Nigeria unveils NPERA Act to regulate port economics

Nigeria’s Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, has unveiled the gazetted Nigeria Ports Economic Regulatory Agency (NPERA) Act, 2026. This legislation establishes a statutory framework for port economic regulation, following President Bola Ahmed Tinubu’s assent in June 2026. To facilitate the transition, a ministerial committee has been ordered to oversee the movement of the Nigerian Shippers’ Council into the new regulatory body.

The NPERA is tasked with regulating tariffs, promoting competition, enforcing service standards, and resolving commercial disputes. The minister emphasized that the agency must operate with independence and impartiality to maintain credibility.

In a separate effort to bolster the maritime sector, Oyetola directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to accelerate the disbursement of the Cabotage Vessel Financing Fund (CVFF). This fund is intended to support indigenous shipowners, strengthen the national fleet, and encourage investment in shipbuilding and maritime logistics.

Additionally, industry leaders have called for an integrated framework to ensure that Nigeria’s blue economy policies translate into measurable economic benefits, focusing on areas such as maritime trade, fisheries, and environmental sustainability.