NIGERIAN SHIPPING PORT ECONOMIC REGULATORY AGENCY BILL
Bill · Trade
Policy date: 2025-04-10
A Bill transforms the Nigerian Shippers' Council into an independent economic regulator for ports, overseeing tariffs, competition, and efficiency. It targets shipping companies, terminal operators, freight forwarders, importers, exporters, and port stakeholders. The aim is to promote fair practices and attract investments in the maritime sector.
What Is This Policy?
A Bill to transform the Nigerian Shippers' Council into a powerful independent economic regulator for Nigeria's ports, with authority over tariffs, fair competition, and port efficiency.
Who Does It Target?
Shipping companies, terminal operators, freight forwarders, port service providers, importers, exporters, and all stakeholders in Nigeria's maritime and port sector.
What Does It Aim to Achieve?
Establish a legally-backed economic regulatory framework for ports, control tariffs and charges, promote fair competition, attract investment, and support Nigeria's Blue Economy agenda.
Key Features
Independent Regulation: Creates a strong, legally-backed economic regulator for Nigerian ports Tariff Control: Empowers the agency to set, regulate, and enforce tariffs and service standards Fair Competition: Promotes fair trade practices and protects rights of service users and providers Blue Economy Alignment: Supports Nigeria's national goals for developing the marine economy
Current Status
Rollout Stage: Passed by both chambers of the National Assembly on April 10, 2025; awaiting Presidential assent Coverage: All Nigerian ports and shipping services nationwide Sponsorship: Sponsored by Speaker of the House of Representatives, Hon. Tajudeen Abbas Oversight: Ministry of Marine and Blue Economy
How to Access
Once signed into law, regulated service providers must register with the new agency. Port users can access the regulatory framework through the agency's portal. Registration as a regulated service provider Compliance with agency licensing requirements
Important Terms
Freight Stabilisation Fee: Proposed 1% fee on freight to fund regulatory operations Transition: Nigerian Shippers' Council to be transformed into the new agency upon enactment
Impact & Metrics
Maritime stakeholders warn that Nigeria loses up to $250 billion annually in potential investment due to the absence of an effective port economic regulator.
Official Resources
Website: shipperscouncil.gov.ng
Legal Framework
The Nigerian Shipping Port Economic Regulatory Agency Bill, when enacted, would operate under the Nigerian Ports Authority Act, the NIMASA Act, and the Merchant Shipping Act 2007. It would align with the Infrastructure Concession Regulatory Commission Act 2005 (on port concessions), the Federal Competition and Consumer Protection Act 2018 (on port competition), and the World Bank Port Reform Toolkit standards for independent port economic regulation.