NPERA reaffirms commitment to efficient, investment-friendly ports to boost indigenous shipping
Lagos, Oct. 29,2026, The Director-General, Nigerian Ports Economic Regulatory Agency, (NPERA) Dr Pius Akutah, says indigenous shipping capacity cannot grow without access to affordable, long-term capital, predictable regulation and efficient maritime infrastructure.
Akutah said that this on Thursday in Lagos at an event organised by the Shipping Correspondents’ Association of Nigeria (SCAN) on “Low risk of capacity for indigenous shipowners: Overcoming Regulatory, financial bottlenecks,”.
Akutah who was represented by the Director Consumer Affairs of NPERA, Mrs Ify Okolue, said the ability of indigenous operators to acquire vessels, expand operations and compete globally depends on calculated collaboration among financial institutions, ship owners and regulatory agencies.
According to him, the future of indigenous shipping cannot depend on government declarations alone, but requires sound policies, innovative financing models and sustained public-private collaboration to build a competitive industry.
The director-general said that NPERA recognised that the cost of doing business cannot be addressed through financing interventions alone, as servicing loans also depends on efficient port services and transparent charges.
He said that the agency, empowered by the NPERA Act, 2026, provides statutory foundation for a fair, transparent and economically sustainable port system that would reduce avoidable costs and boost investor confidence.
Akutah added that the agency would continue to engage stakeholders, enforce compliance, address complaints and promote efficient services to make Nigerian ports cost-effective and attractive for legitimate maritime businesses.
Also speaking, the former Director General, Nigerian Maritime Administration and Safety Agency, Mr Temisan Omatseye, said that Nigeria must adopt a private sector-driven model to make indigenous shipping competitive and sustainable.
Omotseye said that Nigeria has enormous maritime opportunities, including crude oil lifting, Dangote Refinery’s 650,000 barrels per day requirement, LNG shipments and solid minerals evacuation, which should inform shipping planning.
According to him, the National Planning Ministry and the Nigerian Content Development and Monitoring Board receive multi-year operational plans from International Oil Companies detailing marine components that should be shared with shipowners.
He noted that availability of bankable data on cargo, vessel demand and operational projections would enable financial institutions to develop appropriate funding models for indigenous operators.
Omatseye said that Nigerian banks lack capacity to finance shipping competitively, as an LNG tanker costs about 250 million dollars, while local lending rates of 25 per cent cannot compete with two per cent abroad.
He explained that foreign operators access up to 85 percent financing at low rates, import vessels into Nigeria and operate with huge cost advantage over indigenous owners facing high interest and collateral requirements.
He cited example of a foreign trader who borrows at three per cent to buy Nigerian commodities during harvest, warehouses them and sells at 100 per cent profit off-season, retaining about 98 per cent margin.
The former NIMASA boss urged government to create enabling environment for a private sector-led special purpose vehicle to drive vessel acquisition, gas development and broader maritime growth for national economic benefit.
