As President Bola Tinubu marked the second anniversary of his administration on Wednesday, he identified key maritime and trade reforms as critical components of his economic recovery strategy, describing them as “undeniable progress” under the Renewed Hope Agenda.
In a nationwide broadcast and statement released by the State House, President Tinubu announced that Nigeria’s maritime and trade environment has witnessed targeted policy reforms designed to boost exports, improve trade facilitation, and enhance global competitiveness.
He cited the National Single Window Project—a digital platform aimed at streamlining cross-border trade—as a major milestone in easing import and export bottlenecks at Nigerian ports. According to the president, the initiative is already reducing delays and is expected to enhance Nigeria’s position in global trade indices.
“Our National Single Window project streamlines international trade, reduces delays, and enhances Nigeria’s competitiveness,” Tinubu stated, emphasizing that the reforms are not just about revenue generation but also about creating an inclusive economic environment.
President Tinubu also disclosed that through deliberate export incentives, the federal government is supporting Nigerian businesses to penetrate global markets. “Through export incentives, Nigerian businesses will be able to compete globally,” he said.
The administration, he noted, is introducing targeted and transparent tax incentives that support high-impact sectors such as manufacturing, agriculture, and technology, many of which are heavily linked to the logistics and maritime value chain.
“Our bold tax reforms have improved the tax-to-GDP ratio from 10% to over 13.5% by the end of 2024. We have eliminated wasteful tax waivers and instead provided incentives that will support growth in sectors critical to trade and industrialization,” Tinubu said.
Tinubu further stated that the country’s foreign reserves had risen from $4 billion in 2023 to over $23 billion by the end of 2024, a development that supports currency stability and import financing, which are vital to Nigeria’s seaborne trade activities.
On the oil and gas front, which forms a significant chunk of the country’s maritime export volume, the president reported an impressive recovery in upstream activities. He said rig counts had increased by over 400% compared to 2021, and over $8 billion in new investments had been committed to the sector in 2025 alone.
Industry stakeholders have long linked port reforms and trade digitalization to increased efficiency in the maritime sector. The president’s statement signals a continued focus on policy interventions that impact maritime logistics, customs administration, and Nigeria’s regional trade posture under the African Continental Free Trade Area (AfCFTA).
As the administration enters its third year, expectations remain high among importers, exporters, and maritime stakeholders that the ongoing reforms will translate into tangible improvements in port operations, export competitiveness, and revenue generation from the blue economy.
