Maritime sector gets boost as Senate passes Port Economic Regulatory Agency Bill

The Senate on Tuesday passed the Nigerian Port Economic Regulatory Agency Bill, 2026 during plenary in Abuja, a move expected to strengthen transparency, streamline processes and improve operational efficiency in Nigeria’s maritime sector.

The passage of the bill followed a motion moved by the Senate Leader, Senator Opeyemi Bamidele (Ekiti Central), and seconded by the Minority Leader, Senator Abba Moro (Benue South).

Lawmakers had earlier rescinded their previous decision on the bill, which had been passed and transmitted to the President for assent, after fresh legal reviews identified issues requiring legislative corrections.

At the Committee of the Whole, Bamidele explained that following critical examination by the Ministry of Justice, fundamental concerns were raised, prompting the need for renewed legislative action. He said a technical committee comprising members of the Senate, House of Representatives and legal drafting experts from the Directorate of Legal Services was constituted to address the identified gaps.

According to him, the committee was tasked with resolving the issues and recommending necessary amendments to ensure the bill aligns with global best practices for port economic regulation.

The Senate, relying on Orders 1(b) and 52(6) of its Standing Orders, rescinded the earlier passage of the bill and recommitted it to the Committee of the Whole for detailed review, amendment and reconsideration.

Following exhaustive clause-by-clause deliberation, lawmakers subsequently passed the bill.

Industry stakeholders say the bill is expected to strengthen the regulatory role currently handled by the Nigerian Shippers’ Council, creating a more predictable framework for port charges, promoting fair competition among operators, protecting port users and improving ease of doing business at the nation’s seaports.

It is also expected to support faster cargo clearance, boost revenue generation and enhance Nigeria’s competitiveness as a regional maritime hub.