President Bola Ahmed Tinubu has approved the Nigerian Ports Economic Regulatory Agency (NPERA) Bill 2026, paving the way for the establishment of a dedicated economic regulatory body for Nigeria’s port sector.
The development was disclosed by the Executive Secretary and Chief Executive Officer of the Nigerian Shippers’ Council (NSC), Dr Pius Akutah, in a social media post on Wednesday.
The proposed agency is expected to provide a dedicated statutory framework for regulating economic activities within Nigeria’s ports and define the powers and responsibilities of the sector’s economic regulator.
NEW FRAMEWORK FOR PORT ECONOMIC REGULATION
The approval marks a significant step in the Federal Government’s longstanding effort to establish a permanent legal and institutional framework for economic regulation in the maritime sector.
Following the concession of Nigeria’s ports, the Nigerian Shippers’ Council was designated in 2014 to perform the role of interim economic regulator.
However, the Council’s regulatory responsibilities have largely operated under government policies and existing regulations, in the absence of a dedicated Act granting it comprehensive statutory authority as the sector’s economic regulator.
The new legislation is expected to address this regulatory gap by establishing clearer legal provisions for economic activities across the port system.
AREAS EXPECTED TO BE COVERED
The proposed regulatory framework is expected to cover key areas including port tariffs, charges and rates, competition, licensing of service providers and the resolution of commercial disputes.
It is also expected to strengthen oversight of businesses and operators involved in Nigeria’s port ecosystem, including terminal operators, shipping companies, freight forwarders and other maritime service providers.
The legislation could provide greater clarity on the responsibilities of economic regulators and operators while creating mechanisms for addressing commercial disputes and promoting fair competition within the sector.
IMPLICATIONS FOR NIGERIA’S MARITIME SECTOR
The establishment of a dedicated economic regulator is expected to strengthen the legal foundation for regulating Nigeria’s ports and potentially improve transparency and accountability in the sector.
It also comes as the Federal Government continues efforts to improve the efficiency and competitiveness of Nigeria’s maritime industry and attract greater investment into the country’s port infrastructure and services.
Further details on the implementation of the NPERA framework, including the structure, powers and operational relationship between the new agency and existing maritime institutions, are expected to emerge as the legislation takes effect.
AIV NEWS will continue to monitor developments and provide verified updates on Nigeria’s maritime sector.
