By Sandra Chukwunyere
The Nigerian Shippers’ Council (NSC) has intensified efforts to attract financial investments into the maritime sector, seeking strategic collaboration with Providus Unity Bank to fund critical port infrastructure and support Nigeria’s ambition of building a $1 trillion economy by 2030.
Executive Secretary and Chief Executive Officer of the Council, Dr. Pius Akutah, disclosed this during a courtesy visit by officials of Providus Unity Bank to the Council’s headquarters in Lagos.
Speaking during the meeting, Akutah emphasized the Council’s role as the nation’s Port Economic Regulator, noting that its mandate includes promoting efficiency, competitiveness and ease of doing business across the port and maritime industry.
According to him, the maritime sector remains the backbone of Nigeria’s international trade, accounting for about 90 per cent of the country’s imports and exports and serving as a major driver of economic activities.
He stressed that the Federal Government’s vision of attaining a $1 trillion economy by 2030 cannot be achieved without a vibrant and efficient maritime sector.
“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,” Akutah stated.
The NSC boss revealed that the Council’s regulatory interventions over the past two years have helped save the nation from losing over $90 billion through excessive cargo-related charges, underscoring the importance of effective economic regulation in the port industry.
While acknowledging Nigeria’s vast maritime assets and opportunities, he pointed out that infrastructure deficits and limited access to finance remain major challenges confronting the sector.
Akutah therefore called for stronger partnerships between financial institutions and maritime stakeholders to unlock investments, stimulate trade and create opportunities for businesses operating within the industry.
He noted that small and medium-scale enterprises (SMEs) play a critical role in economic growth and assured that the Council is willing to facilitate partnerships between banks, importers, exporters and other operators in the maritime value chain.
“We are looking for partners. SMEs are a very crucial component. We are ready to broker relationships between banks and importers, exporters and SMEs who have the potential to grow the economy,” he added.
The Executive Secretary further disclosed that the Council would establish a platform for sustained engagement with Providus Unity Bank to identify practical areas of cooperation capable of driving investment and development within the maritime sector.
Earlier, the Head of Business Development at Providus Unity Bank, Mr. Ernest Elue, said the visit was aimed at exploring opportunities for strategic collaboration with the Nigerian Shippers’ Council and other stakeholders in the maritime ecosystem.
Elue expressed the bank’s readiness to provide financing solutions for capital-intensive maritime projects, including Inland Dry Ports and Vehicle Transit Areas, to support infrastructure expansion and trade facilitation.
He added that the bank is also prepared to develop flexible financial products tailored to the needs of corporate organisations, unions, cooperatives and individual operators across the maritime value chain.
According to him, enhanced collaboration between financial institutions and maritime stakeholders would improve access to capital, support infrastructure development and strengthen the sector’s contribution to national economic growth.
The proposed partnership is expected to boost investment in critical maritime infrastructure, expand financing opportunities for businesses and reinforce the sector’s role in driving Nigeria’s economic transformation agenda.
