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The Nigerian Shippers’ Council (NSC) has unveiled plans to broker strategic partnerships between financial institutions and maritime businesses, including importers, exporters and small and medium-sized enterprises (SMEs), as part of efforts to improve access to finance and accelerate Nigeria’s drive towards a $1 trillion economy by 2030.
The Executive Secretary/ CEO of the Council, Dr. Pius Akutah, MON, disclosed this during a courtesy visit by officials of Providus Unity Bank to the Council’s headquarters in Lagos.
Akutah said the initiative is aimed at unlocking investment across the maritime value chain by connecting banks with businesses that require funding to expand operations, develop infrastructure and boost trade.
According to him, the Council, as Nigeria’s Port Economic Regulator, is committed to creating an efficient, competitive and investment-friendly port system capable of driving economic growth.
“We are looking for partners. SMEs are a very crucial component of the economy. We are ready to broker relationships between banks and importers, exporters and SMEs that have the potential to grow the economy,” he said.
He explained that the maritime sector accounts for about 90 per cent of Nigeria’s international trade, making it central to the Federal Government’s economic transformation agenda.
“We have a Presidential mandate to work with all sectors of the economy to ensure that by 2030 we achieve the trillion-dollar economy goal. Without the ports, there will be no sector of the economy,” Akutah added.
The NSC boss further revealed that the Council’s regulatory interventions over the past two years have prevented more than $90 billion in capital flight that could have resulted from excessive cargo-related charges, underscoring the value of effective port economic regulation.
While acknowledging Nigeria’s significant maritime infrastructure assets, he noted that financing constraints and capacity gaps continue to hinder the sector’s growth, making stronger collaboration between regulators, financial institutions and industry operators imperative.
To sustain the initiative, Akutah said the Council would establish a platform for continuous engagement with Providus Unity Bank to identify practical areas of collaboration that would stimulate investment across the maritime industry.
Earlier, the Head of Business Development at Providus Unity Bank, Mr. Ernest Elue, said the visit was aimed at exploring strategic collaboration with the Nigerian Shippers’ Council and other stakeholders within the maritime ecosystem.
He said the bank is prepared to finance capital-intensive projects such as Inland Dry Ports and Vehicle Transit Areas through tailored funding solutions for project concessionaires.
Elue added that Providus Unity Bank is also developing flexible financial products for corporate organisations, maritime unions, cooperatives and other operators across the maritime value chain.
The proposed collaboration is expected to expand access to finance for critical maritime infrastructure, strengthen SMEs and enhance the maritime sector’s contribution to Nigeria’s economic growth and trade competitiveness.
