The Nigerian Ports Authority (NPA) has surpassed its 2024 revenue projection of ₦865 billion by generating a record ₦894.86 billion in actual receipts and remitting ₦400 billion to the Consolidated Revenue Fund (CRF).
On the back of this performance, the Authority has proposed an ambitious revenue target of ₦1.279 trillion for the 2025 fiscal year.
The disclosure was made by the Managing Director of the NPA, Dr. Abubakar Dantsoho, during the presentation of the Authority’s 2025 budget proposal to the Senate and House of Representatives Committees on Marine Transport in Abuja.
According to Dantsoho, the revenue forecast reflects the Authority’s commitment to boosting port efficiency, modernising infrastructure and expanding the digital footprint of port operations. The projection marks a 40 percent increase from the 2024 budget estimate.
The 2025 revenue breakdown includes ₦430 billion from cargo services, ₦544 billion from ship dues, ₦240 billion from port concession agreements, and ₦73 billion from administrative charges.
Dantsoho stated that the NPA’s revenue drive will be anchored on several key initiatives including increased ship traffic, concession reforms, and automation of critical operations.
“This budget is more than just figures. It reflects our commitment to building a more efficient and globally competitive port system,” Dantsoho said.
Of the proposed ₦1.14 trillion expenditure for 2025, ₦778.46 billion, representing over 70 percent, is earmarked for capital projects.
Priority will be given to the rehabilitation of infrastructure at the Calabar, Warri and Burutu ports, alongside upgrades in towage services, channel depth, and compliance with international maritime security protocols.
The Authority also plans to leverage the full operationalisation of the Dangote Refinery marine terminal, which is projected to attract over 600 vessels annually via its Single Point Mooring (SPM) system.
Additionally, newly modernised terminals at the West Africa Container Terminal (WACT) and the Onne Multipurpose Terminal (OMT) are expected to drive growth in cargo throughput.
To enhance trade facilitation, the NPA will deploy automation platforms such as the National Single Window, Port Community System (PCS), and Vessel Traffic Management System (VTMS).
Dantsoho noted that realignments in global trade routes due to geopolitical tensions, particularly the Russia-Ukraine conflict, have also contributed to increased cargo traffic at Nigerian ports.
“These investments in infrastructure and technology are not optional—they are essential if Nigeria’s ports are to remain regionally and globally competitive,” he added.
In response, Chairman of the Senate Committee on Marine Transport, Senator Wasiu Eshinlokun (APC, Lagos Central), commended the Authority’s performance and urged further improvements in infrastructure delivery and operational efficiency.
Other lawmakers, including Senators Iya Abbas, Victor Umeh, Amos Yohanna, Kenneth Eze, and Abdul Ningi, echoed similar sentiments, describing the presentation as comprehensive and data-driven.
Senator Cyril Fasuyi, however, expressed concerns about the proposed spending plan, describing the ₦1.1 trillion expenditure as excessive and recommending expenditure rationalisation to ensure fiscal discipline.
As the NPA pursues its strategic transformation agenda, the agency is expected to play a central role in improving Nigeria’s non-oil revenue, supporting job creation, and enhancing the competitiveness of the country’s maritime sector.
