SEREC Warns of Decisive Year Ahead for Nigeria’s Maritime Industry

BY GBOGBOWA GBOWA

The Sea Empowerment & Research Center (SEREC–RGT) has released its annual maritime outlook, describing 2025 as a year of “transition and recalibration” for Nigeria’s maritime industry, while projecting 2026 as a decisive period for reforms and competitiveness.

According to SEREC in its end of year analysis, the sector was shaped by four dominant realities: New policy identity under the Federal Ministry of Marine and Blue Economy; Intensifying regional competition within the Gulf of Guinea; Disruptive port and customs modernization efforts; and Severe macroeconomic instability, particularly foreign exchange volatility.

These factors influenced port performance, shipping decisions, trade volumes, and investor sentiment throughout the year, the group stated.

Port Development & Automation

Port automation remained one of the most discussed but least implemented reforms in 2025, noting that Nigeria still operates over 15 separate trade-related digital platforms with limited interoperability.

It claimed that human interface accounts for 60–70% of cargo clearance, compared to below 30% in leading regional ports, adding that the National Single Window project is still at pilot stage, delaying reductions in clearance time and costs.

SEREC in addition noted that Customs modernization, led by the migration to the new B’Odogwu platform, caused short-term disruptions but introduced structural gains such as non-intrusive scanners, truck tracking, and strengthened post-clearance audits.

Port Performance Indicators

According to the group, ship turnaround time improved modestly by 10–15% in Lagos ports, noting that Nigeria still lags behind Lome (2–3 days) and Tema (3–4 days), with Apapa/Tin Can averaging 5–7 days.

It further notes: Cargo dwell time remains high at 10–18 days, compared to 7–10 days in Lome/Tema and 3–5 days globally. Truck turnaround time improved significantly to 24–48 hours, down from 3–5 days, though logistics costs remain high. Port safety was stable, with enhanced surveillance and zero major incidents reported.

Maritime Security & IMO Compliance

Nigeria recorded zero piracy incidents in its waters and the Gulf of Guinea in 2025, a milestone attributed to collaboration between NIMASA, the Navy, and private operators. The achievement coincided with Nigeria’s election into the IMO Category “C” Council, reinforcing its international maritime profile.

Cost of Doing Business

Despite reforms, SEREC declared that Nigeria’s ports remain among the most expensive in West Africa with terminal handling costs hovering between 30–40% higher than regional peers.

While the body says that arbitrary charges and overlapping levies persist, the 4% FOB charge further increased import costs, driving cargo diversion to Lome Port.

Intermodal Transport & Macroeconomic Pressures

Intermodal integration remained weak, with rail evacuation accounting for less than 5% of cargo movement. Foreign exchange volatility was identified as the single most destabilizing factor, leading to cargo abandonment, reduced ship calls, and investor caution.

Institutional Dynamics

SERECT also noted that debates around the proposed National Revenue Authority and evolving Port Regulatory Agency highlighted the need for clarity and phased implementation, even as it claimed that Nigeria’s appointment of its Customs Comptroller General as Chairman of the WCO Council boosted global visibility.

The body however conceded that while policy direction was strong with improved institutional visibility, port user experience recorded moderate improvement that rode on transitional trade facilitation.

SEREC further argued that amid a weak cost competitiveness atmosphere which generally created a fragile macroeconomic stability; producing a cautious investors’ confidence.

In conclusion, SEREC projected that a decisive outlook for 2026 hinged on the following:

-Consolidation of port automation and the National Single Window.

-Stabilization of foreign exchange.

-Reduction of arbitrary port charges.

-Functional intermodal transport integration.

-Sustained maritime security gains.

-Support for non-oil export growth, which saw double-digit increases in 2025.

SEREC emphasized that while 2025 laid important institutional and policy foundations, the coming year must deliver measurable outcomes in competitiveness, predictability, and cost efficiency.

“The year 2026 offers a critical opportunity to convert policy intent into measurable performance outcomes,” Fwdr. Eugene Nweke, Head of Research at SEREC, said.