Business
Stakeholder Laments Infrastructure Deficit In Maritime Industry
The Executive Vice Chairman of SIFAX Group, Dr Taiwo Afolabi, has urged the Federal Government to provide solutions to the huge infrastructure deficit in the maritime sector.
He said that effective resolution of the infrastructure deficit would facilitate the implementation of the Executive Order on Ease of Doing Business.
Afolabi, a terminal operator, made the plea at the Annual Maritime Conference held on Friday.
The Tide source reports that, the Executive Order came from the Acting President, Prof. Yemi Osinbajo to facilitate trade.
“The huge infrastructure deficit has led to deplorable access roads, faulty cargo scanner, non-existent rail system, non-functional truck bay and others which conspired to negatively impact on the service delivery efficiency.
“These challenges are the major reasons we gathered today to address, because our sector cannot continue to reel under the burden of infrastructural decay if we want to contribute meaningfully to the economy and fulfil the industry’s potential.
“I commend the efforts of the Federal Government in reforming the maritime industry, especially with the Executive Order signed by the Acting President.
“It is an acknowledgment of the fact that things must be done differently.
“However, infrastructure deficit would negate the good intentions of the government if the problems listed above are not strategically and urgently addressed,” he said.
Afolabi said that one of the key objectives of the conference was to promote the culture of intellectual discourse in the country’s maritime industry.
According to him, the conference was organised to address issues affecting the industry with the support of stakeholders such as clearing agents, shippers, investors and workers as well as the community.
He said that, the United Nations had compelled the International Maritime Organisation (IMO), its affiliate responsible for regulating the global maritime industry.
Afolabi said that over 90 per cent of world’s trade was transported by sea, stressing that maritime industry was strategic to maritime nations in terms of its contributions to the economic growth and development of nations.
He said that the contributions of the sector to the country’s Gross Domestic Product (GDP) were still low when compared with its huge potential and opportunities.
The Chairman of the occasion, Mrs Margaret Onyema-Orakwusi, who is the Chairman of Ship Owners Forum, described the maritime industry as a big source of revenue for the economy.
“Maritime is an industry that accommodates different occupations and that is why we need to accommodate other departments to enable them find solutions to the problems in the industry.
“I am asking Afolabi to expand the conference to accommodate other departments to understand maritime operations and solve the problem of accessing loans in the maritime industry,” Onyema-Orakwusi said.
Ms Hadiza Usman, the Managing Director of Nigerian Ports Authority, commended the SIFAX boss and acknowledged the contributions the conference had made to the industry.
Usman, who was represented by Mr Stanley Yitnoe, Assistant General Manager, Business Desk of NPA, said that he had also created numerous awareness of the important of maritime industry in the Nigerian economy.
She commended Afolabi for his resourcefulness in constantly improving the business at the ports in spite of the recent downturn in the economy.
“Afolabi is indeed a great example for youths to emulate.
“The port industry had witnessed significant improvements in port infrastructure and revenue generation since the concession of Nigerian ports to private operators in 2006,” she said.
Usma said that there was the need for extensive infrastructure overhaul and promised that NPA would bring out the much-desired change to actualise government’s development goals.
Retired Major Henry Afolabi, the Executive Director, SIFAX Haulage & Logistics Ltd., expressed concern about inadequate and decaying port access roads and neglect of inter-modalism.
“The current bad state of port access roads calls for concern, especially the two ports in Lagos which received over 70 per cent of the total cargo throughout in the country.
“The bad state of the port access roads in Lagos has impacted adversely on human health especially port users,” Ajetunmobi said.
NMASA boss, Dr Dakuku Peterside, said the agency would continue to safeguard the country’s territorial waters.
Peterside, represented by Mr Anthony Ogabi, a Director in NIMASA, said that NIMASA would work to gain back the Category `C’ position which Nigeria lost in the International Maritime Organisation (IMO).
He said that the agency had a Memorandum of Understanding (MoU) with the Nigerian Navy to stop piracy attacks in the country’s territorial waters which had given room for more ships to call in Nigerian Ports.
The Minister of State for Industry, Trade and Investment, John Enoh said this at the 8th annual induction and conference of the Chartered Institute of Project Managers of Nigeria (CIPMN).
He explained that abandoned projects continue to lock up public funds that could have been used for infrastructure development, industrial growth, job creation and essential social services.
Represented by the ministry’s Permanent Secretary, Chris Osa Isokpunwu, he said the impact goes beyond financial losses, as incomplete projects affect communities and limit access to important public services
He cited examples of that remain unopened, schools that cannot accommodate students, roads that fail to connect communities and electricity projects that have not delivered their intended benefits.
The Registrar-General and Chief Executive Officer of CIPMN, Henry Ifeanyi Mbadiwe, also identified poor project management as a major challenge affecting development in Nigeria.
He revealed that the institute had developed a project management curriculum for Nigerian universities, which has received approval from the National Universities Commission (NUC). The programme is expected to enable universities to offer project management as a bachelor’s degree.
Mbadiwe further referenced findings by the Presidential Projects Assessment Committee, which identified 11,886 ongoing federal capital projects in 2011, with an estimated financial commitment of ?7.78 trillion.
He noted that inadequate planning, supervision, accountability and implementation were among the factors contributing to the abandonment of projects across the country.
The minister called for stronger project management structures across ministries, departments and agencies to improve planning, monitoring and evaluation.
He added that the Federal Ministry of Industry, Trade and Investment had introduced a 90-day implementation reporting cycle to strengthen transparency and monitor the progress of government programmes.
Ikenga said the company remained committed to Nigeria’s power sector and would continue investing in its operations despite the challenging business environment.
He spoke in Lagos at the third edition of the Shell Power Conference, themed “Powering Nigeria’s Progress: Turning Ambition and Action into Sustainable Impact”.
The Transcorp Power chief said the company would sustain electricity generation, invest in its facilities and deliver value to shareholders.
“Transcorp Power is a long-term player, not a short-term player. This year has been challenging, but what is important is getting power to schools, hospitals and businesses to power progress,” he said.
Ikenga said the company’s focus on operational efficiency and investment had strengthened its contribution to Nigeria’s electricity supply.
He disclosed that since acquiring the Ughelli Power Plant in Delta State in 2013, Transcorp Power had quadrupled its available generation capacity.
He also said the company became the first privatised power generation firm to receive a post-privatisation discharge certificate after fulfilling all its privatisation obligations.
The company’s unaudited results for the nine months ended September 30, 2026, showed a profit before tax of N83.1 billion, while its profit-before-tax margin rose to 31.2 per cent from 29.6 per cent recorded in the corresponding period of 2025.
Its total assets rose to 11.7 per cent amounting to N629.5 billion, while shareholders’ funds grew 8.9 per cent to N199.8 billion. Cash and cash equivalents also rose to N10.3 billion, supported by improved collections.
On the company’s contribution to grid stability, Ikenga said Transcorp Power’s black-start capability enabled it to restart operations without relying on electricity from the national grid.
He explained that the capability allowed the company to support power restoration following grid disturbances, helping to restore electricity supply to homes, businesses and industries.
Ikenga noted that Nigeria had an installed electricity generation capacity of about 13,000 megawatts, with an estimated potential of 50 gigawatts, adding that realising the potential would require effective coordination across the entire value chain.
“Everything in the value chain has to work,” he said.
He called for stronger collaboration among federal and state governments, regulators and private-sector operators, alongside increased private investment, to build a sustainable electricity market.
This was contained in a statement issued on Thursday by his Senior Special Assistant on Communications and Press Secretary, Maryann Duke.
The statement said Oyedele pointed to “improved digital systems, including electronic invoicing, as a key driver behind a record of N33tn in government revenue collected between January and October 2026.”
The minister said the performance demonstrated the potential of technology to improve revenue administration, strengthen compliance and increase efficiency across government institutions.
Speaking on the theme, ‘Digital Sovereignty and Ethics: Guarding the Economy for the Next Generation,’ Oyedele warned that Nigeria risked losing substantial economic opportunities if it continued to depend heavily on foreign digital infrastructure.
Citing Nigerian Communications Commission figures, he disclosed that the country recorded more than 157 million active internet subscriptions as of May 2026.
He explained that these connections generated significant volumes of information through financial transactions, healthcare, education and taxation.
However, citing estimates from the Nigeria Data Protection Commission, Oyedele said as much as 90 per cent of the country’s data was hosted abroad.
According to him, the situation has implications for foreign exchange expenditure, employment opportunities, technological skills and Nigeria’s control over information generated by its citizens.
He compared the country’s reliance on foreign digital infrastructure with its historical dependence on imported refined petroleum products, warning against a situation where Nigerian data would be processed abroad and the resulting services sold back to domestic users.
The minister consequently advocated greater investment in local data infrastructure, technical expertise, cybersecurity and predictable regulations to enable Nigerian businesses to capture more value from the digital economy.
He clarified that digital sovereignty should not translate into technological isolation but should strengthen Nigeria’s capacity to participate competitively in international markets.
Addressing graduating students, Oyedele urged young Nigerians to become developers of technological solutions rather than remain primarily consumers of products created elsewhere.
He identified artificial intelligence as both a disruptive force and an opportunity for innovation, advising graduates to acquire relevant digital skills alongside critical thinking, creativity, sound judgement and integrity.
The minister also cautioned against irresponsible online behaviour, explaining that digital footprints increasingly influence employment prospects, commercial relationships and professional credibility.
Oyedele outlined five priorities for graduates, including continuous learning, value creation, integrity, responsible digital citizenship and active participation in national development.
“Your degree is evidence of what you have learned. Your competence will demonstrate what you can do. Your character will reveal who you truly are,” he told the graduating students.
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