Oyetola Unveils NPERA Act, Orders Transition to Independent Port Regulator
By Naomi Onome
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, describing the development as a major step towards strengthening port regulation, attracting investment and improving Nigeria’s maritime competitiveness.
Oyetola made the announcement on Friday, October 16, 2026, during the Third Quarter 2026 Citizens’ and Stakeholders’ Engagement of the Federal Ministry of Marine and Blue Economy in Victoria Island, Lagos.
The event, themed “Building Strategic Bilateral Partnerships for Sustainable Growth, Investment, and Technology of Nigeria’s Marine and Blue Economy,” brought together government officials, maritime industry leaders, development partners and other stakeholders to discuss investment opportunities and reforms in the sector.
According to the minister, the enactment of the NPERA Act, following President Bola Ahmed Tinubu’s assent in June 2026, provides a substantive legal framework for port economic regulation after nearly two decades of efforts to establish a dedicated regulatory institution.
He disclosed that he had directed the immediate constitution of a ministerial committee to supervise the transition of the Nigerian Shippers’ Council, which has served as the interim port economic regulator since 2014, into the new agency.
NPERA is expected to regulate port tariffs and charges, promote fair competition, enforce service standards, resolve commercial disputes and safeguard the interests of port users.
Emphasising the importance of regulatory independence, Oyetola said the agency must operate impartially and remain free from responsibilities that could create actual or perceived conflicts of interest.
“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 stated.
The minister also reaffirmed the Federal Government’s commitment to modernising Nigeria’s port infrastructure, identifying Apapa, Tin Can Island, Onne, Rivers, Delta and Calabar ports as key facilities covered by the modernisation programme.
He stressed that the initiative would promote balanced development across the country, assuring stakeholders that ports outside Lagos would receive attention.
“No part of our national port system will be left behind in this modernisation programme,” Oyetola declared.
He further disclosed that the Federal Government had approved the development of the Ibom, Bakassi, Agge, Gateway, Ondo and Bonny Deep Seaports to expand the country’s maritime capacity and strengthen its position as a regional logistics hub.
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On maritime security, Oyetola said Nigeria had sustained zero piracy incidents in its territorial waters through the Deep Blue Project.
He also described the lifting of the 12-year United States Coast Guard Condition of Entry imposed on vessels arriving from Nigeria in August 2026 as a significant achievement, attributing the development to improvements in maritime security and compliance with the International Ship and Port Facility Security Code.
The minister reiterated the government’s commitment to strengthening indigenous shipping and expanding local participation in the maritime industry.
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He disclosed that he had directed the Nigerian Maritime Administration and Safety Agency to collaborate with approved Primary Lending Institutions to accelerate the processing and disbursement of the Cabotage Vessel Financing Fund to qualified applicants.
Oyetola also highlighted the importance of international partnerships in developing Nigeria’s marine and blue economy, citing the country’s election to Category C of the International Maritime Organization Council in November 2025.
He noted that Nigeria was pursuing further cooperation with Denmark, India, Norway and the United Kingdom to attract investment, facilitate technology transfer and strengthen local capabilities.
“Our approach to international cooperation is purposeful and results-oriented,” the minister said, stressing that partnerships must deliver measurable and sustainable benefits to the country.
At the engagement, the Ambassador of the Kingdom of Denmark to Nigeria, Jens Ole Bach Hansen, delivered a presentation titled “Denmark’s Experience in Building a Sustainable Blue Economy: Lessons for Strategic Partnerships, Investment and Technology Transfer with Nigeria.”
The presentation focused on lessons Nigeria could draw from Denmark’s experience in developing a sustainable blue economy through strategic partnerships, investment and technology transfer.
The Federal Ministry of Marine and Blue Economy said the engagement formed part of its efforts to deepen stakeholder participation, strengthen international cooperation and advance reforms aimed at positioning Nigeria as a competitive maritime and logistics hub.
The press release was signed by Dr Bolaji Akinola, Special Adviser to the Minister of Marine and Blue Economy.
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