NPA Seeks Global Capital for New Seaports as Lekki Capacity Runs Out

The Nigerian Ports Authority has urged international investors to fund new seaports and maritime infrastructure as cargo volumes rise and existing facilities come under pressure. NPA Managing Director Dr Abubakar Dantsoho made the call at the World Ports Conference in London, pointing to policies introduced by President Bola Tinubu’s administration to attract private capital.

Private capital gap

Dantsoho said Nigeria’s expanding population, rapid urbanisation and growing demand for cargo handling had created opportunities the government cannot finance alone. He said the Tinubu administration had introduced policies aimed at attracting and retaining private capital in the maritime industry.

He told international maritime investors that Africa remained an attractive destination for port infrastructure investment as countries struggle to expand facilities for larger vessels and growing trade. He said Nigeria’s population growth had increased pressure on port infrastructure, making private-sector participation essential.

‘Nigeria at independence in 1960 had a population of 45 million people. Today, about 60 years later, there are more than 260 million people,’ he said. He added that the investment needed to accommodate that expansion could only be achieved through sustained private-sector funding.

Dantsoho, who is also Vice-President of the International Association of Ports and Harbours and Chairman of the Port Management Association of West and Central Africa, said governments across the continent face similar challenges.

Lekki capacity already exhausted

He cited the $1.6 billion Lekki Deep Sea Port in Lagos as an example of the scale of investment needed to modernise Nigeria’s maritime infrastructure. The facility, developed through Chinese-backed investment, was commissioned about three years ago to improve cargo-handling capacity and accommodate larger vessels.

Dantsoho said the port’s capacity had already been exhausted. ‘But as of today, just about three years later, the capacity of the new deep-sea port that is Lekki has been exhausted,’ he said.

He noted that rising cargo volumes were positive for the authority’s revenue prospects but required matching investment in infrastructure.

Regional demand and Nigerian businesses

Dantsoho identified Nigeria’s large consumer market as a major advantage for investors considering West Africa. He said substantial cargo arriving at ports in Ghana, Côte d’Ivoire, Togo and Benin Republic eventually finds its way into Nigeria because of its larger population. That concentration of demand, he said, strengthens the commercial case for expanding Nigeria’s port infrastructure.

The NPA chief stressed that developing deeper seaports and expanding cargo-handling facilities would require substantial capital beyond government budgets. He urged investors to consider Nigeria and other West African economies where rising trade volumes are increasing demand for modern maritime facilities. He said attracting long-term private investment would be crucial to improving port efficiency, supporting exports and strengthening Nigeria’s position in regional trade.

For Nigerian businesses, the push points to a simple issue: cargo is growing faster than port capacity. More private capital in ports could ease bottlenecks for importers and exporters, but the Lekki example shows how quickly new capacity can be filled.