- Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola (left), unveiling the Nigerian Ports Economic Regulatory Agency (NPERA) Act, 2026, and the new agency’s logo at the ministry’s third-quarter stakeholder engagement in Lagos today.
By Anthony Nwachukwu
The federal government on Friday unveiled the newly gazetted Nigeria Ports Economic Regulatory Agency (NPERA) Act, 2026, alongside the agency’s official logo, saying the development was a significant milestone in the efforts to strengthen port regulation, boost investor confidence and enhance Nigeria’s maritime competitiveness.
The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, unveiled the gazetted Act during the ministry’s Third-Quarter 2026 Citizens and Stakeholder Engagement in Lagos, with the theme, “Building Strategic Bilateral Partnerships for Sustainable Growth, Investment, and Technology of Nigeria’s Marine and Blue Economy.”
Addressing government officials, industry leaders, development partners and other stakeholders in the sector, Oyetola said the presidential assent to the NPERA Act in June 2026 established a substantive statutory framework for port economic regulation after nearly two decades of efforts to institutionalise the function.
The minister said he had directed the immediate constitution of a ministerial committee to oversee the transition of the Nigerian Shippers’ Council (NSC), which had served as the interim port economic regulator since 2014, into the new agency.
According to him, NPERA will be responsible for regulating tariffs and charges, promoting competition, enforcing service standards, resolving commercial disputes and protecting port users’ interests.
Oyetola stressed that “the credibility of an economic regulator rests, in no small measure, on its independence, impartiality and freedom from responsibilities that could give rise to actual or perceived conflicts of interest.” Therefore, he directed the agency to operate as an impartial arbiter, free from competing regulatory and operational responsibilities.
The minister further highlighted plans to modernise the Apapa, Tin Can Island, Onne, Rivers, Delta and Calabar ports to ensure balanced development across the country, stating that the ports outside Lagos are equally important to Nigeria’s economic future.
Noting that no part of Nigeria’s port system will be left behind in this modernisation programme, Oyetola also disclosed that the federal government’s approval of the development of the Ibom, Bakassi, Agge, Gateway, Ondo and Bonny Deep Seaports was to expand maritime capacity and strengthen Nigeria’s position as a regional logistics hub.
On maritime security, Oyetola noted that Nigeria had maintained zero piracy incidents in its territorial waters through the Deep Blue Project.
He described the lifting of the 12-year United States Coast Guard Condition of Entry on vessels arriving from Nigeria in August 2026 as a major achievement reflecting Nigeria’s progress in maritime security and compliance with the International Ship and Port Facility Security Code.
The minister further reaffirmed the government’s commitment to indigenous shipping, disclosing that he had directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to work with the approved Primary Lending Institutions to accelerate the processing and disbursement of the Cabotage Vessel Financing Fund to qualified applicants.
Meanwhile, citing Nigeria’s election to Category C of the International Maritime Organisation Council and ongoing engagements with Denmark, India, Norway, and the United Kingdom, the minister said the partnerships must strengthen local capabilities and deliver measurable, sustainable outcomes.
