SEREC Urges Urgent Assent for NPERA Bill in Nigeria

The Sea Empower Research Centre (SEREC) has voiced deep concern regarding the ongoing delay in obtaining presidential assent for the Nigerian Port Economic Regulatory Authority (NPERA) Bill. In its latest policy bulletin, SEREC, led by head researcher Eugen Nweke, emphasized that Nigeria cannot afford a regulatory vacuum in its port industry.

The organization warned that the failure to conclude the legislative process by the 10th National Assembly could result in the bill lapsing, necessitating a fresh legislative process in subsequent assemblies. SEREC highlighted that Nigeria's port concession program, which has been in place since 2006, lacks a statutory independent economic regulator, leading to overlapping institutional responsibilities and investor uncertainty.

The absence of an independent regulatory authority hampers fair competition and escalates commercial disputes. SEREC stressed that the NPERA Bill is crucial for establishing a transparent and predictable framework for port tariffs and charges, which is essential for attracting private investment and enhancing Nigeria's position as a maritime logistics hub in West and Central Africa.