Section 3: Aims and objects of the Authority.

It shall be the objective of the Authority to-(a) correct any imbalance in the Nigerian shipping trade, for the purpose of implementing the provisions of the UNCTAD Code of Conduct for Liner Conference, especially to observe the ratio of 40: 40: 20 in respect of carriage of goods to Nigerian ports;
(b) improve Nigeria's balance of payments position, by enhancing the earning and conservation of foreign exchange from the shipping industry;
(c) use the national shipping policy as instrument of promoting the export trade of Nigeria and thus accelerate the rate of growth of the national economy;
(d) ensure the greater participation of indigenous shipping lines in liner conferences, thereby influencing the decision-making processes of such liner conferences serving Nigerian international sea-borne trade;
(e) promote the acquisition of shipping technology, by creating and diversifying employment opportunities in the shipping industry, through the stimulation and protection of indigenous shipping companies;
(f) assist in the economic integration of the West African sub-region;
(g) offer protection to Nigerian vessels flying the nation's flag on the high seas and world seaports;
(h) increase the participation by indigenous Nigerian shipping lines in ocean shipping, through the application of the provisions of the UNCTAD Code on General Cargo and by entering into bilateral agreements or other suitable arrangements;
(i) encourage the increase of ownership of ships and the achievement of indigenous skills in maritime transport technology;
(j) achieve a systematic control of the mechanics of sea transportation; and
(k) promote the training of Nigerians in maritime transport technology and as seafarers.