Nigerian Port Economic Regulatory Agency Bill awaiting Presidential assent — NSC

THE Executive Secretary/ CEO of the Nigerian Shippers Council (NSC), Dr. Pius Akutah, has revealed that the Nigerian Port Economic Regulatory Agency Bill has been passed by the National Assembly and is currently awaiting presidential assent from President Bola Ahmed Tinubu.

Disclosing this while declaring open the 2025 Operational Retreat for Middle Management staff of the Council in Abeokuta, Ogun State, Dr. Akutah explained that the passage of the Bill into law will establish a strong, independent regulatory regime with enforceable legal powers, unlike the current law guiding the nation’s Port Economic regulator.

According to the NSC boss,

“Today is very significant in the sense that it is coming at the ease of the transition from the Nigerian Shippers Council to the Nigerian Port Economic Regulatory Agency.

“You are all aware of the progress we are making on the bill that has been passed by the National Assembly, which is now before Mr. President for Assent. The Nigerian Port Economic Regulatory Agency is a reflection of the current administration’s concerted efforts to create a more structured and efficient port regulatory system in Nigeria.

“Now, you also know that Mr. President is committed to not only dealing with regulatory issues in this sector, but also looking at the blue economy in general, and that is why he created the Ministry of Marine and Blue Economy.

“And you know that our Minister is also very focused and has been driving the Ministry towards excellence.

Just recently, we have just concluded all efforts on the national policy of the Ministry of Marine and Blue Economy.

“This agency, coming on board at this time, is to further strengthen our resolve and efforts towards regulating this sector to a more prosperous Nigeria.

“Essentially, the passage of that bill will establish a strong, independent regulatory regime with enforceable legal powers, unlike the current law. You know that in that law, there are some legal provisions that even have to do with criminal prosecutions.

“On our part, in our current status, we have continued to work seriously for the industry by reducing arbitrary charges, enhanced stakeholders’ engagement, and robust dispute resolutions.

We have never stopped.

Even as we have transited, we are still working very hard.

“This transition, while fully operational, will be an evolutionary case study in Nigeria’s maritime and port regulatory framework. We are fully supported and encouraged by the Minister of Marine and Blue Economy, His Excellency Adegboyega Oy-etola, in our Blue Economy journey. Our sister agencies are also supporting us fully in this regard.