Indigenous bonded terminals and barge operators may face severe operational setbacks that could lead to their liquidation in 2026 if the government does not provide urgent policy support.

General Secretary of the Association of Bonded Terminal Operators of Nigeria (ABTON), Haruna Omolajomo, stated this, projecting a mixed outlook for the maritime industry sub-sector for the coming year.

Omolajomo, who is also the Managing Director of Harsecom Logistics Limited, warned that while there are prospects for policy and infrastructure development, local content participation, particularly in bonded terminals and barge operations, would remain weak without targeted interventions. He warned that the anticipated introduction of new federal taxes and an upward review of Customs licence fees in 2026 could further worsen the plight of bonded terminals and barge operators, who are already struggling with low patronage.

According to him, there has been no improvement in local content that encourages more cargoes to be sent to bonded terminals up until now, noting that most of them are currently operating at a capacity utilisation of less than five per cent. Omolajomo argued that without deliberate government support, these local businesses would not secure more cargo volumes and push utilisation to at least 25 per cent; many may be forced to shut down.

He predicted possible closure of operations, mass layoffs of workers, liquidation risks and mounting bad debts within the segment if the situation remains unaddressed.

Omolajomo expressed optimism over the $1 billion comprehensive reconstruction of major seaports in the country, including Apapa, Tin Can Island, Warri, Calabar and Port Harcourt, expected to commence in the first quarter of 2026. He said the modernisation would improve facilities, boost trade efficiency and attract foreign investments.

Omolajomo, however, expressed fear for barge operators, stating that they could fare better in 2026 if the expected port infrastructure upgrades materialise and Nigeria maximises its new IMO Council status.

He urged the government to address current challenges, such as dilapidated jetties, a lack of holding bays for empty containers, substandard equipment, rickety barges, and weak regulation, which have contributed to frequent water transport accidents. Omolajomo further emphasised the need for a structured call-up system for barge access to ports to end chaos and operational delays.

“I will expect Nigeria to look at the poor or lack of a call-up system of barge operations. Currently, there is no structured system for barge access to ports, leading to chaos and delays in operations,” he said.

He also urged the government to protect indigenous players from foreign dominance, proposing the establishment of a special maritime bank to provide soft loans to local barge operators for fleet upgrade, purchase of standard barges and smooth operational sustainability.