‘Nigerian seaports to grow container traffic to 10m TEUs in 2040’

The volume of annual container traffic in Nigerian seaports, which currently stands at an estimated 1.4 million, is expected to grow by 614 percent to 10 million twenty-foot equivalent units (TEUs) in 2040, analysts have predicted.

This prediction is on the back of the United Nations forecast that Nigeria’s estimated 170 million population will rise to 289 million following India, China, United States of America and Pakistan in the global ranking.

Statistics show that Nigeria is an import-dependent nation. This is mainly due to the poor growth of the nation’s manufacturing sector. In 2011, container volume stood at 1.4 million TEUs. In 2008, Nigerians imported 82 million metric tonnes of cargo. The volume grew to 93.7 million metric tonnes in 2009 and witnessed tremendous growth to about 100 million metric tonnes of cargo consisting of raw materials, consumable goods and semi-finished goods in 2010.

Figures from a recent Nigerian Maritime Expo (NIMAREX) publication, which also listed the opportunities in the Nigerian maritime industry, projects that Nigeria’s annual container traffic is expected to grow to 10 million TEUs in the next three decades.

Confirming this, Tony Anakebe, managing director, Goldlink Investment Limited, said that Nigeria’s maritime industry, by virtue of the volume of imports recorded annually, qualifies to be the hub for seaborne trade in the West and Central Africa.

He noted that the volume of containerised cargoes that are imported and exported through the nation’s seaport would likely grow above 250 percent if the government creates enabling environment by way of policy while the other players create a user-friendly port for the port users.

By: Amaka Anagor