Oyetola Launches Nigerian Ports Economic Regulatory Agency

The Federal Ministry of Marine and Blue Economy unveiled the Nigerian Ports Economic Regulatory Agency (NPERA) during a stakeholders’ engagement in Lagos. Minister Oyetola directed the formation of a ministerial committee to oversee the transition from the Nigerian Shippers’ Council to NPERA, aimed at strengthening port regulation and boosting investor confidence.

Oyetola stated that NPERA represents a new chapter in Nigeria’s port economy, promoting transparency and competitiveness for maritime businesses. The Nigerian Government is modernizing several ports, including Apapa, Tin Can Island, Onne, Rivers, Delta, and Calabar, and plans to develop six deep seaports in Ibom, Bakassi, Agge, Gateway, Ondo, and Bonny to enhance port capacity.

The minister also reported progress in maritime security, with zero piracy incidents and the lifting of the US Coast Guard's restrictions in August 2026. Additionally, the government is facilitating access to the Cabotage Vessel Financing Fund for indigenous operators and fostering partnerships with Denmark, India, Norway, and the UK.