The Nigerian Shippers’ Council (NSC) has moved to deepen collaboration with financial institutions to unlock funding, bridge infrastructure gaps, and strengthen the maritime sector’s contribution to Nigeria’s ambition of building a $1 trillion economy by 2030.
The Executive Secretary and Chief Executive Officer of the Council, Dr. Pius Akutah, MON, stated this when officials of Providus Unity Bank paid a courtesy visit to the Council’s headquarters in Lagos.
Dr. Akutah stressed the Council’s statutory role as the Port Economic Regulator, emphasizing its responsibility to promote efficiency, competitiveness, and ease of doing business across Nigeria’s port and maritime sector.
He noted that the maritime industry remains the backbone of the nation’s trade, accounting for about 90% of Nigeria’s international trade activities and playing a vital role in economic growth.
“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 helped prevent over $90 billion in capital flight arising from excessive cargo-related charges, highlighting the impact of effective port economic regulation.
While acknowledging Nigeria’s significant infrastructure assets, Dr. Akutah observed that the sector still faces financing and capacity challenges, stressing the need for partnerships that combine access to capital with technical expertise.
“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 said the Council would create a platform for sustained engagement with Providus Unity Bank to explore practical areas of collaboration that would support investment and growth within the maritime sector.
Earlier, the Head of Business Development at Providus Unity Bank, Mr. Ernest Elue, said the visit sought to explore strategic collaboration with the Nigerian Shippers’ Council and other stakeholders in the maritime ecosystem.
He expressed the bank’s readiness to provide financial support for capital-intensive maritime projects, including Inland Dry Ports and Vehicle Transit Areas, through tailored financing solutions for project concessionaires.
Mr. Elue added that the bank is committed to designing flexible financial products that will meet the needs of corporate organisations as well as individual members of unions and cooperatives operating within the maritime value chain.
The proposed partnership is expected to deepen access to finance for critical maritime infrastructure, support small and medium-scale enterprises, and enhance the sector’s capacity to contribute more significantly to national economic development.
