NPERA ACT 2026 set to transform Nigeria's port sector into growth engine – DG Dr Pius Akutah

The Director-General/CEO of the Nigeria Ports Economic Regulatory Authority (NPERA), Dr Pius Akutah, MON, has said that although NPERA operates as a regulatory body, it remains open to partnerships and collaborations that support its mandate and offer mutual benefit.

Welcoming the delegation from Capital Express Insurance Group at his office, the Director-General said it was a pleasure to receive them, particularly after many years since the Group’s chief executive last visited the institution, and conveyed enthusiasm for the engagement. He noted that stakeholders who have operated in the maritime sector for some time would clearly appreciate the significant changes now underway in the industry while expressing optimism that the transformation would create life-changing opportunities for Nigerians and significantly contribute to the growth of the maritime sector and the wider economy.

He acknowledged the Federal Government and the President’s efforts to revitalise the maritime economy and create opportunities for greater economic activity.

Dr Akutah said the visit came at an important moment, following significant changes and reforms within the institution. According to him, the changes were necessary to enable the Authority to take a bold and progressive position in fulfilling its mandate and are expected to deliver concrete benefits to Nigerians while strengthening its ability to discharge its responsibilities effectively.
He stressed the importance of collaboration without needless barriers, noting that whenever major institutional changes are introduced, stakeholders will naturally want to understand the rationale.

The Director-General thanked the delegation for its offer to support and participate in events and programmes organised by the Authority. He added that, as a regulator, NPERA must remain mindful of how it engages with the public and private sectors, and must sustain the confidence of investors and shareholders, not only in Nigeria but across West Africa and the wider international business community. In the next phase of the Authority’s development, he said, management is prepared to carry stakeholders along and ensure that relevant parties are adequately engaged in the transformation process.

He stressed that any partnership should not be limited to a single engagement yet should be deepened and sustained over time to deliver long-term value.

Leading the delegation, Mr Mathew Ogwezhi, Managing Director and Chief Executive Officer of Capital Express Life Assurance Limited and Director, Capital Express Insurance Limited, thanked the Director-General for taking time out of his busy schedule to receive the team and congratulated him on the NPERA Act 2026, which is poised to change the face of ports and the shipping landscape of our economy.

He said the Group’s primary interest was to build a strong partnership with the Authority, identify areas where it could contribute meaningfully to NPERA’s transformation agenda, and explore opportunities for collaboration beyond the immediate business opportunity.

Mr Ogwezhi said the Group was keen to support NPERA’s mission as set out in the new Act which established the Authority, by protecting lives and property through tailored insurance solutions for both life and general risks. He added that the Group understands the nature of the Authority’s operations and the broader maritime ecosystem and is ready to bring innovation, insurance solutions, and value-added services to benefit the Authority and its stakeholders.

Speaking on the Group’s readiness to enter such a partnership, he stated: “We are fully recapitalised and ready to assume more complicated policies as well as to cover larger risks in both the life and general business fields.”

He explained that the Group’s improved capital position enables it to offer greater financial security and to meet the insurance requirements of the ports and maritime sector with certainty and reliability.

Considering the Authority’s new identity and facilities, Mr Ogwezhi, who recalled visiting the institution as a journalist many years ago, described the transformation as impressive. He observed that institutions and businesses must continually respond to changing realities, and that a change of name and identity, properly harnessed, can act as a catalyst for institutional growth, renewed relevance and greater impact within the industry.

Mr Adewale Koko, Managing Director/CEO of Capital Express Indemnity Insurance Limited, agreed with Mr Ogwezhi. He noted that, having successfully recapitalised, the Group’s services are now more robust, giving clients and partners greater assurance that bigger and more sophisticated risks can be adequately covered. He reiterated the Group’s readiness to do business with the Authority and stressed that its interest goes beyond a transactional relationship, toward a mutually beneficial partnership that supports the Authority’s objectives and creates value for both institutions.

The Group also introduced Risk Shield Magazine, an industry publication with almost 39 years of history, describing it as an important platform for industry engagement, visibility, and knowledge sharing. The delegation said it was ready to collaborate with the Authority to present or support appropriate awards and industry recognition initiatives.

Mr Roland Okoro, Publisher of Risk Shield Magazine, recalled the struggles Dr Akutah overcame to ensure that the new bill, now the Act establishing the Authority, saw the light of day. He commended the Director-General’s resilience, foresight, and firm commitment to seeing the reform through despite the challenges along the way.

The highlight of the visit was the presentation of the Award for Distinguished Leadership to Dr Akutah in recognition of his devotion and steadfastness in leading reforms in the ports sector, among other achievements. The award recognised outstanding leadership in passing and implementing the NPERA Act, major contributions to advancing operational transparency and efficiency in Nigerian ports, and a sustained commitment to driving positive change in the maritime sector. In receiving it, Dr Akutah was acknowledged for his contribution to improving regulatory processes and supporting collaboration among sector stakeholders.

Also present were directors and senior management of NPERA. The engagement was cordial and future-oriented, with both groups expressing a shared interest in institutional development, innovation, stakeholder engagement and sustainable, long-term collaboration.