The Nigerian Ports Authority (NPA) says it is proposing to generate an estimated revenue of N1.28 trillion in 2025.
This disclosure was made by the Managing Director of the agency, Mr Abubakar Dantsoho, during the 2025 budget defense session organized by the House of Representatives Committee on Ports and Harbour in Abuja Monday.
It was gathered that the new revenue target is 40 per higher that the N894.8 billion it realized in 2024.
Mr Dantsoho informed the lawmakers that it hopes to rake in more money this year from a more efficient and globally competitive port system.
“This shows our unwavering commitment to national revenue generation, even when our operational liquidity is affected,” he stated.
Explaining the sources of the revenue, the NPA boss said, “The 2025 revenue was expected to come from ship dues of N544.06 billion, cargo dues of N413.06 billion, concession fees of N249.69 billion, and administrative revenue of N73.07 billion.”
In his remarks, the Chairman of the committee, Mr Nnolim Nnaji, tasked the NPA to “beef up its performance, improve port infrastructure and play a greater role in addressing Nigeria’s revenue and unemployment challenges.”
“The ports remain a critical pillar of Nigeria’s economy and the agency needs to meet rising expectations despite its operational challenges,” he noted.
Mr Nnaji insisted that, “No country can thrive economically without high-performing Ports, adding “they are the economic heartbeat of every nation, determining how buoyant a country is through the flow of imports and exports.”
According to him, NPA’s performance has implications beyond maritime activity, even as he opined that increased port output can significantly boost job creation across several sectors.
“The NPA is not just a revenue-generating agency; it is a national asset in terms of employment and economic impact.
“We expect to see detailed strategies on how to improve revenue generation and expand employment opportunities through your 2025 budget,” the federal legislator stated.