NPERA pledges efficient ports to boost indigenous shipping
Lagos, Oct. 2026 (TBL Africa) The Nigerian Ports Economic Regulatory Agency (NPERA) says indigenous shipping can grow through access to affordable long-term financing, predictable regulations and efficient port infrastructure.
Dr Pius Akutah, the Director-General of NPERA, said this on Thursday in Lagos at the annual event of the Shipping Correspondents Association of Nigeria (SCAN), with the theme, “Low-Risk Capital for Indigenous Shipowners: Overcoming Regulatory, Financial Bottlenecks”.
Akutah, represented by the agency’s Director of Consumer Affairs, Mrs Ify Okolue, said that indigenous operators needed collaboration among financial institutions, shipowners and regulators to acquire vessels, expand operations and compete globally.
He said that the growth of indigenous shipping required sound policies, innovative financing models and sustained public-private partnerships rather than government declarations alone.
Akutah said that the cost of doing business in the maritime sector could not be reduced through financing interventions alone, as loan repayment also depended on efficient port services and transparent charges.
He said that the NPERA Act, 2026, provided the legal framework for a fair, transparent and economically sustainable port system that could reduce avoidable costs and boost investor confidence.
According to him, the agency will continue to engage stakeholders, enforce compliance, address complaints and promote efficient services to make Nigerian ports more cost-effective and attractive to maritime businesses.
Also speaking, a former Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Mr Temisan Omatseye, called for a private sector-driven approach to make indigenous shipping competitive and sustainable.
Omatseye said that Nigeria had significant maritime opportunities in crude oil transportation, fuel supply to the Dangote Refinery, liquefied natural gas (LNG) shipments and solid minerals evacuation.
He said that these opportunities should guide shipping development and investment planning.
According to him, the Federal Ministry of Budget and Economic Planning and the Nigerian Content Development and Monitoring Board receive multi-year operational plans from international oil companies detailing their maritime requirements.
He said that sharing the information with indigenous shipowners would help them plan investments and enable financial institutions to develop suitable financing models based on reliable cargo demand and vessel requirements.
Omatseye said that Nigerian banks faced challenges financing shipping competitively, citing the estimated cost of an LNG tanker at 250 million dollars and local lending rates of about 25 per cent, compared with rates of about two per cent in some foreign markets.
He said that foreign operators enjoyed significant cost advantages because they could access financing of up to 85 per cent at lower interest rates, while indigenous operators faced high borrowing costs and collateral requirements.
The former NIMASA chief urged the government to create an enabling environment for a private sector-led special purpose vehicle to drive vessel acquisition, gas development and wider maritime growth for national economic benefit.
