“Egypt has over 40 seaports, Morocco has about 10, but in Nigeria only two seaports are functioning,” Ngwu stated, pointing to the stark contrast between Nigeria and other African economies in terms of port capacity and efficiency.
He explained that the limited number of operational ports in the country not only restricts trade but also raises costs for businesses, slows down export growth, and negatively affects overall economic performance.
Ngwu noted that while the federal government has implemented major macroeconomic reforms under President Tinubu’s administration, including subsidy removal and foreign exchange unification, infrastructure bottlenecks remain a critical obstacle to converting economic gains into tangible benefits for citizens.
According to him, improving port functionality and expanding trade capacity are essential for industrialization, job creation, and regional economic development.
The professor emphasized that seaport efficiency is not merely about increasing the number of ports but also about investing in proper management, technology, and regulatory frameworks.
He highlighted that strategic planning, including the development of seaports across different regions, could stimulate growth in agriculture, manufacturing, and export-oriented industries, creating employment and fostering inclusive economic development.
Ngwu further stated that without significant attention to infrastructure development, Nigeria risks falling behind regional competitors and undermining the potential benefits of national economic reforms.
He stressed that coordinated efforts between the federal government, state authorities, and private sector stakeholders are critical to ensuring that trade and logistics infrastructure supports sustainable growth and delivers measurable improvements to ordinary Nigerians.
0 Comments