Maritime stakeholders under the aegis of the Maritime Elders Forum have called on President Bola Ahmed Tinubu to urgently assent to the Nigerian Ports Economic Regulatory Agency (NPERA) Bill, warning that continued delay is costing the country billions of dollars and weakening ongoing reforms in the maritime sector.
In an open letter to the President, the Forum’s Convener and Chief Executive Officer of Maritime Media Limited, Elder Asu Beks, appealed for the Bill to be signed as a New Year gift to the maritime industry. He, however, commended Tinubu for what he described as bold and historic reforms across key sectors of the economy, particularly in oil and gas and naval administration.
According to the Forum, the President’s decision to remove fuel subsidy, increase crude oil production to about 1.8 million barrels per day, and eliminate persistent fuel queues demonstrates an administration committed to long-term economic renewal. The group also lauded the creation of the Ministry of Marine and Blue Economy, describing it as a long-overdue milestone since Nigeria’s independence.
The Forum noted that the impact of the new ministry is already being felt, citing Nigeria’s recent election into Category “C” of the International Maritime Organisation (IMO) after nine unsuccessful attempts over 14 years. It also highlighted the introduction of the National Single Window platform, scheduled to commence in the first quarter of 2026, which is expected to streamline port transactions by eliminating multiple data entries and reducing bureaucratic bottlenecks.
Despite these gains, maritime stakeholders warned that the absence of a strong legal framework for port economic regulation threatens to undermine progress in the sector.
“The Ministry of Marine and Blue Economy without an economic regulator is like a football match without a referee,” the letter stated, noting that the regulatory gap has encouraged arbitrariness, inefficiency and revenue leakages within the port system.
The NPERA Bill, which seeks to transform the Nigerian Shippers’ Council into an independent economic regulator for ports, was passed by both chambers of the National Assembly on April 10, 2025, and transmitted to the President for assent. Sponsored by the Speaker of the House of Representatives, Dr Tajudeen Abbas, the Bill proposes the repeal of the existing Nigerian Shippers’ Council Act and the establishment of a comprehensive framework for tariff regulation, fair competition and investment protection in the post-concession era.
The Maritime Elders Forum warned that Nigeria is losing billions of dollars annually due to unregulated port operations, with estimates suggesting losses of up to $250 billion each year arising from inefficiencies, arbitrary charges by terminal operators and shipping lines, as well as declining investor confidence.
The Forum argued that critical sectors such as banking, petroleum, energy and telecommunications already operate under strong economic regulatory frameworks, making the continued absence of one in the maritime sector both costly and unsustainable.
“The delay in assenting to this Bill has resulted in significant economic losses and continues to deter both local and foreign investment,” the group said, urging President Tinubu to sign the NPERA Bill without further delay.
