President Bola Ahmed Tinubu has officially signed the Nigerian Ports Economic Regulatory Agency Bill into law, marking a transformative moment for the nation’s maritime sector. This new legislation paves the way for a dedicated economic regulator, a goal that has been pursued by various administrations for years following the privatization of the country’s ports.
The confirmation of the presidential assent was shared by Dr. Pius Akutah, the Executive Secretary and Chief Executive Officer of the Nigerian Shippers’ Council. Through his social media channels, he expressed his gratitude to the President for moving the legislation across the finish line. Zoyols News reports that while the full implementation framework is still being finalized, this move effectively transitions the industry from a reliance on temporary policies to a solid, statutory foundation.
For over a decade, the Nigerian Shippers’ Council had operated as an interim regulator, functioning largely through government directives rather than a formal Act. This new law changes that landscape by providing the necessary legal authority to oversee critical areas such as port tariffs, service charges, competition, and the licensing of providers. It also grants a more robust mechanism for resolving commercial disputes, which stakeholders hope will streamline operations at the ports.
The journey to this Act was far from straightforward. Earlier versions of the bill faced intense scrutiny over potential overlaps in duties with other maritime bodies, such as the Nigerian Ports Authority and the Nigerian Maritime Administration and Safety Agency. President Tinubu had previously withheld his signature to allow for necessary revisions. After a thorough review by the National Assembly to address those legal concerns, the amended version finally secured passage in April 2026, setting the stage for this week’s final approval.
