Oyetola Launches NPERA Act to Boost Nigeria's Maritime Sector

Dr Adegboyega Oyetola, the Minister of Marine and Blue Economy, announced the establishment of the NPERA Act during the ministry’s third-quarter 2026 Citizens’ and Stakeholders’ Engagement in Lagos. The Act, which received President Bola Tinubu’s assent in June 2026, creates a statutory framework for port economic regulation, aimed at promoting competition, protecting port users, and boosting investor confidence.

Oyetola unveiled the agency’s official logo and announced plans to form a ministerial committee to transition the Nigerian Shippers’ Council into NPERA. The agency will regulate port tariffs, enforce service standards, and resolve commercial disputes.

Additionally, Oyetola directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to collaborate with approved Primary Lending Institutions to expedite the processing and disbursement of the CVFF, which aims to improve shipowners' access to financing and stimulate investment in maritime logistics. The minister also outlined plans to modernize several ports and develop new deep seaports to enhance Nigeria's logistics capacity.