L-R: Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, unveiling the newly gazetted Nigerian Ports Economic Regulatory Agency (NPERA) Act, 2026 and the new agency’s logo at the third quarter stakeholders engagement of the Federal Ministry of Marine and Blue Economy, in Victoria Island, Lagos, on Friday.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has directed the immediate constitution of a ministerial committee to oversee the transition of the Nigerian Shippers’ Council (NSC) into the Nigeria Ports Economic Regulatory Agency (NPERA), following the gazetting of the NPERA Act 2026.
Oyetola announced this on Friday at the third-quarter citizens’ and stakeholders’ engagement of the Federal Ministry of Marine and Blue Economy in Lagos, where he unveiled the newly gazetted Act and the agency’s official logo.
The minister said the transition was aimed at establishing an independent, impartial and transparent framework for economic regulation in Nigeria’s port sector.
According to him, the development followed President Bola Ahmed Tinubu’s assent to the legislation in June 2026, marking a new phase in the government’s efforts to strengthen port regulation, improve investor confidence and enhance the competitiveness of the maritime industry.
Oyetola also highlighted ongoing efforts to modernise Apapa, Tin Can Island, Onne, Rivers, Delta and Calabar ports, alongside plans to develop six deep seaports in Ibom, Bakassi, Agge, Gateway, Ondo and Bonny.
He said the port development initiatives were intended to expand Nigeria’s maritime capacity and strengthen the country’s position as a regional logistics hub.
On maritime security, the minister cited the reported absence of piracy incidents in Nigeria’s territorial waters and the lifting of the United States Coast Guard’s 12-year Condition of Entry restrictions in August 2026 as developments supporting safer and more efficient shipping.
The restrictions had been a concern for maritime stakeholders because of their implications for vessels calling at Nigerian ports. Their reported removal represents a development in efforts to improve confidence in the country’s maritime security environment.
The minister further reiterated the government’s commitment to improving access to the Cabotage Vessel Financing Fund (CVFF) for qualified indigenous operators, alongside measures to strengthen local participation in the shipping industry.
He also identified international partnerships with countries including Denmark, India, Norway and the United Kingdom as part of the government’s strategy to attract investment, facilitate technology transfer and develop Nigeria’s marine and blue economy.
Oyetola said the government remained committed to building a transparent and competitive maritime sector capable of attracting investment, expanding opportunities for local operators and supporting sustainable economic growth.
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