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Nigeria is losing substantial trade and port revenue to neighbouring West African countries as its maritime infrastructure continues to deteriorate, Senior Advocate of Nigeria Olisa Agbakoba has warned.
Despite boasting one of the longest coastlines in the sub-region, Nigeria’s ports are struggling to compete with modern facilities in Cotonou, Tema and Lomé, resulting in significant daily revenue leakages and a shift in trade traffic away from its shores.
According to Agbakoba, the country is currently losing an estimated N20 billion (US$13 million) per day due to inefficiencies that have made its ports less attractive to shippers.
“In the West and Central Africa region, 80 per cent of containers are destined for Nigeria, but less than 20 per cent actually arrive because of the decayed infrastructure, whether at Lagos, Port Harcourt, or other ports,” he stated.
“A recent report by Dynanmar, a Dutch consultancy firm, shows that Nigeria loses approximately N20bn daily at the ports due to poor infrastructure and inefficiencies, with most revenue flowing to neighbouring ports, particularly Cotonou, Tema, and Lomé,” he added.
Agbakoba further disclosed that more than 25,000 foreign vessels involved in illicit trade operate in Nigeria’s coastal waters — a development he described as a serious national security concern with far-reaching financial implications.
Nigeria’s vast coastline, measuring approximately 853 kilometres, far exceeds those of Ghana (560km), Benin (121km) and Togo (56km). Yet, the benefits of this geographical advantage are slipping away due to long-standing neglect of port infrastructure.
Africa’s richest man, Aliko Dangote, has also highlighted the systemic challenges. In July, he explained that the cost of lifting refined fuel from his own Lekki-based refinery was higher for oil marketers than sourcing products from offshore terminals in Togo.
“In terms of port charges, it is currently more expensive to load a domestic cargo of petroleum products from the Dangote Refinery, as customers pay both at the point of loading and the point of discharge,” Dangote said.
He attributed the situation to multiple domestic fees that are absent when importing fuel through offshore facilities such as the Lomé Floating Storage Terminal.
Agbakoba noted that Nigeria’s port capacity should rival that of Morocco, which is developing one of Africa’s most advanced deep-water ports to strengthen trade links with Europe, the Middle East and North Africa.
He commended the Lekki Deep Sea Port, describing it as evidence of what efficient port investment can achieve.
“Yet the Lekki Deep Sea Port demonstrates the transformative potential; it is already attracting over $20bn in investment and provides a replicable model for port modernization across Nigeria. Imagine what would come if all other ports were operating optimally,” he said.
Several of Nigeria’s key maritime assets remain undeveloped or underutilised. Agbakoba pointed to the deteriorating Apapa City Port in Lagos and the stalled potential of the Onitsha River Port, which he said could significantly ease congestion and boost inland trade if activated.
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