Oyetola Unveils Gazetted NPERA Act, Logo, Declares New Dawn For Port Regulation
Oyetola Unveils Gazetted NPERA Act, Logo, Declares New Dawn For Port Regulation
…Says Era of Arbitrary Charges Over, Vows Balanced Port Modernisation Nationwide.
By Success Okezie
In a landmark move set to transform Nigeria’s maritime sector, the Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, has officially unveiled the newly gazetted Nigeria Ports Economic Regulatory Agency (NPERA) Act, 2026, alongside the Agency’s official logo.
The Minister described the development as a historic milestone that will strengthen port regulation, boost investor confidence, eliminate arbitrariness in port charges and reposition Nigeria as a competitive maritime hub in Africa.
Dr. Oyetola made the unveiling 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 high-level engagement, themed: “Building Strategic Bilateral Partnerships for Sustainable Growth, Investment, and Technology of Nigeria’s Marine and Blue Economy,” drew top government officials, industry captains, development partners, diplomats and key stakeholders who gathered to chart a new course for investment and reforms in the nation’s vast blue economy.
Speaking at the event, Oyetola said the enactment of the NPERA Act, following President Bola Ahmed Tinubu’s assent in June 2026, finally provides a substantive statutory framework for port economic regulation, ending nearly two decades of institutional uncertainty and advocacy for a dedicated port regulator.
He disclosed that he has directed the immediate constitution of a Ministerial Transition Committee to oversee the seamless migration of the Nigerian Shippers’ Council, which had served as interim port economic regulator since 2014, into the newly established NPERA.
According to the Minister, the new Agency is empowered to regulate tariffs and charges, promote healthy competition, enforce global service standards, resolve commercial disputes and protect the interests of port users, including shippers, terminal operators and freight forwarders.
“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 declared.
He therefore charged the Agency to operate strictly as an impartial arbiter, completely free from competing operational responsibilities that could compromise its integrity.
On port infrastructure development, Oyetola unveiled a comprehensive modernisation plan targeting major ports across the country, including Apapa, Tin Can Island, Onne, Rivers, Delta and Calabar Ports, assuring that the exercise will be equitable and inclusive.
“No part of our national port system will be left behind in this modernisation programme,” he assured, stressing that ports outside Lagos remain critical to Nigeria’s economic diversification and balanced regional development.
He further revealed that the Federal Government has approved the development of six new Deep Seaports – Ibom, Bakassi, Agge, Gateway, Ondo and Bonny – as part of efforts to expand maritime capacity, decongest existing ports and strengthen Nigeria’s position as a regional logistics and transhipment hub.
On maritime security, the Minister said Nigeria has sustained zero piracy incidents in its territorial waters through the effective implementation of the Deep Blue Project. He described the recent lifting of the 12-year United States Coast Guard Condition of Entry (COE) on vessels arriving from Nigeria in August 2026 as a monumental achievement that validates Nigeria’s improved compliance with the International Ship and Port Facility Security (ISPS) Code.
Reaffirming the Federal Government’s commitment to indigenous shipping capacity, Oyetola disclosed that he has directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to work closely with approved Primary Lending Institutions (PLIs) to fast-track the processing and disbursement of the Cabotage Vessel Financing Fund (CVFF) to qualified Nigerian shipowners.
Highlighting the importance of strategic global partnerships, the Minister cited Nigeria’s election into Category C of the International Maritime Organization (IMO) Council in November 2025 and ongoing productive engagements with maritime powers such as Denmark, India, Norway and the United Kingdom.
“Our approach to international cooperation is purposeful and results-oriented,” he said, noting that partnerships must be anchored on technology transfer, capacity building and measurable, sustainable outcomes for Nigeria.
The highpoint of the engagement was a keynote 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.”
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