Lekki Deep Seaport, Nigeria’s biggest seaport.

Nigeria’s port economic regulation has entered a new phase as the Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, CON, officially unveiled the gazetted Nigerian Ports Economic Regulatory Agency NPERA, Act, 2026, alongside the Agency’s corporate logo.

The unveiling took place on Friday at the Ministry’s Third Quarter 2026 Citizens’ and Stakeholders’ Engagement in Victoria Island, Lagos.

Describing the development as a major milestone, Oyetola said the Act, which received President Bola Ahmed Tinubu’s assent in June 2026, provides a statutory framework for strengthening port regulation, boosting investor confidence, and improving Nigeria’s maritime competitiveness. He also 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.

The Minister charged NPERA to uphold independence, impartiality, and accountability in discharging its responsibilities, which include regulating tariffs and charges, promoting fair competition, enforcing service standards, resolving commercial disputes, and protecting port users’ interests.

He stressed that the Agency must operate as an impartial regulator, free from conflicting regulatory and operational responsibilities, to build stakeholder confidence and promote sustainable growth in Nigeria’s maritime sector.