The maiden edition of the PortNews Summit, organized by PortNews Newspaper, is set to hold on Wednesday, December 4, 2024 in Lagos.
The event, themed around critical questions and challenges in the maritime sector, aims to bring together leading experts and stakeholders to dissect pressing issues and proffer actionable solutions for the growth of the industry.
The summit will be chaired by former Minister of Interior, Captain Emmanuel Ihenacho, a seasoned maritime expert. It will feature addresses from notable speakers, including renowned economist and former Director General of the Lagos Chamber of Commerce and Industry, Dr. Muda Yusuf, and maritime legal luminary Olisa Agbakoba, SAN. Lagos State Governor, Babajide Sanwo-Olu, will serve as the Chief Host, while the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, is the Special Guest of Honour.
The event is expected to attract a distinguished gathering of economists, shipowners, maritime stakeholders, legal experts, and seasoned journalists, all focused on addressing the lingering issues that have defined Nigeria’s maritime sector since the privatisation of ports in 2006. Key discussions will revolve around the performance of terminal concessionaires and whether they have delivered on promises of increased efficiency, skill transfer, timeliness, and higher volumes of ships and cargo.
Stakeholders will also assess the extent to which privatisation has translated into more revenue for the government and improved services for port users. Additionally, the summit will critically examine the recent surge in Customs revenue amidst concerns about the declining involvement of Nigerian freight forwarders and customs agents.
Among the critical questions to be tackled are whether the increasing Customs revenue reflects genuine growth in ship traffic and cargo volumes or if it is simply a revenue-collection exercise
The summit will also explore the fate of freight forwarders and other key players in the maritime value chain, whose roles seem to be diminishing even as the Nigeria Customs Service reports trillions of naira in generated duties.
Furthermore, experts will analyze the real value of the revenue figures, the source of these collections, and whether they align with the volume of cargoes passing through Nigerian ports. They will also evaluate the overall impact of privatisation on the efficiency, productivity, and standards of the nation’s maritime industry.
The PortNews Summit 2024 seeks to provide a platform for maritime technocrats, policymakers, and industry practitioners to engage in meaningful discussions aimed at improving standards, boosting productivity, and increasing profitability in the sector.
