INSUBCONTINENT EXCLUSIVE:
broader African Continental Free Trade Area (AfCFTA) agreement, which represents a $3.4 trillion market opportunity for African
nations.However, logistical hurdles currently prevent Nigeria from fully capitalizing on this potential
The NSC has already begun engaging key stakeholders to realize its investment target.Their five-year program focuses on enhancing the
a $10 Billion Investment Wave
(Photo Internet reproduction)Recent efforts have yielded promising results
In the past year, the NSC saved over 40 billion naira (approximately $52 million) on charter party fees.This achievement stemmed largely
extends beyond cost savings
In one instance, the NSC successfully mediated a conflict that could have resulted in a $70 million loss.However, this dispute was resolved
sector.Despite these successes, significant challenges remain
Akutah emphasized the need to improve connectivity within the African region.Currently, goods often take circuitous routes through Europe
before reaching other African destinations, increasing both time and costs for traders.To address these issues, the NSC is advocating for
the passage of the Nigerian Port Economic Regulatory Agency Bill
This legislation aims to simplify the regulatory landscape and improve border controls.It would grant the NSC more authority to monitor and
The council is also prioritizing partnerships with major global shipping companies.These collaborations aim to transform Nigeria into a
maritime logistics hub for Africa
