PortNews Summit 2024 to Address Key Questions on Port Reforms, Local Content

The inaugural edition of the PortNews Summit, organized by PortNews Newspaper, is set to take place on Wednesday, December 4, 2024, at the Rockview Hotel, Apapa, Lagos.

This groundbreaking event will bring together prominent economists, maritime industry leaders, legal experts, and journalists to discuss the theme: “Port Reforms and Local Content: Has Nigeria Fared Well?”

The Summit will be chaired by Captain Emmanuel Ihenacho, a former Minister of Interior and seasoned maritime professional.

Guest speakers include Dr. Muda Yusuf, renowned economist and former Director-General of the Lagos Chamber of Commerce and Industry, and Olisa Agbakoba, SAN, a leading maritime legal luminary.

The Governor of Lagos State, Babajide Sanwo-Olu, will serve as the Chief Host, while the Honourable Minister of Marine and Blue Economy, His Excellency Adegboyega Oyetola, will be the Special Guest of Honour.

The Summit aims to provide a critical analysis of Nigeria’s port reforms and the impact of local content policies since the privatisation of ports in 2006. Key questions to be addressed include:

• Have the foreign concessionaires added significant value to Nigeria’s port system in terms of skills transfer, timeliness, increased ship and cargo volumes, and overall efficiency?

• Has privatisation led to increased revenues for the government and improved experiences for port users?

• Does the rise in customs revenue indicate increased ship traffic and a growing Nigerian economy?

• How has the role of Nigerian freight forwarders and licensed customs agents evolved amidst growing customs revenue?

The organizers believe the Summit will offer a platform for stakeholders to explore these pressing issues and provide actionable solutions to improve standards, productivity, and profitability in Nigeria’s maritime industry.

Speakers and panelists are expected to tackle the challenges facing the sector, including: The performance metrics of port concessionaires; The economic realities behind customs’ record-breaking revenue figures; The diminishing involvement of Nigerian freight forwarders in contrast to increasing customs duties.

“This Summit provides an opportunity for industry experts, policymakers, and stakeholders to delve into the heart of these critical questions and map a way forward for the Nigerian maritime sector,” said a statement from the organizers.