Nigeria Gets Its First Statutory Port Regulator as Oyetola Presents NPERA Act and Logo

Nigeria Gets Its First Statutory Port Regulator as Oyetola Presents NPERA Act and Logo

Funke Akinbobola

LAGOS, October 16, 2026. The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, on Friday presented the gazetted Nigeria Ports Economic Regulatory Agency (NPERA) Act, 2026, and the agency’s official logo.

He spoke in Victoria Island, Lagos, at the Third Quarter 2026 Citizens’ and Stakeholders’ Engagement of the Federal Ministry of Marine and Blue Economy. The event ran under the theme “Building Strategic Bilateral Partnerships for Sustainable Growth, Investment, and Technology of Nigeria’s Marine and Blue Economy.” Government officials, industry leaders and development partners attended.

Oyetola said the law gives port economic regulation a firm legal base after nearly 20 years of effort. President Bola Ahmed Tinubu signed the Act in June 2026. The Nigerian Shippers’ Council has acted as interim regulator since 2014. The minister has ordered a ministerial committee to oversee its transition into the new agency.

NPERA will regulate tariffs and charges, promote competition, enforce service standards, settle commercial disputes and protect port users. Oyetola said the agency must stay independent and impartial. “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,” he said. He told it to act as a neutral arbiter with no competing regulatory or operational duties.

On infrastructure, the minister said the government will modernise the Apapa, Tin Can Island, Onne, Rivers, Delta and Calabar ports. He said ports outside Lagos matter just as much to the economy. The government has also approved the Ibom, Bakassi, Agge, Gateway, Ondo and Bonny Deep Seaports to add capacity.

On security, Oyetola said Nigeria has recorded zero piracy incidents in its territorial waters through the Deep Blue Project. He called the August 2026 lifting of the 12-year United States Coast Guard Condition of Entry on vessels from Nigeria a major gain. He said it reflects progress on maritime security and compliance with the International Ship and Port Facility Security Code.

He also directed the Nigerian Maritime Administration and Safety Agency to work with approved Primary Lending Institutions. The goal is to speed up approval and payment of the Cabotage Vessel Financing Fund to qualified applicants, in support of local shipping.

Oyetola noted Nigeria’s election to Category C of the International Maritime Organization Council in November 2025. He said talks continue with Denmark, India, Norway and the United Kingdom. “Our approach to international cooperation is purposeful and results-oriented,” he said. He added that partnerships must build local capacity and deliver measurable results.

The Danish Ambassador to Nigeria, Jens Ole Bach Hansen, gave a presentation on Denmark’s experience in building a sustainable blue economy. He spoke on lessons for partnerships, investment and technology transfer with Nigeria.