Making Nigerian ports competitive

Nigeria's ports are struggling to compete with neighboring Benin, creating a substantial cost disadvantage for importers. Clearing a 20-foot container in Cotonou, Benin, costs between N7–8 million, while the same service in Nigerian ports can range from N14–15 million, sometimes escalating to N25 million in ex-bonded terminals.

The cost difference for a 40-foot container is similarly stark, with Benin charging N13–14 million compared to Nigeria's N19–20 million. These figures mean importers can save N3–4 million per container by choosing to clear their goods through Cotonou, a saving that amounts to a staggering N18 million gap per box.

This significant disparity points to a deep-seated crisis within Nigeria's port operations. The inefficiencies and excessive costs not only deter legitimate trade but also suggest systemic issues that are eating into the economic potential of the nation's maritime infrastructure.