By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Nigerian Ports Authority Secures 15% Tariff Increase After 30 Years, Sparks Debate
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Nigerian Ports Authority Secures 15% Tariff Increase After 30 Years, Sparks Debate

Genesis Obong
By Genesis Obong
Published: February 7, 2025
Share
4 Min Read
Ports Authority Tariff Increase
SHARE

The Nigerian Ports Authority (NPA) has finally secured approvals to increase its tariffs by 15 percent, the first such adjustment in a staggering 30 years. This landmark decision, while necessary for the long-term health of the nation’s maritime sector, has ignited a heated debate among stakeholders.

For decades, Nigeria’s ports have grappled with the twin burdens of ageing infrastructure and obsolete equipment, severely hampering their competitiveness on the global stage. The lack of significant investment in port modernisation has resulted in slow expansion, leading to chronic congestion and delays that cripple trade and add significant costs to the Nigerian economy. Recognising the urgent need for a turnaround, the NPA has moved to address these critical issues through this much-needed tariff adjustment.

“This tariff review will serve as the crucial funding mechanism for a comprehensive overhaul of our port infrastructure,” declared Abubakar Dantsoho, the managing director of the NPA. “We envision a future where our ports are equipped with cutting-edge technology, including a robust Information and Communications Technology (ICT) backbone to underpin the Port Community System (PCS) and National Single Window (NSW). These digital advancements are essential for streamlining port operations, reducing delays, and enhancing efficiency.”

Read Also: New National Flag Carrier on the Horizon

- Advertisement -

The increased revenue stream will also be directed towards vital maintenance projects, such as the critical reconstruction of the Escravos Breakwaters and much-needed upgrades at key ports like Rivers, Onne, and Calabar. These investments are critical for ensuring the safety and navigability of our waterways, a cornerstone of any thriving maritime nation.

While the need for a tariff increase is widely acknowledged – with inflation currently hovering at a staggering 34.8 percent, operational costs have skyrocketed – stakeholders have expressed varying perspectives on the magnitude and potential impact of this adjustment.

Joshua Asanga, a former general manager at the NPA, emphasised the critical need for significant investments in port infrastructure. “We must modernise our tugboats, upgrade our ICT systems, and streamline our operations,” Asanga stated. “Without these improvements, our ports will continue to lag behind regional competitors, further eroding Nigeria’s position in global trade.”

Another key stakeholder echoed these sentiments, urging the NPA to prioritise investments in critical infrastructure such as the Kirikiri Lighter Terminal. “Efficient cargo handling is paramount for a competitive port system,” the stakeholder emphasised. “Investing in modern jetties and improving cargo handling facilities will significantly enhance the overall efficiency of our ports.”

- Advertisement -

It’s important to remember that port authorities around the world rely heavily on operational revenue to fund essential services. These revenues are crucial for sustaining critical infrastructure, dredging waterways, maintaining vital navigation aids, procuring essential marine craft, implementing automation technologies, and ensuring robust port security.

Despite the widespread perception that Nigerian port tariffs are exorbitant, industry experts argue that this is far from the truth. In reality, Nigerian port tariffs remain among the lowest in the region. However, the lack of efficiency in port operations, exacerbated by bureaucratic bottlenecks and the absence of a fully functional PCS, significantly inflates the overall cost of doing business in Nigerian ports.

This tariff increase presents a unique opportunity for the NPA to break free from the shackles of inefficiency and embark on a path of modernisation and transformation. By investing wisely in critical infrastructure and leveraging technology to streamline operations, Nigeria can unlock the full potential of its maritime sector, driving economic growth and creating a more prosperous future for its people.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:LogisticsMaritimeNigerian PortsNPAPort ModernizationTariff Increase
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByGenesis Obong
Follow:
Genesis Obong is a Journalist with relevant experience in Business, Finance and Economic matters in Nigeria and across the West African space.
Previous Article Nigeria Per Capita Income IMF Nigeria’s Per Capita Income Plummets Again, Exacerbating Poverty Crisis
Next Article No Abolition of Junior and Senior Secondary Schools Yet, Education Minister Clarifies

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Okay.ng Logo

Parallel Market Rates

USD
Buy₦1,550.00
Sell₦1,565.00
GBP
Buy₦1,760.00
Sell₦1,790.00
EUR
Buy₦2,135.00
Sell₦2,170.00

Updated: 2 days ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

0.00
ShareShareShare

Rates are for informational purposes only.

Okay.ng Logo Parallel Market Rates
USD
Buy
Sell
GBP
Buy
Sell
EUR
Buy
Sell
| okay.ng
- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Ezenwo Nyesom Wike
Wike Accuses Opposition Leaders of Self-Interest, Questions Their Commitment to Nigerians
Politics Top stories
Workers’ Unrest Looms as Nigeria Faces Economic and Security Crisis — NLC Issues Stark Warning
News
Rising Star Gonzalo Garcia Shares Top Scorer Spotlight at FIFA Club World Cup
Sport
Security Measures Heightened in Oyo State as Neo-Black Movement Prepares for Annual Founders’ Day
Security
Atiku Abubakar
Atiku Abubakar Pledges to Combat Electoral Fraud, Promises Socioeconomic Renewal Through ADC in 2027 Polls
Politics
- Advertisement -
Ad imageAd image

You May Also Like

InternationalTop stories

Nigeria and Brazil Forge Stronger Agricultural Ties to Boost Food Security

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 6, 2025
News

Anglican Bishop of Warri Raises Alarm Over Nigeria’s Spiraling Insecurity and Calls for Urgent Government Action

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 6, 2025
Politics

Nigeria’s 2027 Political Landscape: ADC Emerges as a Potent Challenger to APC Amid PDP’s Decline

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 6, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?