NPERA Act and Maritime Economy
NPERA has the potential to bring sanity to the maritime sector For more than four decades, Nigeria’s ports have carried the weight of a contradiction. Although they serve as the
Nigeria's maritime sector has long grappled with inefficiencies, arbitrary charges, and exploitation. For over four decades, ports have served as trade gateways but have been plagued by high tariffs, monopolistic practices, and delays. This has led to court battles and a lack of clear regulatory framework. In 2014, President Jonathan designated the Nigerian Shippers Council as the Port Economic Regulator, but opposition from the Nigerian Ports Authority and terminal operators prevented significant progress.
The NPERA Act, 2026, recently assented by President Bola Tinubu, replaces the NSC Act of 2004, empowering NPERA to regulate tariffs, licensing, service standards, competition, commercial dispute resolution, and trade facilitation. The new framework shifts the balance of power to a regulator with real authority, promising stability, inclusiveness, and improved service quality in Nigeria's maritime sector.
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