By ebosele@hotmail.com –
The Nigerian Shippers’ Council (NSC) has intensified efforts to strengthen collaboration with financial institutions to unlock funding for critical maritime infrastructure, bridge financing gaps and enhance the sector’s contribution to Nigeria’s target of building a $1 trillion economy by 2030.
The Executive Secretary and Chief Executive Officer of the Council, Dr. Pius Akutah, MON, made this known while receiving a delegation from Providus Unity Bank on a courtesy visit to the Council’s headquarters in Lagos.
Dr. Akutah reaffirmed the Council’s statutory role as Nigeria’s Port Economic Regulator, noting that the NSC is committed to promoting efficiency, competitiveness and ease of doing business across the nation’s ports and maritime sector.
He described the maritime industry as the backbone of Nigeria’s international trade, accounting for about 90 per cent of the country’s trade activities and serving as a major driver of economic growth.
According to him, the Council has a presidential mandate to collaborate with all sectors of the economy to support the Federal Government’s vision of achieving a $1 trillion economy by 2030.
“We have a Presidential mandate to work with all sectors of the economy to ensure that by 2030 we achieve the Trillion Dollar goal. Without the ports, there will be no sector of the economy,” he said.
The NSC boss disclosed that the Council’s regulatory interventions over the past two years have prevented more than $90 billion in capital flight resulting from excessive cargo-related charges, underscoring the importance of effective port economic regulation.
He noted that although Nigeria possesses significant maritime infrastructure assets, financing constraints and capacity gaps continue to hinder the sector’s full potential, making strategic partnerships with financial institutions imperative.
Dr. Akutah explained that the Council is prepared to facilitate stronger relationships between banks, importers, exporters and small and medium-scale enterprises (SMEs) to improve access to finance and stimulate economic growth.
“We are looking for partners. The SMEs are a very crucial component. We are ready to broker relationships between banks and importers, exporters, and SMEs who have potential to grow the economy,” he added.
He further disclosed that the Council would establish a platform for continuous engagement with Providus Unity Bank to identify and develop practical areas of collaboration that would encourage investment and drive sustainable growth in the maritime sector.
Earlier, the Head of Business Development at Providus Unity Bank, Mr. Ernest Elue, said the visit was aimed at exploring strategic partnership opportunities with the Nigerian Shippers’ Council and other stakeholders within the maritime industry.
He expressed the bank’s willingness to provide tailored financing solutions for capital-intensive maritime projects, including Inland Dry Ports and Vehicle Transit Areas, particularly for project concessionaires.
According to Elue, the bank also plans to develop flexible financial products that will address the needs of corporate organisations as well as individual members of unions and cooperatives operating across the maritime value chain.
The proposed collaboration is expected to improve access to finance for critical maritime infrastructure projects, strengthen support for SMEs and enhance the capacity of the maritime sector to make a greater contribution to Nigeria’s economic development and the achievement of the country’s $1 trillion economy target by 2030.
