Nigeria Loses Revenue to Informal Maritime Trade
Stakeholders within the maritime and logistics sectors have raised concerns that, despite its strategic advantages, Nigeria is missing out on substantial revenue due to informal cross-border trade. They are urging for immediate reforms aimed at formalizing coastal trade along the Gulf of Guinea.
Insights from the CILT Conference
This call for action was articulated at the 2026 Conference of the Cross River State Chapter of the Chartered Institute of Logistics and Transport (CILT) in Calabar, which focused on the theme of promoting coastal maritime trade with littoral states along the Gulf of Guinea.
Nigeria’s Potential in Maritime Trade
During the conference, Boboye Oyeyemi, the National Chairman of CILT Nigeria, highlighted that Nigeria’s 800-kilometer coastline, key ports, and inland waterways position the nation to spearhead maritime trade in the Gulf of Guinea region. However, he expressed disappointment over the ineffective policy linkages and the prevalence of informal trade with neighboring countries like Cameroon, Ghana, Benin, and Togo, which hinder Nigeria from fully capitalizing on regional trade opportunities.
Economic Impact of Informal Trade
Oyeyemi emphasized, “Transforming informal trade into formal trade will bring us prosperity.” He pointed out that Nigeria is suffering economically because significant quantities of goods are traded informally, leading to losses that do not reflect in the nation’s GDP. He urged the Federal Ministry of Marine and Blue Economy, as well as Customs and related institutions, to work towards harmonizing trade instruments and implementing policies to bolster formal coastal trade across the Gulf of Guinea.
Challenges in Maritime Operations
The former Corps Marshal of the Federal Road Safety Corps identified several challenges hampering efficient maritime operations, including weak local transport capacity, high port fees, poor rail connectivity, and overloaded trucks on highways. He stressed that the absence of an effective intermodal transportation system has led to an over-reliance on large trucks for freight transport, exacerbating the deterioration of the nation’s roadway infrastructure.
Strategic Investments for Regional Development
In an effort to address these challenges, Oyeyemi called on the Cross River State Government to reposition the Calabar Port as a regional maritime hub through targeted investments in infrastructure, inland waterways, and logistics systems. Anifiok Itong, chairman of the CILT Calabar Chapter, noted that the conference served as a strategic forum to advocate for maritime trade, regional integration, and transport development within the Gulf of Guinea Corridor.
Cross River’s Strategic Maritime Position
Itong highlighted that Cross River State’s strategic location, characterized by its coastline, navigable waterways, and access to a range of transportation networks—including sea, rail, air, and pipeline—offers significant opportunities for promoting regional shipping. He underscored the necessity for stronger partnerships between the government and private investors to unlock the full potential of the maritime sector.
Future Developments in Maritime Infrastructure
Representing Governor Bassey Otu, Transport Secretary Ekpenyong Cobham announced that the state government is actively working to reposition Cross River as a maritime and logistics hub within the Gulf of Guinea. Cobham shared insights from a pre-feasibility study indicating that Ikan Beach in Bakassi could handle a daily passenger volume of approximately 1,940—surpassing the 827 passengers currently managed in Calabar. This data reflects growing maritime transport activities and economic potential in the coastal corridor. Additionally, he elaborated on plans for the proposed Bakassi deep sea port, which aims to enhance industrialization, create job opportunities, and support export-oriented industries, cargo handling, warehousing, shipping services, and regional trade integration across the Gulf of Guinea.
