The country’s port system is being repositioned as the engine room of a new blue economy strategy aimed at unlocking investment, boosting trade competitiveness and reversing its underperformance in regional cargo traffic, the Nigerian Ports Authority (NPA) has said.

Speaking at the Blue Economy Investment Summit in Abuja, Managing Director of the authority, Dr. Abubakar Dantsoho, declared that ongoing reforms and increasing private sector participation are positioning Nigeria at the forefront of Africa’s blue economy growth, with ports expected to play a central role in driving the shift.

Dantsoho, however, highlighted a critical imbalance that underscores the urgency of reform: Nigeria currently handles only about 25 per cent of West Africa’s cargo traffic despite accounting for more than 60 per cent of the region’s Gross Domestic Product (GDP).

“This clearly shows that we have not fully optimised our potential,” he said.

He stressed that the Federal Government’s reform agenda, being driven through the Ministry of Marine and Blue Economy, is designed to reverse this trend by modernising port infrastructure, improving efficiency and aligning operations with global maritime standards.

“The time has come for a paradigm shift in the structure of Nigeria’s economy towards the full utilisation of our marine resources. Our port system, if properly harnessed, can serve as a major driver of economic growth,” Dantsoho said.

The NPA boss positioned the reform programme as a strategic play to attract investment and deepen Nigeria’s competitiveness in global shipping. Key initiatives include port modernisation, deployment of a Trade Single Window, implementation of a Port Community System, development of deep seaports and full digitalisation of port operations.

“This is to reposition our ports for global competitiveness,” he added.

He emphasised that private capital will be critical to bridging infrastructure gaps, noting that the authority is actively promoting project financing models to accelerate delivery and improve operational efficiency.

“We are open to private sector participation through project financing. This approach is already improving efficiency and providing access to funding for critical infrastructure,” Dantsoho said.

According to him, the reforms are expected to deliver measurable commercial outcomes across the maritime value chain, including improved liner connectivity, the attraction of larger vessels, reduced freight costs and expansion of Nigeria’s non-oil export base.

“The ultimate goal is to improve liner connectivity, attract bigger vessels, reduce freight costs, and expand our export base, which will significantly boost revenue generation.

“Competitiveness in the global maritime industry requires efficient operations, competitive pricing and strong hinterland connectivity.

“Nigerian ports must remain adaptive to evolving global shipping trends. With sustained commitment to these initiatives, Nigeria’s port system will enter a new phase and emerge as a leading maritime logistics hub in Africa,” he said.

Dantsoho also pointed to Nigeria’s inherent structural advantages, including its strategic geographic position, large domestic market and economic scale, as factors that could support its ambition to become a regional maritime hub comparable to established global centres.

“By virtue of our strategic location, market size and economic strength, Nigeria is well-positioned to function as the maritime hub for West Africa,” he said.

In his remarks, the Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, reinforced the investment case for the sector, citing the country’s expansive coastline and inland waterways network as key assets.

He noted that Nigeria’s more than 823-kilometre coastline and its location along the Gulf of Guinea provide a natural advantage for maritime trade and logistics, while recent reforms have strengthened institutional coordination, enhanced maritime security and boosted investor confidence.

Oyetola added that the maritime sector already accounts for over 90 per cent of Nigeria’s international trade by volume, underscoring its central role in the country’s economic architecture and the urgency of fully unlocking its blue economy potential.

• Shareholders approve N500b Rights Issue

Dangote Sugar Refinery Plc has posted a turnover of N829.2 billion for its financial year ended 2025. The firm also received shareholders’ approval for a N500 billion Rights Issue, thus positioning the company to strengthen its financial standing, expand its capital base, and accelerate strategic initiatives. The Rights Issue, the shareholders reasoned will aid the Company in its ambitious backward integration projects.
The approval was given at the Company’s 20th Annual General Meeting held yesterday in Lagos during which the shareholders commended Dangote Sugar’s robust performance over the past year, underscoring their support for the organization’s ongoing evolution and future plans.
Addressing shareholders, Dangote Sugar Chairman, Arnold Ekpe, remarked that the year under review saw a marked improvement in performance, despite a challenging economic environment, noting that revenue growth and enhanced EBITDA demonstrate positive operational momentum. However, profitability was weighed down by a foreign exchange loss of N46.7 billion and additional finance costs totaling N128.6 billion.
The Group, he said, posted a turnover of N829.2 billion, a 25 per cent increase over 2024 adding “the loss for the year improved to N64.1 billion from N270.9 billion in the prior year, while EBITDA rose to N149.6 billion, up from N43.0 billion.”
Despite these hurdles, Ekpe assured shareholders that decisive actions are underway to boost operational efficiency and revenue growth. “With shareholder backing for the rights issue, we are in a strong position to bolster our balance sheet, setting the stage for future growth and profitability,” he said.
The Chairman emphasised the significance of the backward integration programme themed, “Sugar for Nigeria” as a cornerstone of the company’s strategic vision.
“This initiative is expected to drive profitability and value creation, reduce import dependency, mitigate foreign exchange risks, generate employment, and support local farmers through the out grower scheme.
“Our objective is to produce 1.5 million metric tonnes of sugar annually from domestically cultivated sugarcane. This involves developing approximately 45,000 hectares, with 2.7 million tonnes of cane earmarked for Numan and 3.35 million tonnes for Nasarawa. Achieving this goal requires substantial investments in land development and production capacity over the next five years,” Ekpe stated.
Looking forward, he affirmed the company’s commitment to sustainable growth, positive impact, and enhanced profitability, saying that “we will continue optimizing our operations, pursuing market expansion opportunities, and increasing our presence across the nation. Aligned with the Dangote Group’s Vision 2030, we are dedicated to investing in our workforce and technology to consistently deliver exceptional products and customer satisfaction.”
The Group Managing Director and CEO of Dangote Sugar, Thabo Mabe, added that Dangote Sugar remains the sole producer of edible refined granulated white vitamin A fortified sugar, sourced from its backward integration site at Numan.
He mentioned that the company is diligently working to secure approximately $1.3 billion needed to fulfill its commitment to achieving a production target of at least 600,000 tonnes annually by 2030.
“We have revised our strategic development plan to meet the 2030 objectives, leveraging the combined potential of DSR Numan Operation and Nasarawa Sugar Company Limited estates. This integrated plan targets substantial cane production of around 6.05 million tonnes across 45,000 hectares from both sites.”
Speaking at the AGM, a shareholder, Mrs. Bisi Bakare, commended Dangote Sugar Refinery for having the largest Sugarcane Outgrowers scheme in Nigeria, describing the scheme as a great boost to backward integration and domestic economy. she also praised the board and management for navigating the company through the harsh operating business environment.

Determined to continually improve transparency and efficiency in the country’s power grid through enhanced reporting of Regional Transmission Loss Factors (TLF), the Nigerian Electricity Regulatory Commission (NERC) has issued Order No. NERC/2026/026, which reduces the regional TLC operated by the Transmission Company of Nigeria (TCN) from 7.24 per cent in 2025 to align with the seven per cent benchmark under the Multi-Year Tariff Order (MYTO), with a further target of lowering it further to 6.5 per cent by December 2026.

The directive was contained in a public notice accompanying the Commission’s Order on reporting regional electricity transmission loss factors dated April 9, 2026.

Data from the Nigerian Independent System Operator (NISO) showed the national average TLF declined from 8.71 per cent in 2024 to 7.24 per cent in 2025, which still remains above the seven per cent multi year tariff order (MYTO) benchmark, prompting the establishment of a formal reporting framework effective yesterday under the Electricity Act 2023.

The Commission also issued directives for NISO to install smart meters at regional boundaries, measure and document transformer energy flows and file quarterly reports. The TCN is also expected to submit a loss-reduction action plan later in July and ensure compliance with a 6.5 per cent cap by year-end.

“NISO to file quarterly reports on TLF to NERC on a regional basis TCN to ensure that TLF across transmission regions shall not exceed 6.5% by December 2026,” NERC said in the statement.