NPERA Act 2026: FG Unveils New Port Regulatory Agency

The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, unveiled the new gazetted Nigeria Ports Economic Regulatory Agency (NPERA) Act, 2026, along with the official logo of the agency, describing the development as a significant milestone in efforts to strengthen port regulation, increase investor confidence and improve Nigeria’s maritime competitiveness.

Oyetola made the disclosure on Friday at the Federal Ministry of Marine and Blue Economy’s Third Quarter 2026 Citizens and Stakeholders Engagement, held in Victoria Island, Lagos.

The meeting, themed “Building Strategic Bilateral Partnerships for Sustainable Growth, Investment and Technology of Nigeria’s Marine and Blue Economy”, brought together government officials, industry leaders, development partners and other stakeholders to discuss investment opportunities and reforms in the sector.

The minister said the enactment of the NPERA law, following the assent of President Bola Ahmed Tinubu in June 2026, established a substantial regulatory framework for port economic regulation after nearly two decades of efforts to institutionalize the function.

He disclosed that he had directed the immediate establishment of a ministerial committee to oversee the transition of the Nigerian Shippers Council, 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 trade disputes and protecting the interests of port users.

“The credibility of an economic regulator rests, in no small measure, on his independence, impartiality and freedom from liability that could give rise to real or perceived conflicts of interest,” Oyetola said.

He directed the agency to operate as an impartial arbiter, free from competing regulatory and operational responsibilities.

On port infrastructure, the minister highlighted plans to modernize the ports of Apapa, Tin Can Island, Onne, Rivers, Delta and Calabar, stressing that the program would ensure balanced development across the country.

“No part of our national port system will be left behind in this modernization programme,” he said, adding that ports outside Lagos are equally important to Nigeria’s economic future.

He also disclosed that the Federal Government has approved the development of Ibom, Bakassi, Agge, Gateway, Ondo and Bonny Deep Seaports to expand maritime capacity and strengthen Nigeria’s position as a regional logistics hub.

On maritime security, Oyetola said Nigeria has not recorded any incidents of piracy in its territorial waters through the Deep Blue project. He described the lifting of the U.S. Coast Guard’s 12-year entry condition on vessels arriving from Nigeria in August 2026 as a major accomplishment.

The development, he said, reflects progress in maritime safety and compliance with the International Ship and Port Facility Security Code.

The minister also reaffirmed government’s commitment to indigenous shipping, revealing that he had directed the Nigerian Maritime Administration and Safety Agency to partner with approved primary lending institutions to expedite the processing and disbursement of the Cabotage Vessel Financing Fund to qualified applicants.

Highlighting international cooperation, the minister cited Nigeria’s election to Category C of the Council of the International Maritime Organization in November 2025 and ongoing engagements with Denmark, India, Norway and the United Kingdom.

“Our approach to international cooperation is targeted and results-oriented,” he said, stressing that partnerships must strengthen local capacities and deliver measurable and sustainable results.

The Ambassador of the Embassy of the Kingdom of Denmark to Nigeria, Jens Ole Bach Hansen, gave a presentation on Denmark’s experience in building a sustainable blue economy: lessons for strategic partnerships, investments and technology transfer with Nigeria.