The Nigerian Ports Authority (NPA) has unveiled an ambitious revenue projection of ₦1.28 trillion for 2025
The Nigerian Ports Authority (NPA) has unveiled an ambitious revenue projection of ₦1.28 trillion for 2025.
This is a 40 percent jump from the ₦894.86 billion realized in 2024.
The agency says the bold target is anchored on sweeping modernization reforms, operationalization of the Dangote Refinery’s marine terminal, and adoption of advanced technology to boost port efficiency.
Managing Director of the NPA, Abubakar Dantsoho, disclosed this on Monday during the agency’s 2025 budget defence before the House of Representatives Committee on Ports and Harbours.
While justifying the agency’s projections, Dantsoho explained that the figures reflect more than financial expectations.
“Our 2025 budget proposal is more than figures, it reflects our aspirations for a more efficient, globally competitive port system,” he told lawmakers, noting that more than 70 percent of the planned expenditure would be channeled into capital projects.
According to Dantsoho, the NPA exceeded its 2024 revenue target of ₦865.39 billion, closing the year with ₦894.86 billion in actual receipts. However, only ₦417.86 billion of the ₦850.92 billion approved expenditure was utilized by the end of the reporting period.
Despite the underutilization, the Authority posted a record ₦400.8 billion remittance to the Consolidated Revenue Fund (CRF), nearly doubling the ₦213.23 billion recorded in 2023. He noted that ₦344.7 billion of this amount was deducted at source.
“This shows our unwavering commitment to national revenue generation, even when our own operational liquidity is affected,” Dantsoho emphasized.
The projected revenue surge, he said, rests on several strategic developments: full marine operations at the Dangote Refinery expected to attract over 600 vessels annually via its Single Point Mooring (SPM); improved terminal activities at WACT and OMT; and rollout of automation tools such as the National Single Window, Port Community System (PCS), and Vessel Traffic Management System (VTMS).
He also referenced global disruptions, including the Russia-Ukraine war, as a catalyst for increased cargo traffic into Nigerian ports.
Breakdown of the NPA’s expected 2025 revenue includes:
- Ship Dues – ₦544.06 billion
- Cargo Dues – ₦413.06 billion
- Concession Fees – ₦249.69 billion
- Administrative Revenue – ₦73.07 billion
Of the ₦1.14 trillion proposed expenditure for 2025, ₦778.46 billion will be spent on capital projects.
These, Dantsoho said, will focus on rehabilitating critical infrastructure including the Calabar, Warri, and Burutu ports and channels, as well as upgrading towage services, increasing channel depths, and ensuring compliance with international security protocols.
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“Investments in infrastructure and technology are non-negotiable if we are to stay competitive regionally and globally,” he added, while acknowledging challenges such as aging infrastructure and growing competition from neighboring ports.
He further disclosed plans to close technology gaps through system upgrades and stronger cybersecurity to align Nigerian ports with global digital standards. “We can say that with timely access to internally generated revenue and capital funds, NPA would deliver the kind of impact Nigeria expects,” he assured.
In his remarks, Chairman of the Committee, Rep. Nnolim Nnaji (PDP Enugu), charged the NPA to scale up performance and contribute meaningfully to addressing Nigeria’s economic and employment challenges.
“No country can thrive economically without high-performing ports. They are the economic heartbeat of every nation, determining how buoyant a country is through the flow of imports and exports,” Rep. Nnaji said.
He applauded the NPA’s 2024 performance but urged the agency to provide concrete strategies for boosting revenue and job creation in the coming year.
“The Nigerian Ports Authority is not just a revenue-generating agency, it is a national asset in terms of employment and economic impact,” Rep. Nnaji emphasized.
He also cautioned against the neglect of existing port infrastructure amid growing investments in new port projects. “As we welcome investment in new ports, we must not abandon the old ones. Maintaining and upgrading our existing ports, both in the Eastern Corridor and the Western axis, is essential to long-term sustainability,” he warned.
The committee concluded by calling on the NPA to present a clear and actionable financial strategy for 2025 that responds to national priorities and positions Nigeria competitively in the regional and global maritime landscape.
