The Federal Government has unveiled the Nigeria Ports Economic Regulatory Agency (NPERA) Act, 2026, and pledged to speed up disbursement of the Cabotage Vessel Financing Fund (CVFF) to eligible indigenous shipowners to strengthen port regulation and increase native transport capability.
The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, disclosed this on the ministry’s third-quarter 2026 Citizens’ and Stakeholders’ Engagement in Lagos.
Oyetola mentioned President Bola Tinubu’s assent to the NPERA Act in June 2026 established a statutory framework for port financial regulation, geared toward selling competitors, defending port customers and boosting investor confidence.
He unveiled the company’s official emblem and introduced plans to determine a ministerial committee to supervise the transition of the Nigerian Shippers’ Council, the interim port financial regulator since 2014, into NPERA.
“The agency will regulate port tariffs and charges, enforce service standards, resolve commercial disputes and protect port users’ interests,” he mentioned.
Oyetola insisted that NPERA should function independently and impartially.
On transport finance, the minister mentioned he had directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to work with accepted Primary Lending Institutions to speed up CVFF processing and disbursement to certified candidates.
According to him, the fund is meant to enhance shipowners’ entry to vessel financing, strengthen Nigeria’s fleet and stimulate funding in shipbuilding, marine engineering and maritime logistics.
Speaking at an occasion to mark the World Maritime Day held in Lagos on the weekend, Oyetola additionally outlined plans to modernise Apapa, Tin Can Island, Onne, Rivers, Delta and Calabar ports.
He mentioned the federal government had accepted the event of the Ibom, Bakassi, Agge, Gateway, Ondo and Bonny deep seaports to increase capability and strengthen Nigeria’s place as a regional logistics hub.
On maritime safety, he cited the reported lifting of the 12-year United States Coast Guard Condition of Entry on vessels arriving from Nigeria in August 2026 as a major improvement for the nation’s maritime sector.
The minister additionally highlighted Nigeria’s worldwide maritime partnerships, together with cooperation with Denmark, India, Norway and the United Kingdom.
Danish Ambassador to Nigeria Jens Ole Bach Hansen delivered a presentation on funding, know-how switch and strategic partnerships in growing a sustainable blue economic system.
The reforms are a part of the federal government’s broader efforts to enhance port effectivity, increase indigenous transport and appeal to funding into Nigeria’s marine and blue economic system.
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