Shipping sector records 50% surge as currency stabilises

The Shipping Association of Nigeria has revealed that the nation’s seaports recorded a 40–50 per cent increase across the entire shipping sector in 2025. This is even as the association attributed the increase to currency stability and other factors that are driving and improving the nation’s economy.

The Chairman of SAN, Boma Alabi, a Senior Advocate of Nigeria, disclosed this in Lagos while addressing some selected maritime journalists on Saturday. Alabi stressed that 2025 has been a better year than 2024 in terms of the entire shipping sector volume in the maritime sector.

“We have seen an increase across the entire shipping sector in 2025, both coming in and going out, which I think is because of the stability of the currency and other factors that the economy is improving.

“Giving the percentage of the increase, I would say at least 40 to 50 per cent, just by general observation of the number of vessels that are calling into our ports and also leaving with cargoes from our ports. So, as usual, we have several agencies that we have to interface with,” Alabi said.

She, nevertheless, emphasised that the efficiency of the port relies on the efficiency of the agencies in the port, adding that in a situation where the agencies work efficiently, the port will also be efficient, and vessels can call in and leave very quickly.

She added that it reduces the costs for the importers and the exporters, which goes on to reduce costs for manufacturers and consumers generally.

“Efficiency of these agencies is key. For instance, if the Nigeria Customs Service is not operating at optimum, that immediately impacts how quickly you can clear your goods, both coming in and going out. I know the government has tried to automate the operations, they have this B’Odogwu,” she said.

Alabi, who is also the President of Shipping Agencies, Clearing and Forwarding Employers Association, lamented that some of the technologies introduced by the government have not been working effectively.

She underscored the need to always test-run some of the technologies before rolling them out, adding that, unfortunately, “these government agencies don’t think from a commercial perspective. They just roll things out, and then industry is impacted negatively because they have not taken the time to test-run it properly before rolling it out.”

She called on the government agencies to up their game in order to make the nation’s ports more efficient for investors, saying there is a need to invest in port infrastructure across the nation.

Reacting to this, a chieftain of the Association of Nigerian Licensed Customs Agents, Mr Amuni Riwan, admitted that there is an increase in shipping trade this year. “Yes, there is an increase in shipping trade this year,” Amuni said.

SAN represents major shipping-line agents and maritime stakeholders operating in Nigeria.