Oyetola Unveils NPERA Act, Sets Stage for New Era in Port Regulation

Oyetola Unveils NPERA Act, Sets Stage for New Era in Port Regulation

CAPTION 

L-R: Deputy Chairman, House Committee on Maritime Safety, Education and Administration, Hon. Odudoh Uduak; Chairman, Senate Committee on Marine Transport, Senator Wasiu Eshinlokun; Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola; Permanent Secretary, Federal Ministry of Marine and Blue Economy, Mrs Fatima Mahmood and Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola at the 2026 World Maritime Day in Lagos, on Friday.

... Directs NIMASA to Fast-Track Cabotage Fund Disbursement to Qualified Applicants

Bisi Akingbade 

The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, has unveiled the gazetted Nigeria Ports Economic Regulatory Agency, NPERA,  Act, 2026, and the agency’s official logo, marking a significant milestone in an efforts to strengthen port economic regulation, attract investment and enhance Nigeria’s maritime competitiveness.

Oyetola made the announcement on Friday at the Federal Ministry of Marine and Blue Economy’s Third Quarter 2026 Citizens’ and Stakeholders’ Engagement in Victoria Island, Lagos, where he reaffirmed the Federal Government’s commitment to comprehensive port reforms and sustainable growth in the maritime sector.

The engagement, 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 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.

According to the press statement made issued by the Special Adviser to the Honourable Minister, Federal Ministry of Marine and Blue Economy, Dr. Bolaji Akinola stated 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 him, 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 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 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.

The development, he said, reflected 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 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, the minister cited Nigeria’s election to Category C of the International Maritime Organization 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 Ambassador, Embassy of the Kingdom of Denmark in Nigeria, Jens Ole Bach Hansen, did a presentation on Denmark’s Experience in Building a Sustainable Blue Economy: Lessons for Strategic Partnerships, Investment and Technology Transfer with Nigeria.”