NIWRA Policy Summary

What Is This Bill?

The Nigerian Independent Warehouse Regulatory Agency (Establishment) Bill seeks to establish a dedicated regulatory body — the Nigerian Independent Warehouse Regulatory Agency (NIWRA) — to oversee and licence commercial warehouses in Nigeria. The Bill creates a comprehensive legal framework for warehouse operations, introduces warehouse receipts as legally recognised negotiable instruments, and establishes a Central Registry for their registration. Its primary goal is to enable agricultural producers and commodity owners to use warehouse receipts as collateral to access finance from financial institutions, thereby deepening agricultural credit markets and improving commodity storage standards.

Who Does It Target?

Commercial warehouse owners and operators seeking to store agricultural produce, solid minerals, and other designated commodities Agricultural producers, farmers, and commodity depositors seeking credit through warehouse receipt financing Financial institutions and banks seeking verifiable collateral instruments backed by stored commodities Commodity exchanges and investors in the agricultural value chain Warehouse Inspectors, Samplers, Graders, and Weightiers requiring professional certification Federal and State Governments seeking structured post-harvest commodity storage solutions

What Does It Aim to Achieve?

Establish NIWRA as a body corporate to licence, regulate, classify, and supervise commercial warehouses in Nigeria Introduce negotiable warehouse receipts as documents of title and collateral instruments to unlock agricultural credit Set minimum storage and operational standards for licensed warehouses to internationally acceptable levels Create a Central Registry in Abuja for registration of all warehouse receipts and transactions Protect depositors and third-party purchasers of warehouse receipts through clear rights, liabilities, and dispute resolution mechanisms End non-standardised, unregulated commodity storage by requiring all commercial warehouses to obtain NIWRA licences Promote pioneer status for licensed warehouse operators and attract investment into the warehousing sector

Key Features

Agency & Governance Structure: NIWRA is established as a body corporate with a governing Board comprising representatives from the Federal Ministries of Trade & Investment, Agriculture, Finance, and Justice, alongside the CBN, SEC, CIBN, farmer associations, and business groups. The Board is chaired by a presidential appointee. Licensing Regime: No person may operate a commercial warehouse without a valid NIWRA licence. Licences are valid for up to three years, subject to annual fees, and require proof of ownership/lease, adequate storage facilities, insurance, financial capability, and bonding. A two-year transition period is provided to existing operators. Warehouse Receipts as Collateral: NIWRA prints and exclusively supplies receipts to licensed operators. Receipts can be Negotiable (transferable by endorsement and delivery) or Non-Negotiable (assignable only). Bank-financed receipts must be traded on commodity exchanges. Central Registry: A national Central Registry for Warehouse Receipts is established and operated by NIWRA in Abuja, maintaining a chronological register of all receipts, transfers, cancellations, and endorsements, with provisions for online operations. Operator Rights & Obligations: Operators must maintain insurance against fire, theft, fraud, and natural disasters; deliver goods on valid receipt presentation; and maintain transparent records. Operators are granted lien rights over stored goods for unpaid charges. Pioneer status incentives are available under the NIPC Act. Dispute Resolution: Disputes are first referred to NIWRA for informal resolution. Unresolved disputes are escalated to an Arbitral Panel constituted under the Arbitration and Conciliation Act, with a 30-working-day decision deadline. Offences & Penalties: Unlicensed operation, issuance of false receipts, fraudulent alteration of records, and obstruction of inspectors attract fines of ₦500,000–₦5 million and/or imprisonment of 3 months to 7 years depending on the offence.

Current Status

Rollout Stage: Bill — First introduced in the 9th Assembly (Senate, December 14, 2022). Re-introduced in the 10th Assembly (Senate, June 6, 2024, 1st Session). Reading stages not yet recorded; awaiting Second Reading, Committee referral, and Third Reading before passage and Presidential Assent. Sector Gap: Nigeria currently lacks a dedicated warehouse regulatory body; post-harvest losses remain a critical challenge estimated at 20–40% of agricultural produce annually due to poor storage infrastructure. Related Framework: The Bill complements the Central Bank of Nigeria's Commodity-Based Lending initiatives and existing commodity exchange operations (AFEX, NCX) seeking verifiable collateral instruments. Pioneer Status: Operators who achieve licensing may qualify for pioneer status under the Nigerian Investment Promotion Commission Act — a key investment incentive for greenfield warehouse development. How to Access / Engage Legislators & Advocates: Track bill progression and download the bill text via the National Assembly Bills Tracker at nass.gov.ng/documents/bills Warehouse Operators: Prepare for future licensing requirements; engage through the Nigeria Association of Small and Medium Enterprises or commodity associations during the Bill's passage. Financial Institutions & Investors: Monitor bill passage to plan warehouse receipt financing products in line with the Central Registry framework. Agricultural Producers & Farmers: Engage through the two farmer association representatives on the NIWRA Board once constituted; explore how warehouse receipts can serve as collateral for agricultural credit. Contact: National Assembly of Nigeria — nass.gov.ng | [email protected] | +234-9137101570

Important Terms

Impact & Metrics

Nigeria loses an estimated 20–40% of agricultural produce annually to post-harvest spoilage — standardised, licensed warehousing directly addresses this structural loss. Access to credit for smallholder farmers remains below 5% — warehouse receipts provide a bankable collateral instrument, potentially transforming agricultural finance. The Bill introduces a 12-part legislative framework covering 105 sections and a Schedule, creating one of the most comprehensive warehouse regulatory regimes in West Africa. NIWRA's mandate covers licensing, inspection, classification, certification of personnel, and Central Registry operations — enabling a fully auditable commodity storage ecosystem. Penalties range from ₦500,000 to ₦5 million in fines and up to 7 years imprisonment for the most serious offences, establishing strong deterrents against fraudulent warehouse practices.

Official Resources

Bill Tracker: nass.gov.ng/documents/bills Bill Download (2021 Version): nass.gov.ng/documents/billdownload/11034.pdf Bill Download (2024 Version): nass.gov.ng/documents/billdownload/11129.pdf Contact: National Assembly of Nigeria, Three Arms Zone, Abuja, FCT | [email protected] | +234-9137101570

Legal Framework

The National Inland Waterways Regulatory Authority (NIWRA) Policy operates under the National Inland Waterways Authority Act, the Merchant Shipping Act 2007, and the Nigerian Ports Authority Act. It aligns with the Environmental Impact Assessment Act 1992 (on inland waterway projects), the National Water Resources Policy 2016, and the River Basins Development Authorities Act. International alignment is with the PIANC (World Association for Waterborne Transport Infrastructure) guidelines on inland waterway regulation.