Nigerian Govt to slam N20m fine on port firms for infractions

The Nigerian Ports Economic Regulatory Agency, NPERA, has warned that corporations found guilty of violating port regulations could face a fine of up to N20 million.

The agency said the move was part of efforts to enforce stronger compliance and boost efficiency in support of Nigeria’s $1 trillion economy target.

The Director-General of NPERA, Dr Pius Akutah, disclosed this on Wednesday while interacting with newsmen in Lagos.

According to him, the NPERA Act 2026 gives the agency stronger legal powers to regulate the ports, protect investments and improve efficiency in the maritime sector.

Akutah explained that the new framework provides for a minimum penalty of N500,000 for an individual first offender, while penalties could increase for repeat infractions.

He added that the highest penalty for a corporation is N20 million, stressing that the agency could multiply the penalty where a company continues to violate the law.

He said the tougher sanctions were different from the previous regulatory framework under the Nigerian Shippers’ Council, where penalties were not sufficient to deter infractions.

“In the past, there was no such potency in our law, so we couldn’t enforce anything because the penalties were too insignificant to deter any infraction.

“The idea is not to upset the system and make it chaotic or abnormal but rather to create a deterrent regime through the provisions of the law. With the fear of the consequences, they will play by the rules naturally,” he said.