayi LP, represented by Oluwafikayo Ogunrinde, also said that infrastructure development must integrate local populations.

‘When local communities are integrated into policy frameworks, it ensures smoother operation of ports,’ he said.

Standardisation, cost predictability

The current state of fragmented practices severely impacts the cost and ease of doing business, stakeholders said.

Kingsley Igwe, registrar, Council for Regulation of Freight Forwarding in Nigeria (CRFFN), pointed out that anything in the supply chain ‘directly affects the cost of things in the market.’

He flagged lack of standardisation, stating that customs services are not uniform across the country.

‘The procedure in the Apapa is not the same at PTML and TinCan,’ he said ‘There is a need to adopt a uniform pricing mechanism that will determine how much would be needed to clear cargo and other logistics costs.’

Igwe advocated for a system that provides predictability. ‘If I am to import 10 container cargoes, I should be able to predict ahead of time how much it will cost, as it is practised in other places of the world.’

Sustainability, safety

Industry players at the conference called for a review of outdated laws to address modern issues such as environmental sustainability and security.

Felicia Mogo, president of the African Marine Environment Sustainability Initiative, noted that Nigeria ‘needs to review maritime policies to meet the current market needs of the sector’ and in alignment with the goals of the International Maritime Organisation (IMO).

She noted decarbonisation as a key sustainability strategy, urging that outdated policies ‘should be modernised to include frameworks that ensure sustainability.’

On security and safety, Sunday Umoren, secretary general, Abuja MoU on Port State Control, disclosed that the major problem of security is ‘raising freight rates.’

Partnerships

The unanimous agreement was that nothing would be possible without collaborative efforts from all stakeholders.

Patricia Igwebuike, commissioner for Transport in Anambra State, stated that her office is also contributing to this effort. ‘Most of the imports into the eastern parts of Nigeria come through Anambra State. We recognise the poor condition of our roads. Everyone must work together to ensure that Onitsha River complements the other ports in Nigeria,’ she explained.

President Bola Ahmed Tinubu has insisted that the painful economic reforms introduced under his administration are beginning to yield results, declaring in his Independence Day broadcast that ‘the worst is over.’

Speaking on Wednesday to mark the nation’s 65th anniversary of independence, the President said the government’s decision to scrap fuel subsidies and unify exchange rates had stabilised the economy, boosted revenue and created a pathway to sustainable growth.

‘Yesterday’s pains are giving way to relief,’ Tinubu told the nation in his third independence address since assuming office in May 2023. ‘I salute your endurance, support and understanding. I will continue to work for you and justify the confidence you reposed in me to steer the ship of our nation to a safe harbour.’

According to him, Nigeria’s economy grew by 4.23 per cent in the second quarter of 2025 – its fastest pace in four years and above International Monetary Fund projections. Inflation has also eased to 20.12 per cent, the lowest level in three years. The President further cited a record surge in non-oil revenue, improved foreign reserves and a booming stock market as signs of renewed investor confidence.

While acknowledging the hardships many Nigerians have faced as a result of rising living costs, Tinubu argued that the reforms were unavoidable. ‘The alternative of allowing our country to descend into economic chaos or bankruptcy was not an option,’ he said.

He pledged that the gains from the reforms would increasingly be felt in households through improved public services, investment in infrastructure, and better support for vulnerable citizens.

‘The accurate measure of our success will not be limited to economic statistics alone,’ he noted, ‘but rather in the food on our families’ tables, the quality of education our children receive, the electricity in our homes, and the security in our communities.’

President Bola Ahmed Tinubu, on Wednesday, October 1st, during Nigeria’s 65th Independence anniversary national broadcast, said his administration has achieved 12 economic milestones in just over two years of sweeping reforms.

The president, who assumed office in May 2023, said his government inherited a near-collapsed economy caused by decades of fiscal policy distortions and misalignment that had impaired real growth.

But he insisted that the ‘painful but necessary decisions’ of subsidy removal, foreign exchange unification, and fiscal tightening have begun to yield measurable gains.

‘Less than three years later, the seeds of those difficult but necessary decisions are bearing fruit,’ Tinubu said. ‘The worst is over, I say. Yesterday’s pains are giving way to relief.’

Here are the 12 economic milestones the president listed in his address.

Record-breaking non-oil revenue

Nigeria attained ‘A record-breaking increase in non-oil revenue, achieving the 2025 target by August, with over ?20 trillion. In September 2025 alone, we raised ?3.65 trillion, 411% higher than the amount raised in May 2023,’ Tinubu said.

Fiscal health restored

The president noted that the debt service-to-revenue ratio, once a staggering 97%, has now dropped ‘to below 50%. He also confirmed that the government has paid down the infamous ‘Ways and Means’ advances that threatened our economic stability and triggered inflation, while savings from subsidy removal have been channelled into education, healthcare, and infrastructure.

Stronger external reserves

‘Our external reserves increased to $42.03 billion this September-the highest since 2019,’ Tinubu announced, describing it as a buffer that has strengthened investor confidence.

Higher tax-to-GDP ratio

The country’s tax-to-GDP ratio rose from under 10% to 13.5%, with a new law expected in January 2026. ‘The tax law is not about increasing the burden on existing taxpayers but about expanding the base. and providing tax relief to low-income earners,’ the president clarified.

Trade surplus achieved

For the first time in years, Nigeria is consistently exporting more than it imports. ‘We have recorded a trade surplus for five consecutive quarters. Nigeria’s trade surplus increased by 44.3% in Q2 2025 to N7.46 trillion ($4.74 billion), the largest in about three years,’ Tinubu stated. Non-oil exports now account for 48% of trade compared to oil’s 52%.

Oil sector recovery

Oil output has climbed back to 1.68 million barrels per day from barely 1 million in May 2023. Nigeria also refined petrol locally for the first time in four decades and became ‘the continent’s leading exporter of aviation fuel.’

Naira stability

After years of volatility, Tinubu said, ‘The Naira has stabilised from the turbulence and volatility witnessed in 2023 and 2024. The gap between the official rate and the unofficial market has reduced substantially, following FX reforms and fresh capital and remittance inflows.’

Social investment for the poor

Under renewed social safety nets, ‘N330 billion has been disbursed to eight million households, many of whom have received either one or two out of the three tranches of N25,000 each,’ the president confirmed.

Solid minerals boom

Coal mining, which had declined by 22% in Q1, surged by 57.5% in Q2 2025, making solid minerals one of Nigeria’s fastest-growing sectors.

Infrastructure expansion

Tinubu said transport infrastructure is expanding rapidly: ‘Rail and water transport grew by over 40% and 27%, respectively. The 284-kilometre Kano-Katsina-Maradi Standard Gauge rail project and the Kaduna-Kano rail line are nearing completion, while the Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway are progressing.’

Improved investor confidence

According to the president, Sovereign credit rating agencies have upgraded their outlook for Nigeria, recognising our improved economic fundamentals. ‘Our stock market is experiencing an unprecedented boom, rising from an all-share index of 55,000 points in May 2023 to 142,000 points as of September 26, 2025,’ he said.

Interest rate cut

Tinubu highlighted a monetary policy shift: ‘At its last MPC meeting, the Central Bank slashed interest rates for the first time in five years, expressing confidence in our country’s macroeconomic stability.’

South Africa has been plunged into shock following the death of Nathi Mthethwa, its ambassador to France, who was found dead in Paris after what French authorities described as a fall from a high-rise hotel.

French daily Le Parisien reported that the 58-year-old diplomat is believed to have jumped from the 22nd floor of the Hyatt Regency Hotel in the French capital. The Paris prosecutor’s office confirmed that Mthethwa’s wife had raised the alarm after receiving a ‘worrying message’ from him on Monday evening, prompting her to report him missing.

A room registered in his name was later found in the hotel. According to investigators, its security window had been forced open. The circumstances of his death remain unclear, and French prosecutors have opened an inquiry. A duty magistrate was dispatched to the scene on Monday night, while the city’s Brigade for the Repression of Personal Crime, part of the judicial police, has taken over the investigation.

Ronald Lamola, South Africa’s foreign minister, described Mthethwa as a ‘distinguished servant of the nation,’ saying his death was not only a personal tragedy but ‘a national loss’ that would be felt within the diplomatic community.

Mthethwa had been appointed ambassador to Paris in December 2023 and also served as South Africa’s permanent delegate to UNESCO. His political career stretched back decades: he chaired parliament’s committee on mines and energy from 2004 to 2008, later becoming police minister, and subsequently sports, arts, and culture minister.

He was a prominent figure within the African National Congress (ANC), the party that brought an end to apartheid under Nelson Mandela in 1994. He was also known as a close ally of former president Jacob Zuma and was implicated in the state capture inquiry, which investigated systemic corruption during Zuma’s administration.

News of his sudden death has rippled through South Africa’s political and diplomatic circles. Mthethwa was widely regarded as a seasoned politician, and while his career was not without controversy, he remained a central figure in the ANC and in government for over two decades.

The details surrounding his final hours remain uncertain. French investigators have yet to confirm whether foul play was involved, stressing that all lines of inquiry remain open.