Seaport Operators Advocate For Maritime Sector, Asserting Potential To Surpass Oil In Revenue Generation

Princess Vicky Haastrup, the Chairman of the Seaport Terminal Operators Association of Nigeria (STOAN), has asserted that Nigeria’s maritime sector has the potential to surpass the oil and gas industry in terms of revenue generation if it receives prioritized attention.

During a courtesy visit by the Executive Secretary/Chief Executive Officer of the Nigerian Shippers’ Council (NSC), Mr. Akutah Pius Ukeyima, Haastrup expressed her support for the establishment of the Federal Ministry of Marine and Blue Economy. She emphasized that achieving the Federal Government’s goal of increasing revenue from the maritime sector requires careful and strategic long-term planning.

Additionally, Haastrup advocated for the passage of the National Transport Commission (NTC) Bill. She highlighted that the bill would serve as an independent economic regulator in the transport industry, covering maritime, rail, aviation, and land transport. This regulatory framework, according to her, would contribute to the overall development and efficiency of the transportation sector in Nigeria.

“It is expected to promote competitive market conduct and ensure that the misuse of monopoly or non-transitory market power is prevented in the provision of transport services.

“It will also promote private sector participation in the provision of transport services, ensure that operators and users have equitable access to the use of transport facilities, services, channels and routes,” she said.

Princess Vicky Haastrup assured the Nigerian Shippers’ Council of her support for its transformation into the National Transport Commission (NTC) once the NTC Bill is enacted into law. This affirmation underscores her commitment to backing the regulatory transition and the potential benefits it could bring to the transportation sector in Nigeria.

“We support the NTC and support the Nigerian Shippers’ Council’s transmutation into the NTC to enable the council to effectively protect the rights and interests of operators and consumers,” she said.

The Chairman of the Seaport Terminal Operators Association of Nigeria (STOAN), Princess Vicky Haastrup, highlighted that terminal operators at the country’s seaports have successfully tackled numerous challenges in cargo-handling operations. This achievement, she noted, resulted from significant private sector investments made at various terminals.

Haastrup emphasized that port concessionaires have played a pivotal role in enhancing the efficiency and productivity of the ports.

The improvements include the reduction of vessel waiting time, decreased costs associated with port-related activities, the redirection of government resources to other critical sectors, an increase in government revenue through seaports, and the generation of employment opportunities. This underscores the positive impact of private sector involvement and investment in the maritime industry in Nigeria.

“Terminal operators, in collaboration with the Nigerian Ports Authority, have improved the state of the ports in terms of security, quay and yard infrastructure, productivity and efficiency.

“The efficiency of our ports has improved multiple folds. Vessel waiting time has since been eliminated, resulting in significant savings for importers and exporters. The government now generates revenue in trillions of naira through the tax authorities, Customs, NPA, and NIMASA as against the few billions generated before the concession,” she said.

During the visit, the Executive Secretary of the Nigerian Shippers’ Council (NSC), Mr. Akutah Pius Ukeyima, commended terminal operators for their investments in the port infrastructure. He expressed appreciation for the insights gained into the operations of terminal operators and pledged to promote collaboration with them.

Ukeyima also promised to create an enabling environment conducive to the growth and success of businesses operating within the seaports. This demonstrates a commitment to fostering positive relationships and supporting the development of the maritime industry.