In pursuit of the ambitious target set by President Bola Tinubu to achieve a $1 trillion economy by 2026, the Federal Government has identified the Marine and Blue Economy Ministry as a crucial player in this economic growth plan. Mr. Pius Akuta, the Executive Secretary/Chief Executive Officer of the Nigerian Shippers’ Council (NSC), revealed this during a recent visit to the Tincan Island Container Terminal Ltd. in Lagos.
Akuta emphasized that the government has finalized plans to develop policy documents aimed at enhancing port efficiency. The President’s New Hope Agenda aims to elevate Nigeria’s economy from $500 billion to $1 trillion by 2026, requiring concerted efforts and structural changes, including the establishment of the Marine and Blue Economy Ministry.
According to Akuta, the ministry is actively engaged in addressing sector challenges by collaborating with stakeholders, and a comprehensive policy is on the horizon to ensure port efficiency. Stakeholders’ input is deemed essential, and achieving efficiency will have a positive impact on tariff structures and turnaround times, benefiting the entire supply chain.
Highlighting the significance of automation, Akuta stressed its pivotal role in enhancing port efficiency and reducing gridlock on port corridors. He expressed his concern for achieving the International Cargo Tracking Note, a priority for the presidency, which aims to streamline cargo clearance processes and further enhance port efficiency.
The Managing Director/CEO of Tincan Island Container Terminal Ltd., Mr. Etienne Rocher, underscored the critical role of rehabilitating and modernizing Lagos ports in attracting shipping lines and making Nigeria competitive in West and Central Africa. He identified poor access roads as a major obstacle hindering ease of doing business, leading to congestion and a reduction in the number of containers handled by the terminal.
Rocher called attention to the secondary nature of rail and barge alternatives, emphasizing that roads still dominate cargo movement, constituting about 97% of consignments. He expressed concern over the prolonged resolution of access road issues, noting the stark contrast between quick clearance during presidential visits and the decade-long delay in permanent resolution.
