Oyetola Launches Nigeria Ports Economic Regulatory Agency Act

Adegboyega Oyetola, the Minister of Marine and Blue Economy, unveiled the Nigeria Ports Economic Regulatory Agency Act, 2026, and the agency's official logo during the Third Quarter 2026 Citizens’ and Stakeholders’ Engagement in Lagos. This act, which received President Bola Tinubu's assent in June, establishes a statutory framework for port economic regulation after nearly two decades of efforts.

Oyetola announced the formation of a ministerial committee to transition the Nigerian Shippers’ Council, which has been the interim port economic regulator since 2014, into the new agency. The Nigeria Ports Economic Regulatory Agency (NPERA) will regulate tariffs, promote competition, enforce service standards, resolve commercial disputes, and protect port users' interests.

Oyetola emphasized the importance of the agency's independence and impartiality. He also noted Nigeria's success in maintaining zero piracy incidents through the Deep Blue Project and the lifting of the US Coast Guard Condition of Entry on Nigerian vessels as significant achievements in maritime security.