Joyce Mmereole Okoli
The Nigerian Shippers’ Council (NSC) has initiated a strategic partnership with Providus Unity Bank aimed at unlocking financing for critical maritime infrastructure, empowering small and medium-scale enterprises (SMEs), and accelerating the maritime sector’s contribution to Nigeria’s target of building a $1 trillion economy by 2030.
The move underscores the Council’s commitment to leveraging strategic financial partnerships to bridge infrastructure gaps, stimulate investment, and enhance the competitiveness of Nigeria’s ports and logistics industry.
Speaking during a courtesy visit by a delegation from Providus Unity Bank to the Council’s headquarters in Lagos, the Executive Secretary and Chief Executive Officer of the NSC, Pius Akutah, reaffirmed the Council’s role as Nigeria’s Port Economic Regulator, with the responsibility of promoting efficiency, competitiveness, and ease of doing business across the nation’s port and maritime sector.
According to Akutah, the maritime industry remains the backbone of Nigeria’s international trade, facilitating nearly 90 per cent of the country’s import and export activities and serving as a major driver of economic growth.
He said the Council is fully aligned with President Bola Ahmed Tinubu’s economic agenda and is committed to working with stakeholders across every sector to achieve the Federal Government’s ambitious economic target.
“We have a Presidential mandate to work with all sectors of the economy to ensure that by 2030 we achieve the $1 trillion economy goal. Without the ports, there will be no sector of the economy,” Akutah stated.
Highlighting the impact of the Council’s regulatory reforms, he disclosed that the NSC has, over the past two years, prevented more than $90 billion in capital flight by curbing excessive and arbitrary cargo-related charges at Nigerian ports.
While acknowledging Nigeria’s enormous maritime potential and infrastructure assets, Akutah noted that financing remains one of the biggest constraints to sectoral growth. He therefore called for stronger collaboration between the financial sector and maritime stakeholders to unlock investment opportunities.
“We are looking for partners. SMEs are a very crucial component of the economy. We are ready to facilitate partnerships between banks and importers, exporters, and SMEs with the capacity to expand their businesses and contribute meaningfully to national economic growth,” he said.
He further disclosed that the Council would establish a structured engagement platform with Providus Unity Bank to identify and implement practical areas of collaboration capable of attracting investment into the maritime industry.
Earlier, the Head of Business Development at Providus Unity Bank, Ernest Elue, said the visit was part of the bank’s broader strategy to deepen collaboration with the Nigerian Shippers’ Council and other key stakeholders in the maritime ecosystem.
Elue said the bank is prepared to finance capital-intensive maritime infrastructure projects, particularly Inland Dry Portsand Vehicle Transit Areas (VTAs), through tailor-made financial solutions for project concessionaires and investors.
He added that Providus Unity Bank is also committed to developing flexible financing products that will support corporate organisations, unions, cooperatives, and individual operators across the maritime value chain.
According to him, the proposed partnership will improve access to finance for strategic maritime infrastructure, strengthen SMEs, encourage private sector investment, and position the maritime sector to play a more significant role in achieving Nigeria’s long-term economic development objectives.