Nigeria’s Ports Enter New Regulatory Era as Oyetola Unveils Gazetted NPERA Act, Logo
The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, has unveiled the newly gazetted Nigeria Ports Economic Regulatory Agency (NPERA) Act, 2026, alongside the agency’s official logo, marking a significant milestone in the country’s efforts to strengthen port regulation, boost investor confidence, and enhance maritime competitiveness.
The unveiling took place on Friday at the Third Quarter 2026 Citizens’ and Stakeholders’ Engagement of the Federal Ministry of Marine and Blue Economy, held in Victoria Island, Lagos. The event was themed “Building Strategic Bilateral Partnerships for Sustainable Growth, Investment, and Technology of Nigeria’s Marine and Blue Economy.”
In a statement signed by Dr. Bolaji Akinola, the Special Adviser to Hon. Minister, Oyetola said the enactment of the NPERA Act, following President Bola Ahmed Tinubu’s assent in June 2026, established a substantive statutory framework for port economic regulation after nearly two decades of efforts to institutionalise the function.
He disclosed that he had directed the immediate constitution of a ministerial committee to oversee the transition of the Nigerian Shippers’ Council, which had served as interim port economic regulator since 2014, into the new agency.
According to the Minister, NPERA will be responsible for regulating tariffs and charges, promoting competition, enforcing service standards, resolving commercial disputes, and protecting port users’ interests.
“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,” Oyetola stated, directing the agency to operate as an impartial arbiter free from competing regulatory and operational responsibilities.
On port infrastructure, the Minister highlighted plans to modernise Apapa, Tin Can Island, Onne, Rivers, Delta, and Calabar ports, stressing that the programme would ensure balanced development across the country.
“No part of our national port system will be left behind in this modernisation programme,” he declared, adding that ports outside Lagos were equally important to Nigeria’s economic future.
He also disclosed that the Federal Government had approved the development of the 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 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 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 approved Primary Lending Institutions to accelerate the processing and disbursement of the Cabotage Vessel Financing Fund to qualified applicants.
Emphasising international cooperation, Oyetola cited Nigeria’s election to Category C of the International Maritime Organization (IMO) Council in November 2025 and ongoing engagements with Denmark, India, Norway, and the United Kingdom. “Our approach to international cooperation is purposeful and results-oriented,” he said, noting that partnerships must strengthen local capabilities and deliver measurable, sustainable outcomes.
The event also featured a presentation by the Ambassador of the Embassy of the Kingdom of Denmark in Nigeria, Jens Ole Bach Hansen, on “Denmark’s Experience in Building a Sustainable Blue Economy: Lessons for Strategic Partnerships, Investment, and Technology Transfer with Nigeria.”
