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, reaffirming the Federal Government’s commitment to transparent port regulation, infrastructure modernisation and improved maritime competitiveness.
Oyetola made the announcement on Friday at the Third Quarter 2026 Citizens’ and Stakeholders’ Engagement of the Federal Ministry of Marine and Blue Economy in Victoria Island, Lagos.
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 reforms, investment opportunities and sustainable growth in the sector.
The minister described the enactment of the NPERA Act, following President Bola Ahmed Tinubu’s assent in June 2026, as a major milestone in Nigeria’s efforts to establish a substantive legal framework for port economic regulation after nearly two decades of institutional development.
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 the interim port economic regulator since 2014, into the new agency.
According to Oyetola, NPERA will regulate port tariffs and charges, promote fair competition, enforce service standards, resolve commercial disputes and protect the interests of port users.
He stressed that the agency’s effectiveness would depend on its independence, impartiality and freedom from conflicting regulatory and operational responsibilities.
“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.
Oyetola consequently charged the agency to operate as an impartial arbiter, ensuring fairness, transparency and accountability across Nigeria’s port system.
On infrastructure development, the minister reiterated the Federal Government’s commitment to modernising Apapa, Tin Can Island, Onne, Rivers, Delta and Calabar ports, stressing that the programme would promote balanced development across the country.
“No part of our national port system will be left behind in this modernisation programme,” he declared, underscoring the importance of ports outside Lagos to Nigeria’s economic growth.
He also disclosed that the Federal Government had approved the development of the Ibom, Bakassi, Agge, Gateway, Ondo and Bonny Deep Seaports as part of efforts to expand port capacity, attract investment and position Nigeria as a regional logistics hub.
On maritime security, Oyetola said Nigeria had sustained zero piracy incidents in its territorial waters through the Deep Blue Project. He also highlighted the lifting of the United States Coast Guard’s 12-year Condition of Entry on vessels arriving from Nigeria in August 2026 as a significant achievement.
According to him, the development demonstrates progress in maritime security and compliance with the International Ship and Port Facility Security Code.
The minister further reaffirmed the government’s commitment to strengthening 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.
On international cooperation, Oyetola highlighted 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, emphasising that international partnerships must strengthen domestic capabilities and deliver measurable, sustainable outcomes.
In a presentation at the engagement, the Ambassador of the Kingdom of Denmark to Nigeria, Jens Ole Bach Hansen, shared Denmark’s experience in building a sustainable blue economy, highlighting lessons for strategic partnerships, investment and technology transfer with Nigeria.
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