NPA Eyes Double-Digit Cargo, Revenue Growth with BUA’s $85m Port Expansion Investment

The Nigerian Ports Authority (NPA) anticipates significant growth in cargo throughput and revenue, projecting double-digit increases after BUA Group's $85 million investment in expanding its port and terminal facilities in Port Harcourt. NPA Managing Director, Dr. Abubakar Dantsoho, stated that this investment represents a major boost for trade and the development of Nigeria's eastern ports. Dantsoho highlighted that the expansion will lead to increased cargo volumes, generate more revenue for the country, and strengthen the competitiveness of Nigerian ports. He emphasized the NPA's commitment to collaborating with investors to enhance port efficiency and maximize economic value. "You know, we need Nigeria to, in the port system, to be like more generic," Dantsoho said, noting BUA's significant investments in Lagos and now Port Harcourt. "So, in that way, our volumes will increase... And by so doing, now we are going to make more value. That is money from those transactions. And that is what the government is expecting of us." The NPA boss also commended President Bola Tinubu for fostering closer collaboration between the authority and private sector investors. "I’m happy that he has mentioned his thanks and appreciation and gratitude to Mr. President for allowing us as management and encouraging us to also collaborate with stakeholders like him and other ones, so that we can make Nigerian Port Authority a greater stakeholder in West Africa and Africa in general," Dantsoho stated. Regarding the expected impact, Dantsoho projected substantial growth in cargo traffic and earnings. "We expect to have more volumes. Once you have volumes, then you have more value, then more dollars and more naira will come. And that is what is required," he said. He further estimated that this development could lead to a 13-14% increase in port activity, which he described as "a very fantastic thing to happen," noting that a 16% increase is considered normal globally. Dantsoho also pointed to recent improvements in global port rankings, citing recognition from S&P and the World Bank for Tin Can and Apapa ports as among the 20 most improved globally.

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He’s a major stakeholder for many years. And what he’s doing for us is something that is naturally expected of us to put together, to collaborate with them, the major stakeholders, and even the smallest stakeholders, and especially expanding in the eastern ports.