Editorial
Beyond The WEF Africa
Notwithstanding the lingering security
concern in the country that was
worsened by the abduction of over 200 Chibok school girls by the Boko Haram insurgents, the world was literally in Nigeria on May 7 – 9, 2014 for the World Economic Forum (WEF) Africa.
The summit, which held in Abuja, Nigeria’s capital, was the 24th edition and adjudged one of the best organised. Within the period, Abuja was literarily shut down, as offices and major commercial concerns closed shop to allow easy access for participants that came from across the globe.
The event, which brought together some 1,800 regional and global leaders – unprecedented in the history of the summit – was centred on the theme, “Forging Inclusive Growth and Creating Jobs for Africa’s Growing Population.” The attendance of heads of government and businesses across the world clearly underscored the faith and confidence the world has on Nigeria.
This prestigious conference had been hosted by South Africa, Tanzania and Ethiopia. Nigeria being the largest economy in Africa, could not have been left out. Indeed, Nigeria’s Co-ordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, said, “Nigeria is seen as a dynamic economy with interesting prospects… that it is seen as attracting strong macro capital ability, and also the ability… especially, agriculture, petrochemical and manufacturing because we have a large consumer base”.
The WEF, as it were, is an organisation committed to improving the economy of the world and its citizens, with particular interest in arousing competitiveness of all countries in the global economy. Thus, its focus on Africa promises to be positively impactful on the continent. As expected, the Abuja summit helped to x-ray some developmental challenges in Africa and what can be done about them.
Interestingly, at the end of the three-day event, a commitment for $68 billion (N11.22 trillion) investment was made. The Managing Director, WEF, Africa, Philip Roster, said the commitment was secured for various sectors of the African economy. He said that the money would be invested in key sectors, including education, health, infrastructure and agriculture.
Also seen as dividend of the summit is the proposed $30 billion investment in Africa by China and 18,000 scholarships to African Professionals to study in China. Clearly, the impact of the summit will not be forgotten for some time, but African leaders must leverage on the benefits of the summit to better the lot of Africa and its people in the immediate future.
While we applaud the Federal Government and all its relevant agencies for a very successful and hitch-free summit, The Tide is of the opinion that WEF Africa Summit has opened some channels for foreign capital flow and expertise that African leaders must know how to manage. They have a lot to do to change the way things are done and to accommodate global best practices.
The world would want to see political stability and not coup d’etat or sit-tight leaders who have overstayed their welcome. Africa must shun corruption and eliminate situations that breed corruption, provide good governance, security and infrastructural development.
It is imperative that Africa captures a substantial part of the global market by applying international best practices and building on regional cooperation. Here, the idea of cutting corners and producing fake and sub-standard goods must stop as it only opens market for other countries.
For a nation rated by the World Bank to be among the poorest in the world, the hosting of the summit should be seen as yet another opportunity for critical reappraisal of Nigeria’s social and economic policies with a view to lifting its 170 million people and indeed Africans above the poverty line.
After the WEF Africa summit, it now behoves African leaders to move beyond rhetorics and work the words with positive action, tackling the challenges of security, infrastructure development and job creation to ensure sustainable growth.
When Rivers State Governor, Sir Siminalayi Fubara, received the Board and Management of the Nigerian Ports Authority (NPA), led by its Chairman, Senator Adeyeye Adedayo Clement, his message was unmistakable: Rivers’ seaports remain underutilised, and Nigeria is poorer for it. The governor’s lament was a sad reminder of how neglect and centralisation continue to choke the nation’s economic arteries.
The governor, in his remarks at Government House, Port Harcourt, expressed concern that the twin seaports — the NPA in Port Harcourt and the Onne Seaport — have not been operating at their full potential. He underscored that seaports are vital engines of national development, pointing out that no prosperous nation thrives without efficient ports and airports. His position aligns with global realities that maritime trade remains the backbone of industrial expansion and international commerce.
Indeed, the case of Rivers State is peculiar. It hosts two major ports strategically located along the Bonny River axis, yet cargo throughput has remained dismally low compared to Lagos. According to NPA’s 2023 statistics, Lagos ports (Apapa and Tin Can Island) handled over 75 per cent of Nigeria’s container traffic, while Onne managed less than 10 per cent. Such a lopsided distribution is neither efficient nor sustainable.
Governor Fubara rightly observed that the full capacity operation of Onne Port would be transformative. The area’s vast land mass and industrial potential make it ideal for ancillary businesses — warehousing, logistics, ship repair, and manufacturing. A revitalised Onne would attract investors, create jobs, and stimulate economic growth, not only in Rivers State but across the Niger Delta.
The multiplier effect cannot be overstated. The port’s expansion would boost clearing and forwarding services, strengthen local transport networks, and revitalise the moribund manufacturing sector. It would also expand opportunities for youth employment — a pressing concern in a state where unemployment reportedly hovers around 32 per cent, according to the National Bureau of Statistics (NBS).
Yet, the challenge lies not in capacity but in policy. For years, Nigeria’s maritime economy has been suffocated by excessive centralisation. Successive governments have prioritised Lagos at the expense of other viable ports, creating a traffic nightmare and logistical bottlenecks that cost importers and exporters billions annually. The governor’s call, therefore, is a plea for fairness and pragmatism.
Making Lagos the exclusive maritime gateway is counter productive. Congestion at Tin Can Island and Apapa has become legendary — ships often wait weeks to berth, while truck queues stretch for kilometres. The result is avoidable demurrage, product delays, and business frustration. A more decentralised port system would spread economic opportunities and reduce the burden on Lagos’ overstretched infrastructure.
Importers continue to face severe difficulties clearing goods in Lagos, with bureaucratic delays and poor road networks compounding their woes. The World Bank’s Doing Business Report estimates that Nigerian ports experience average clearance times of 20 days — compared to just 5 days in neighbouring Ghana. Such inefficiency undermines competitiveness and discourages foreign investment.
Worse still, goods transported from Lagos to other regions are often lost to accidents or criminal attacks along the nation’s perilous highways. Reports from the Federal Road Safety Corps indicate that over 5,000 road crashes involving heavy-duty trucks occurred in 2023, many en route from Lagos. By contrast, activating seaports in Rivers, Warri, and Calabar would shorten cargo routes and save lives.
The economic rationale is clear: making all seaports operational will create jobs, enhance trade efficiency, and boost national revenue. It will also help diversify economic activity away from the overburdened South West, spreading prosperity more evenly across the federation.
Decentralisation is both an economic strategy and an act of national renewal. When Onne, Warri, and Calabar ports operate optimally, hinterland states benefit through increased trade and infrastructure development. The federal purse, too, gains through taxes, duties, and improved productivity.
Tin Can Island, already bursting at the seams, exemplifies the perils of over-centralisation. Ships face berthing delays, containers stack up, and port users lose valuable hours navigating chaos. The result is higher operational costs and lower competitiveness. Allowing states like Rivers to fully harness their maritime assets would reverse this trend.
Compelling all importers to use Lagos ports is an anachronistic policy that stifles innovation and local enterprise. Nigeria cannot achieve its industrial ambitions by chaining its logistics system to one congested city. The path to prosperity lies in empowering every state to develop and utilise its natural advantages — and for Rivers, that means functional seaports.
Fubara’s call should not go unheeded. The Federal Government must embrace decentralisation as a strategic necessity for national growth. Making Rivers’ seaports work is not just about reviving dormant infrastructure; it is about unlocking the full maritime potential of a nation yearning for balance, productivity, and shared prosperity.
