Top 5 Seaports Being Built In Nigeria Worth $13 billion
Channel: Africa Reloaded
Date: 2022-04-12

Top 5 Seaports being built in Nigeria Worth $13 billion. 
A seaport is a harbor that supports seagoing boats and is located on or near the coast. There is a town or city at such a site. The importance of the seas to Nigeria’s economy and that of any other nation on the earth is clear, with Nigeria contributing for up to 25% of Africa’s total consumption. Nigeria’s major seaports are expected to be built along the country’s coastlines. As a result, the country’s foreign exchange trades and reserves have grown significantly. Simply said, this vast value is generated by the import and export of a wide range of goods, including petroleum products, food, textiles, and technological equipment. 
In November 2019,the Nigerian Ports Authority (NPA) inked a collaboration agreement with the Port of Antwerp in Belgium in November 2019 in order to expand the potential of its six seaports and strengthen its position as a premier maritime center in West Africa. The Port of Antwerp will advise the NPA on the development of the Port of Lagos, which it sees as critical in handling cargo flows to and from Europe, as part of the deal. Nigeria is a virtual goldmine for many European and international businesses hoping to win contracts in the marine industry, with over 8,000km of navigable inland and coastal canals that assist manage between 40% and 60% of freight movements in the North and Central African subregion. Despite these hopeful indicators, port activity in the country is nevertheless restricted due to outdated infrastructure, capacity constraints, and a lack of technical developments. If the NPA wants to preserve its supremacy in West Africa, it will attempt to fix these difficulties with the support of Antwerp. 

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