Former Minister of Interior and leading shipowner, Capt. Emmanuel Iheanacho, has said Nigeria’s maritime sector holds the strategic key to unlocking the full economic potential of the African Continental Free Trade Area (AfCFTA), describing the framework as a transformative channel for national growth.

Iheanacho stated this on Thursday in Lagos while delivering his opening address as Chairman at the launch of the Maritime Reporters Association of Nigeria (MARAN) publication, “Fifty Drivers of the Nigerian Maritime and Blue Economy.”

According to him, the maritime and blue economy is central to AfCFTA’s success, as shipping remains the primary mode for moving goods across borders in Africa. He noted that a unified continental market of **1.3 billion people** and a combined GDP of **$3.4 trillion** places Nigeria in a position to significantly expand its trade influence—if it leverages its maritime capacity effectively.

He traced the evolution of the maritime sector over the years, citing foundational milestones such as the establishment of the National Shipping Line (NNSL) in 1959, the National Maritime Authority (NMA) in 1988, and the Nigerian Maritime Administration and Safety Agency (NIMASA) in 2007. He also highlighted the Cabotage Law as a critical step in strengthening indigenous participation.

However, he noted that newer global and regional frameworks—especially AfCFTA and China’s Maritime Silk Road (MSR)—have created wider avenues for Nigeria to improve logistics systems, transportation corridors and port infrastructure.

“AfcFTA’s agenda of tariff elimination, reduced non-tariff barriers, and enhanced intra-African trade aligns perfectly with Nigeria’s maritime aspirations,” Ihenacho said. He added that the agreement presents extensive opportunities for shipowners, logistics operators, exporters, and service providers across the blue economy.

“The stupendous opportunities that would be created through AfCFTA will allow various maritime and blue economy businesses to grow, either directly or through linked multiplier effects,” he noted.

Despite the potential, Ihenacho warned that capacity constraints could undermine Nigeria’s competitiveness under AfCFTA. He listed inadequate port infrastructure, bureaucratic inefficiencies, maritime insecurity, and gaps in technical skills as challenges that must be urgently addressed.

“With the right policies and investments, AfCFTA can drive Nigeria’s economic growth, job creation and deeper regional integration,” he said.

He called for sustained innovation, collaboration and strategic planning, urging stakeholders to contribute to solutions that will position Nigeria more competitively within continental and global value chains.