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By Lizzy Chirkpi
Minister of Marine and Blue Economy, Gboyega Oyetola, has commended President Bola Ahmed Tinubu for assenting to the Nigerian Ports Economic Regulatory Agency (NPERA) Bill, 2026.
Oyetola described the legislation as a landmark development that will establish a dedicated, robust and independent economic regulator for Nigeria’s ports.
The minister expressed his appreciation in a post on his X account following the President’s assent, describing the development as a significant step towards strengthening the regulatory framework of the maritime sector.
“I thank His Excellency, President Bola Ahmed Tinubu, GCFR, for assenting to the Nigerian Ports Economic Regulatory Agency (NPERA) Bill, 2026, paving the way for a dedicated, robust and independent economic regulator for our ports,” Oyetola said.
According to the minister, the new law will strengthen the regulation of key aspects of port operations, including tariffs, charges, competition, licensing and the resolution of commercial disputes.
“This landmark legislation will strengthen the regulation of tariffs, charges, competition, licensing and commercial disputes, bringing greater certainty, transparency and efficiency to Nigeria’s port sector,” he said.
Oyetola said the legislation would also contribute to the Federal Government’s efforts to position Nigeria’s maritime industry as a globally competitive sector and unlock the economic potential of the country’s Blue Economy.
“It is a significant step towards building a globally competitive maritime economy and unlocking the full potential of Nigeria’s Blue Economy,” the minister said.
He further thanked Tinubu for what he described as visionary leadership and commitment to transforming the maritime sector.
“Thank you, Mr President, for your visionary leadership and commitment to transforming our maritime sector,” Oyetola said.
The establishment of a dedicated economic regulator is expected to provide a clearer and more predictable regulatory framework for port-related commercial activities, while promoting transparency, efficiency and fair competition.
The new framework is also expected to strengthen investor confidence and support the sustainable growth of Nigeria’s maritime economy.