New maritime regulatory law will boost investor confidence, says MARCON
By Eberechi Obinagwam
The Maritime Correspondents’ Organisation of Nigeria (MARCON) has described the newly signed Nigerian Ports Economic Regulatory Agency (NPERA) Act, 2026 as a game changer that will significantly boost investor confidence and set the nation’s ports on the path of increased productivity, transparency and competitiveness.
In a statement issued in Lagos on Saturday, MARCON noted that the Presidential assent to the long-awaited legislation marks a decisive end to years of regulatory uncertainty that had hindered optimal performance in the port sector.
The organisation described the Act as a critical institutional reform that finally provides a dedicated statutory framework for economic regulation of Nigeria’s ports, replacing the interim arrangement under which the Nigerian Shippers’ Council (NSC) had operated since 2014.
“This is a landmark development for Nigeria’s maritime industry. The Nigerian Ports Economic Regulatory Agency Act will strengthen oversight of tariffs, rates, charges, competition and service standards. It will give the regulator clear legal powers to protect shippers, ensure fair commercial practices and resolve disputes effectively. These are the foundations needed to attract serious investment, reduce the cost of doing business and improve overall port productivity”, MARCON stated.
The association specifically commended the Executive Secretary and Chief Executive Officer of the Nigerian Shippers’ Council, Dr. Pius Akutah, for his sustained commitment and leadership in seeing the law become a reality.
It acknowledged Dr. Akutah’s consistent advocacy, stakeholder engagement and determination in navigating the complex legislative process that saw the Bill undergo revisions, repassage by the National Assembly and eventual Presidential assent.
“Dr. Akutah’s dedication to institutional reform and his unwavering focus on strengthening the regulatory framework for Nigerian ports deserve recognition,” the statement added. “His efforts have helped bring to fruition a reform that stakeholders across the industry have long demanded.”
MARCON expressed optimism that the full and timely implementation of the NPERA Act will translate into measurable improvements in port efficiency, greater predictability for investors and operators, and stronger alignment of Nigeria’s port system with global best practices.
The association called on all relevant agencies and stakeholders to support the smooth transition and operationalisation of the new regulatory regime in the interest of national economic growth and the blue economy agenda.
The law gives full legal backing to the functions previously performed on an interim basis by the Nigerian Shippers’ Council (NSC) since 2014 after the 2006 port concessions began. The NSC had relied largely on government policy and a 2015 gazette rather than a comprehensive Act.
NPERA focuses on economic regulation — tariffs, charges, competition, licensing of service providers, and commercial dispute resolution, while the Nigerian Ports Authority (NPA) continues as the landlord and technical/operational regulator.
Expected key benefits of NPERA include stronger, enforceable regulatory framework;
better control of tariffs, rates, and charges; promotion of fair competition; licensing and standards for service providers; effective commercial dispute resolution; greater transparency, predictability, and investor confidence; efficiency gains and lower logistics costs and protection of port users and support for national objectives.
It is also expected to safeguards the economic interests of shippers and cargo owners while contributing to a more credible, competitive port environment that can position Nigeria as a stronger regional maritime and logistics hub.
