Terminal operators have invested more than $1 billion in Nigeria’s port industry since the commencement of the port concession programme two decades ago, with Ports and Terminal Multiservices Limited (PTML) alone committing over $250 million to infrastructure and operational development.
Managing Director of PTML, Ascanio Ruso, disclosed this during the Federal Ministry of Marine and Blue Economy’s 2nd Quarter 2026 Citizens/Stakeholders’ Engagement themed, “From Policy to Action: Mobilising Sub-National Governments for Effective Implementation of Nigeria’s National Policy on Marine and Blue Economy”.
Ruso said the investments made under the concession programme had significantly improved port infrastructure and operations, while PTML was preparing for another round of major expansion to strengthen its cargo handling capacity and operational efficiency.
“Over the last 20 years since the port concession began, terminal operators have invested more than $1 billion. At PTML alone, we have invested more than $250 million since we commenced operations, and we are now preparing for another major phase of infrastructure development that will further enhance our terminal’s capacity and efficiency,” he said.
According to him, the planned expansion will enable the terminal to handle rising cargo volumes and increasing vehicle imports from China, Europe, North America and countries across West and Central Africa.
Ruso reaffirmed the terminal operator’s commitment to working closely with government and industry stakeholders to strengthen Nigeria’s maritime sector, expressing confidence that sustained investment would help position Lagos as one of Africa’s leading maritime and logistics hubs.
He said PTML remained committed to initiatives that would improve port competitiveness, facilitate trade and enhance operational efficiency across the maritime industry.
Also speaking, Chairman of the Senate Committee on Marine Transport, Senator Wasiu Eshinlokun, described the National Policy on Marine and Blue Economy as a major milestone in Nigeria’s efforts to unlock the enormous economic potential of its maritime resources.
He stressed that the success of the policy would ultimately depend on effective implementation, particularly at the sub-national level.
“The true measure of any policy lies not in its design but in its execution. This is why mobilising sub-national governments is both necessary and urgent. From a legislative perspective, our responsibility goes beyond making laws. It extends to creating an enabling legal and institutional framework that guarantees effective implementation, accountability and sustainability,” he said.
Eshinlokun noted that state governments play a pivotal role in areas such as fisheries, inland waterways transportation, coastal tourism, marine conservation and blue economy industrialisation, as these activities are largely situated within states and local communities.
He said the National Assembly would continue to bridge the gap between policy formulation and implementation through legislation, budgetary support and oversight.
The senator also urged state Houses of Assembly to enact laws tailored to their respective maritime and inland waterways potential to complement the Federal Government’s efforts.
“The National Assembly will continue to provide legislative support, policy oversight and strategic engagement to ensure that the objectives of the National Policy on Marine and Blue Economy translate into economic growth, social inclusion and national food security,” he said.