NPERA Takes Off As Oyetola Unveils Regulatory Framework For Ports

NPERA Takes Off As Oyetola Unveils Regulatory Framework For Ports

By Prince Benson Davies

The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, has unveiled the newly gazetted Nigeria Ports Economic Regulatory Agency Act, 2026, and its official logo, describing it as a major step towards strengthening port economic regulation and improving Nigeria’s maritime competitiveness.

The unveiling was done 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 forum, themed Building Strategic Bilateral Partnerships for Sustainable Growth, Investment, and Technology of Nigeria’s Marine and Blue Economy, attracted government officials, industry leaders, development partners and stakeholders across the maritime value chain to deliberate on investment opportunities and sectoral reforms.

Dr. Oyetola said the enactment of the NPERA Act, following the assent of President Bola Ahmed Tinubu in June 2026, has finally provided a substantive statutory framework for port economic regulation after nearly two decades of advocacy and institutional efforts.

He disclosed that he had directed the immediate constitution of a ministerial committee to oversee the transition of the Nigerian Shippers’ Council, which has served as interim port economic regulator since 2014, into the newly established agency.

According to the Minister, the new agency will be saddled with the responsibility of regulating tariffs and charges, promoting healthy competition, enforcing service standards, resolving commercial disputes and safeguarding the interests of port users.

He stressed that for the agency to earn public trust and investor confidence, it must operate with independence and impartiality.

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 function as an impartial arbiter, devoid of competing operational and regulatory roles that could compromise its neutrality.

On port infrastructure, the Minister disclosed plans by the Federal Government to modernise existing ports, including Apapa, Tin Can Island, Onne, Rivers, Delta and Calabar ports, assuring that the programme would be evenly spread 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 remain critical to Nigeria’s economic future and trade facilitation objectives.

He further revealed that the Federal Government has approved the development of six new deep seaports to expand the nation’s maritime capacity and position Nigeria as a regional logistics hub. The ports are Ibom, Bakassi, Agge, Gateway, Ondo and Bonny Deep Seaports.

On maritime security, Dr. Oyetola said Nigeria has sustained zero piracy incidents in its territorial waters through the implementation of 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 significant milestone, noting that it underscores improvements in maritime security and compliance with the International Ship and Port Facility Security Code.

The Minister also reaffirmed the Federal Government’s commitment to indigenous shipping development, disclosing that he had instructed the Nigerian Maritime Administration and Safety Agency to work closely with approved Primary Lending Institutions to accelerate the processing and disbursement of the Cabotage Vessel Financing Fund to qualified applicants.

Speaking on international cooperation, Dr. Oyetola referenced Nigeria’s election to Category C of the International Maritime Organization Council in November 2025 and ongoing bilateral engagements with Denmark, India, Norway and the United Kingdom.

He said Nigeria’s approach to global partnerships is deliberate and focused on measurable outcomes.

Our approach to international cooperation is purposeful and results-oriented. Partnerships must strengthen local capabilities and deliver measurable, sustainable outcomes, he said.

The engagement also featured a presentation by the Ambassador of the Kingdom of Denmark to Nigeria, Mr. Jens Ole Bach Hansen, on Denmark’s Experience in Building a Sustainable Blue Economy: Lessons for Strategic Partnerships, Investment and Technology Transfer with Nigeria.