Oyetola unveils gazetted NPERA Act, directs transition from Shippers’ Council

By Ezurike Ugochukwu

Nigeria’s port economic regulation is set for a new phase following the unveiling of the gazetted Nigerian Ports Economic Regulatory Agency (NPERA) Act, 2026, by the Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola.

Oyetola also unveiled the agency’s corporate logo at the Ministry’s Third Quarter 2026 Citizens’ and Stakeholders’ Engagement held in Victoria Island, Lagos.

The minister described the development as a significant milestone in efforts to establish a stronger statutory framework for port economic regulation, improve investor confidence and enhance Nigeria’s competitiveness in the global maritime industry.

He said the Act, which received President Bola Ahmed Tinubu’s assent in June 2026, provides the legal foundation for strengthening oversight of economic activities within the nation’s port sector.

As part of the implementation process, Oyetola disclosed that a ministerial committee had been directed to oversee the transition of the Nigerian Shippers’ Council into NPERA, following nearly two decades of efforts to institutionalise port economic regulation in Nigeria.

The transition is expected to establish a dedicated regulatory institution with responsibility for promoting fairness, transparency and efficiency in port-related commercial activities.

The minister charged the agency to discharge its responsibilities with independence, impartiality and accountability, stressing that public confidence in port regulation would depend on its ability to act fairly and consistently.

NPERA’s responsibilities include regulating tariffs and charges, promoting fair competition, enforcing service standards, resolving commercial disputes and protecting the interests of port users.

Oyetola emphasised that the agency must operate as an impartial economic regulator, free from conflicting regulatory and operational responsibilities.

He said such separation was necessary to strengthen stakeholder confidence, promote a level playing field for maritime businesses and support sustainable growth across the sector.

The unveiling of the Act and the agency’s logo marks a significant step in the government’s efforts to institutionalise port economic regulation and improve the business environment for investors, terminal operators, shipping companies and other maritime stakeholders.

The effectiveness of the new regulatory framework will depend on the successful transition from the Nigerian Shippers’ Council, the agency’s capacity to enforce applicable standards and its ability to balance the interests of service providers with those of port users.

With the implementation process underway, attention is expected to focus on the transition arrangements and the practical measures NPERA will adopt to promote transparent pricing, fair competition and improved service delivery across Nigeria’s ports.