The Nigerian Ports Authority, NPA has projected double-digit growth in cargo throughput and revenue following BUA Group’s $85 million investment to expand its port and terminal facilities in Port Harcourt.
Managing Director of the NPA, Dr. Abubakar Dantsoho, made the projection during a visit by BUA Group Chairman, Abdul Samad Rabiu, to the Authority’s headquarters in Lagos, where the company briefed the management on the progress of the expansion project.
Dantsoho described the investment as a major boost to trade and the development of Nigeria’s eastern ports, saying it would increase cargo volumes, generate higher revenue and strengthen the competitiveness of Nigerian ports.
He said the Authority remains committed to collaborating with investors to improve port efficiency and unlock greater economic value.
“He’s a major stakeholder for many years. What he’s is doing is exactly the kind of collaboration we expect between the Authority and investors, especially in expanding activities in the eastern ports,” Dantsoho said.
According to him, the expansion would support increased imports and exports, creating more value for the Nigerian economy.
“We are going to expect that we are going to have more volumes. Once you have volumes, then you have more value, then more dollars and more naira will come. That is what is required,” he stated.
The NPA boss projected that the project could increase port activity by between 13 and 14 per cent, describing the expected growth as significant for the industry.
“On a normal day, 16 per cent is expected anywhere in the world in the port industry. So with this kind of development, I’m sure we can get like 13-14 per cent, which is a very fantastic thing to happen,” he said.
Dantsoho also noted that Nigeria’s ports had recently gained international recognition, with Apapa and Tin Can ports ranked among the world’s 20 most improved ports by S&P and the World Bank.
He attributed the achievement to stronger collaboration between the Authority and private sector operators.
“We can’t be doing that as NPA alone. This is what has been missing for some time. We know that we have to come to them, and they know that they have to come to us. This is something that must happen for us to make any progress,” he added.
Earlier, BUA Group Chairman, Abdul Samad Rabiu, said the company is investing about $85 million to expand its Port Harcourt terminal to support the rapid growth of BUA Foods.
Rabiu said the expansion would enable the company to handle more than two million tonnes of imported raw materials annually when its ongoing food business expansion is completed next year.
“We’re here to thank the MD and his team for the support we’re getting and also to brief NPA on the progress we’re making with the expansion of our BUA Ports and Terminals in Port Harcourt,” he said.
He disclosed that the expanded terminal would provide about 600 metres of quay frontage, significantly increasing cargo-handling capacity and strengthening the company’s logistics operations.
Rabiu commended the NPA management for its support and praised President Bola Tinubu for appointing the current leadership of the Authority, noting that the collaboration had been instrumental in advancing the project.
The expansion is expected to position Port Harcourt as a stronger cargo hub while supporting BUA’s broader industrial growth strategy across its food, cement, mining and infrastructure businesses.