President Bola Ahmed Tinubu has assented to the Nigerian Ports Economic Regulatory Agency Bill 2026, paving the way for the establishment of a dedicated economic regulator for Nigeria's port sector.
The legislation, now known as the Nigerian Port Economic Regulatory Agency Act 2026, is designed to provide a stronger statutory framework for economic regulation across the country's ports.
The development was disclosed by the Executive Secretary and Chief Executive Officer of the Nigerian Shippers' Council, Dr Pius Akutah, who welcomed the President's assent to the legislation.
The new agency is expected to strengthen oversight of economic activities within the port industry and provide clearer rules for businesses operating across the sector.
Its responsibilities will include issues relating to tariffs, rates, charges, competition and the licensing of port service providers.
The regulator will also have responsibilities relating to the resolution of commercial disputes within the port sector, providing a more structured mechanism for addressing disagreements between industry stakeholders.
The creation of NPERA gives the port economic regulator a formal legal foundation after years in which the Nigerian Shippers' Council performed economic regulatory functions largely through government policies and regulations.
The new framework is expected to provide greater certainty for operators and investors by clearly defining the regulatory responsibilities within Nigeria's maritime industry.
The legislation also comes as the Federal Government continues efforts to improve the efficiency and competitiveness of Nigerian ports.
Efficient ports are considered important to reducing the cost of moving goods, improving trade and strengthening Nigeria's position as a regional maritime and commercial hub.
The reform could therefore have implications for importers, exporters, shipping companies, terminal operators and other businesses that depend on Nigeria's port infrastructure.
By establishing a dedicated economic regulator, the government aims to create a clearer regulatory environment for competition and commercial activity.
The law is also expected to strengthen the protection of users and operators against arbitrary charges and other practices that could undermine efficiency within the port system.
The development has been welcomed by the Minister of Marine and Blue Economy, Gboyega Oyetola, who described the legislation as a significant step towards establishing a dedicated and independent economic regulator for the ports.
The legislation followed months of legislative consideration, including the Senate's passage of an amended version of the bill in April 2026 after legal and procedural issues were addressed.
With presidential assent now secured, attention will shift towards the implementation of the new law and the establishment of the regulatory structures required to make NPERA operational.
The success of the reform will ultimately depend on how effectively the new framework improves transparency, competition, service delivery and the overall business environment within Nigerian ports.
For businesses and investors, the creation of a dedicated economic regulator could provide greater clarity over tariffs, licensing and commercial disputes.
For the wider Nigerian economy, more efficient port operations could help reduce logistics costs, support international trade and strengthen the country's maritime sector.
The signing of the NPERA Act therefore marks a significant development in Nigeria's ongoing effort to reform the regulation of its ports and make the sector more competitive.