Oyetola Unveils NPERA Act, Logo, Says Agency Must Operate Free From Conflict Of Interest

By Stella Okocha 

The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, on Friday unveiled the gazetted Nigerian Ports Economic Regulatory Agency, NPERA, Act 2026 and the agency’s new logo, declaring a new era for port economic regulation in Nigeria.

Oyetola performed the unveiling at the Third Quarter 2026 Citizens’ and Stakeholders’ Engagement of the Federal Ministry of Marine and Blue Economy held in Victoria Island, Lagos.

The engagement was themed: “Building Strategic Bilateral Partnerships for Sustainable Growth, Investment, and Technology of Nigeria’s Marine and Blue Economy.”

The minister said the Act, assented to by President Bola Ahmed Tinubu in June 2026, provides a substantive statutory framework for port economic regulation after nearly two decades of advocacy.

He announced that he has directed the immediate constitution of a ministerial committee to oversee the transition of the Nigerian Shippers’ Council, which served as interim port economic regulator since 2014, into NPERA.

According to him, the new agency will regulate tariffs and charges, promote competition, enforce service standards, resolve commercial disputes and protect port users’ interests.

Oyetola charged the agency to operate as an impartial arbiter, warning against combining regulatory and operational roles.

“The credibility of an economic regulator rests, in no small measure, on its independence, impartiality and freedom from responsibilities that could give rise to actual or perceived conflicts of interest,” he said.

On port development, the minister said government is pushing balanced modernisation of Apapa, Tin Can Island, Onne, Rivers, Delta and Calabar ports.

“No part of our national port system will be left behind in this modernisation programme,” he said.

He disclosed that the Federal Government has also approved development of six deep seaports – Ibom, Bakassi, Agge, Gateway, Ondo and Bonny – to expand capacity and position Nigeria as a regional logistics hub.

On maritime security, Oyetola said Nigeria has sustained zero piracy incidents in its territorial waters through the Deep Blue Project, and cited the lifting of the 12-year United States Coast Guard Condition of Entry on vessels from Nigeria in August 2026 as proof of improved compliance with the ISPS Code.

He also reiterated commitment to indigenous shipping, disclosing a directive to NIMASA to work with Primary Lending Institutions to fast-track disbursement of the Cabotage Vessel Financing Fund, CVFF, to qualified applicants.

On international partnerships, Oyetola referenced Nigeria’s election to Category C of the IMO Council in November 2025 and ongoing engagements with Denmark, India, Norway and the United Kingdom.

“Our approach to international cooperation is purposeful and results-oriented,” he said.

The event featured a presentation by the Danish Ambassador to Nigeria, Jens Ole Bach Hansen, on “Denmark’s Experience in Building a Sustainable Blue Economy: Lessons for Strategic Partnerships, Investment and Technology Transfer with Nigeria.”