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Nigeria Maritime Stakeholders Push Bold Reform Drive

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Nigeria maritime reform drive gains momentum as stakeholders call for efficiency, stronger logistics systems and blue economy investment to boost trade

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Maritime experts, policymakers and industry stakeholders on Wednesday in Enugu renewed calls for a stronger Nigeria maritime reform drive, urging improved port efficiency, streamlined logistics systems and increased investment in the blue economy to reduce business costs and expand export capacity.

Also read: Nigeria Promotes Strong Sustainable Blue Economy Growth Plan

The discussions formed part of the 3rd International Conference organised by the Institute of Maritime Studies, University of Nigeria, Enugu Campus, themed “From Global Maritime Regulations to Tangible Actions: Driving Sustainable Operations in the African Maritime Sector.”

The gathering brought together academics, regulators, development partners and private sector actors to examine how maritime policies can be translated into measurable economic gains, particularly for Nigeria and other emerging markets.

Stakeholders warned that inefficiencies within Nigeria’s maritime and logistics systems continue to impose significant costs on businesses, weakening competitiveness in manufacturing, agriculture and export-driven sectors.

Speaking at the event, the Managing Director of the South East Development Commission, Mark Okoye II, said logistics costs in Nigeria can account for up to 40 per cent of the final price of goods, significantly eroding productivity and market competitiveness.

He noted that port dwell times remain far above global standards, creating delays that disrupt supply chains and increase operational costs across multiple sectors.

Okoye stressed that improving connectivity between production hubs and export routes would deliver broader economic benefits than focusing solely on port infrastructure.

He also highlighted the agricultural sector’s limited export contribution despite its employment strength, attributing this gap to weak logistics systems and infrastructure deficiencies.

According to him, post-harvest losses of up to 50 per cent in some value chains reflect structural inefficiencies that require urgent investment in cold storage and transport networks.

Participants further noted that Nigeria’s blue economy, valued globally in the trillions of dollars, remains underdeveloped despite its potential in fisheries, inland waterways and marine-linked industries.

They argued that better utilisation of these resources could reduce reliance on imports, improve food security and create new employment opportunities.

Academic leaders at the conference also emphasised the need to translate maritime regulations into practical outcomes, warning that policy frameworks alone are insufficient without effective implementation.

The Vice-Chancellor of the University of Nigeria, Nsukka, called for stronger alignment between global standards and local realities, urging stakeholders to prioritise enforcement, innovation and environmental compliance.

Director of the Institute, Professor Florence Orabueze, described the conference as a bridge between theory and practice, stressing that sustainable maritime development depends on collaboration between academia, government and industry.

She noted that the institute has expanded its academic offerings across maritime law, logistics, engineering and blue economy studies to produce graduates equipped for real-world sector challenges.

Also read: Nigeria Leads Regional Fight Against Illegal Fishing

Participants collectively agreed that coordinated reforms, investment in infrastructure and stronger policy execution are essential to unlocking Nigeria’s maritime potential and driving long-term economic growth.

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AICL Woos Ugandan Investors, Invites Them to ABIE 2027

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AICL asked Ugandan investors Nigeria to use Abuja as an entry point and to attend ABIE 2027, as officials from both countries pushed AfCFTA trade links

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Tinubu to Open Niger Delta Economic Summit in Port Harcourt

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Tinubu Niger Delta summit opens in Port Harcourt as investors and policymakers gather to drive investment, innovation and industrial growth

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Dangote Refinery Sets ₦525 Share Price for Landmark IPO

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Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.

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The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.

The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.

The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.

The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.

The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.

The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.

The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.

The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.

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