Ukorebi Esien | May 6, 2026
CALABAR – The Chartered Institute of Logistics and Transport (CILT) has called for the urgent formalisation of trade activities along the Gulf of Guinea, stressing that Nigeria is losing significant revenue to informal cross-border commerce despite its dominant position in the region.
This formed the central thrust of deliberations at the 2026 Cross River State Conference of CILT, where maritime experts, government officials, and industry stakeholders converged to chart a path for unlocking the economic potential of coastal trade.
National President of CILT Nigeria, Dr. Boboye Oyeyemi, said Nigeria must take deliberate steps to convert the high volume of informal trade across littoral countries into structured economic activity that contributes meaningfully to the nation’s Gross Domestic Product (GDP).
According to him, “The level of informal trade with our neighbours is very high, and Nigeria is the greatest loser. Most of these goods move by road and remain undocumented. What we need is to convert this informal trade into formal systems that will drive revenue and national prosperity.”
Oyeyemi noted that with over 800 kilometres of coastline and a strategic position within the Gulf of Guinea, Nigeria is naturally positioned to lead maritime trade in the region. He, however, identified weak indigenous shipping capacity, high port costs, regulatory bottlenecks, and poor multimodal connectivity as major constraints.
He added that, “Potential alone does not create prosperity. It is execution and policy coordination that will unlock the opportunities before us. Nigeria must take bold steps to lead in this space.”
Representing the Cross River State Governor, Senator Bassey Edet Otu, the Commissioner for Transport, Hon. Pastor Ekpenyong Ene Cobham, reaffirmed the state government’s commitment to developing its maritime sector as a driver of economic growth.
Cobham described Cross River as divinely positioned for maritime trade, noting that its coastal advantage presents a unique opportunity for regional integration and international commerce.
“Cross River State is strategically located as a gateway to the Gulf of Guinea. This is not accidental; it is a responsibility we must harness for the prosperity of our people,” he said.
He revealed that the state has already conducted a prefeasibility study on its maritime transport infrastructure, which showed that Ikang Beach in Bakassi records about 1,940 daily passengers, significantly higher than Calabar’s 827, indicating strong and growing coastal economic activity.
Cobham further highlighted the proposed Bakassi Deep Sea Port as a cornerstone of the state’s economic transformation agenda, noting that the project would unlock opportunities across agro-processing, manufacturing, logistics, shipping, and allied services.
“The Deep Sea Port is not just a maritime project; it is a catalyst for industrialisation, job creation, and improved livelihoods for Cross Riverians,” he added.
Earlier in his welcome address, the Chairman of CILT Cross River State Branch, Dr. Aniefiok Iton, said the conference was designed as a strategic platform to move maritime discourse from dialogue to implementation.
He emphasised that while the Gulf of Guinea already connects several economically viable nations, there is an urgent need to transform this natural linkage into a structured and efficient trade system.
“Our challenge is not a lack of potential, but a gap in coordination, collaboration, and strategic engagement,” Iton stated. “Too often, our resources are exported in raw form, and the value chain is lost. We must build systems that retain value, create jobs, and strengthen local economies.”
He identified key challenges facing the sector to include low indigenous participation, informal port activities, underutilised infrastructure, and security concerns along waterways.
Stakeholders at the conference unanimously agreed that strengthening regional partnerships, harmonising trade systems, investing in infrastructure, and improving maritime security are critical to repositioning Nigeria and Cross River State as leaders in coastal trade within the Gulf of Guinea.
The conference, themed “Promoting Coastal Maritime Trade with Littoral Countries along the Gulf of Guinea,” brought together policymakers, security agencies, academics, and private sector players, all of whom underscored the need for urgent reforms to unlock the vast economic potential of the maritime sector.
Participants concluded that formalising trade across the Gulf of Guinea would not only boost government revenue but also drive job creation, enhance regional integration, and position Nigeria as a dominant force in Africa’s maritime economy.
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