Nigerian Terminal Operator Reports 30% Surge in Export Volumes

Lagos-based port operator ABC Terminals has recorded a remarkable 30% year-on-year increase in export volumes during the first half of 2024, according to newly released operational data. The surge comes as Nigeria’s non-oil export sector shows signs of robust growth following government interventions to diversify the economy.

The terminal, which handles agricultural commodities, solid minerals, and manufactured goods at Apapa Port, processed 450,000 tonnes of exports between January and June 2024, up from 346,000 tonnes during the same period last year. The biggest growth came in three key sectors:

1. **Agricultural Products** (42% increase): Particularly cocoa, sesame seeds, and cashew nuts
2. **Solid Minerals** (35% rise): With lithium and tin concentrates leading the growth
3. **Manufactured Goods** (18% boost): Including processed foods and automotive parts

Managing Director Tunde Ogunlesi attributed the performance to several factors: “Our investment in modern cargo handling equipment, streamlined customs processes, and specialized storage facilities for temperature-sensitive goods have positioned us as the preferred terminal for export-oriented businesses.”

The Nigerian Export Promotion Council (NEPC) welcomed the figures as evidence that export diversification initiatives are gaining traction. “This 30% growth at ABC Terminals mirrors our national export trends,” said NEPC Executive Director Ezra Yakusak. “With the Africa Continental Free Trade Agreement gaining momentum, we’re seeing Nigerian products become more competitive regionally.”

Industry analysts note that the terminal’s performance outpaces the national average export growth of 22% for non-oil products, suggesting it is gaining market share. The company recently completed a $50 million expansion project that increased its annual handling capacity to 1.2 million tonnes.

Challenges remain, however, with exporters continuing to cite high logistics costs and inconsistent power supply as constraints. ABC Terminals has responded by introducing a 24-hour operations schedule and partnering with trucking companies to improve hinterland connectivity.

As Nigeria pushes to reduce its reliance on crude oil exports, the strong performance at Lagos ports suggests the country’s trade rebalancing efforts may finally be yielding tangible results. ABC Terminals expects to maintain this growth trajectory through the second half of 2024, with projections of handling over 1 million tonnes by year-end.