• BOAN demands dedicated berthing space, desk in ministry
• Oyetola directs shippers’ council to review concerns, submit recommendations

About 69 indigenous barge operators have liquidated their N211.9 billion worth of companies due to the harsh business environment, The Guardian has learnt.

At the first Citizen/Stakeholders Engagement by the Federal Ministry of Marine and Blue Economy, held in Lagos on April 2, 2026, the Barge Operators Association of Nigeria (BOAN) revealed that out of the 83 registered indigenous barge companies, about 14 are still active and struggling to operate, leaving 69 companies out of operation.

The Guardian gathered that the reason behind this include multinationals dominance of the local market, regulatory bottlenecks, multiple high charges and tariff imposed by the Nigerian Ports Authority (NPA), the Nigerian Maritime Administration and Safety Agency (NIMASA) and the terminal operators, lack of berthing spaces at the ports, inadequate access to capital, high bank interest rates for loans, and limited government support, which are pushing local operators out of business.

Other causes include operational inequalities favouring foreigners over indigenous operators, high operating costs, especially as the business is capital-intensive.

Financial Secretary and Director of Enforcement and Operations of the Barge Operators Association of Nigeria (BOAN), Nura Wagani, revealed that although 83 indigenous barge companies were registered, only eight remain actively operating.

Giving a breakdown of the total estimated capital cost of setting up a barge operation in the country, Wagani told The Guardian during a phone interview, that entry into the business is prohibitively expensive as an operator must provide N50 million to obtain a licence from the Nigerian Ports Authority (NPA).

He listed other documentation to include conservancy fee of $1,500 for equipment and tugboat fees of $1,500, totalling $3,000, as well as piloted exemption certificates, tax clearance, Corporate Affairs Commission (CAC) registration, audited accounts, and other mandatory certifications.

Head of Research, Sea Empowerment and Research Centre (SEREC), Dr Eugene Nweke, described the barge sector as one of the fastest, scalable and most cost-effective logistics alternatives for cargo evacuation, yet it remains largely underutilised and policy-neglected in national transport planning.

Nweke revealed that inefficiencies in the country’s logistics chain to trade account for between 20 and 30 per cent of cargo value, while port-related delays alone cost the economy between $7 billion and $10 billion yearly.

He further highlighted that congestion across port corridors had continued to exert a heavy toll, with supply chain disruptions exceeding N500 billion each year.

Nweke called for the establishment of a N500 billion National Barge Development Fund, to be driven through a public-private partnership financing model.

He said the proposed fund would support fleet expansion, terminal development and regulatory improvements, with a target of evacuating at least 50 per cent of cargo through inland waterways within the next five years.

Responding during a stakeholders’ engagement, the Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, directed the leadership of the Nigerian Shippers’ Council (NSC) to investigate the issues and make appropriate recommendations for the ministry’s support.