NPERA Bill: Nigeria Losing 250billionUSD to Unregulated Ports System, Stakeholders Tell President Tinubu
President Bola Tinubu (right) and Elder Asu Beks, Convener of Maritime Elders Forum
Maritime stakeholders, under the aegis of the Maritime Elders Forum, have appealed to President Bola Ahmed Tinubu to urgently sign the Nigerian Shipping and Ports Economic Regulatory Agency, (NPERA), Bill into law, warning that continued delay is costing Nigeria 250billionUSD of lost revenue and investments.
In an open letter dated December 29, 2025, and signed by the Convener of the Forum, Elder Asu Beks, the group commended President Tinubu for what it described as bold and people-focused leadership amid Nigeria’s economic and security challenges.
The elders praised the President’s economic reforms, particularly the abolition of fuel subsidy, increased crude oil production to about 1.8 million barrels per day, and the disappearance of fuel queues nationwide. They also highlighted the creation of the Ministry of Marine and Blue Economy as one of the most significant milestones of the administration.
According to the Forum, the establishment of the specialised ministry has already begun to yield dividends, citing Nigeria’s recent election into Category ‘C’ of the International Maritime Organisation (IMO) after nine failed attempts over 14 years.
They attributed the victory to renewed focus and political will at the highest level of government.
The elders further applauded the introduction of the National Single Window platform, scheduled to commence in the first quarter of 2026, describing it as a game-changing digital trade facilitation tool that will eliminate multiple entries and bureaucratic bottlenecks at Nigerian seaports.
Despite these gains, the Forum warned that the absence of a strong legal and economic regulatory framework for the ports sector threatens to erode the benefits of the Blue Economy agenda. They argued that this gap makes the urgent signing of the NPERA Bill imperative.
The Bill seeks to transform the Nigerian Shippers’ Council into an independent and powerful economic regulator for the nation’s ports, with authority over tariffs, charges, fair competition and efficiency in a post-concession era. The proposed law, sponsored by Speaker of the House of Representatives, Tajudeen Abbas, aims to repeal the existing Nigerian Shippers’ Council Act and align port regulation with global best practices.
According to the Maritime Elders Forum, the National Assembly passed the Bill on April 10, 2025, following accelerated consideration by both chambers, but it is yet to receive presidential assent.
They warned that the continued absence of an effective ports economic regulator has resulted in massive financial leakages, arbitrary charges by terminal operators and shipping lines, and declining investor confidence.
The group claimed Nigeria is losing billions of dollars daily and up to $250 billion annually in local and foreign investments due to inefficiencies in the unregulated ports system.
“In essence, a Ministry of Marine and Blue Economy without an economic regulator is like a football match without a referee”, the letter stated, stressing that the current situation allows inefficiency and arbitrariness to thrive.
The elders concluded by urging President Tinubu to make the signing of the NPERA Bill a New Year gift to maritime stakeholders, saying the move would cement his legacy as a leader committed to unlocking Nigeria’s maritime and blue economy potential beyond oil.
