By Mercy Aikoye, Abuja
The House of Representatives Committee on Maritime Safety, Education, and Administration, led by Chairman Hon. Kadijah Ibrahim, has approved a whopping ₦774.66 billion budget for the Nigerian Maritime Administration and Safety Agency (NIMASA) for the 2025 fiscal year. “We’re approving the budget, but with conditions,” Hon. Ibrahim said. “We expect NIMASA to improve its financial management and revenue remittance.”
NIMASA generated approximately ₦370 billion in Internally Generated Revenue (IGR) in 2024. “Why did the agency spend the entire amount without remitting the required percentage to the federal government’s Consolidated Revenue Fund?” Hon. Ibrahim questioned. The committee raised concerns about NIMASA’s compliance with enabling laws.
For the 2024 budget, NIMASA received ₦467.4 billion, representing 103% of the budgeted funds. The agency projected ₦467.4 billion in revenue for 2024 but realized ₦370 billion, indicating a 79% performance rate. “We’re concerned about the shortfall in revenue generation,” Hon. Ibrahim said.
The committee also raised concerns about the Maritime Academy of Nigeria in Oron, Akwa Ibom State, where ₦200 billion was approved for key projects. “Why have these funds not been released?” Hon. Billy Osawaru (Edo, APC) asked. “This institution is crucial for advancing the nation’s maritime capacity development.”
The House Committee on Maritime Safety, Education, and Administration has promised to ensure effective oversight of NIMASA. “We’ll conduct regular visits to the agency’s headquarters and offices to address concerns about financial management, revenue remittance, and project execution,” Hon. Ibrahim said.
Some lawmakers questioned the agency’s ability to meet its 2025 revenue projections, given a ₦97 billion shortfall in 2024. “How do you plan to meet your revenue targets?” Hon. Ukponggido Emmanuel (Akwa-Ibom, APC) asked. They also raised concerns about a significant increase in personnel costs.
Despite concerns, the committee approved NIMASA’s 2025 budget. “We urge the agency to improve its financial management and revenue remittance,” Hon. Ibrahim said. NIMASA’s Executive Director of Finance and Administration, Hon. Chudi Offordile, expressed confidence that the agency can meet its revenue targets. “We’ll achieve this through enhanced oil production, automation, and strategic partnerships,” he said.
