By Mercy Aikoye
The Nigerian Ports Authority (NPA) is projecting a significant revenue increase to over ₦1.27 trillion in 2025, representing a 40% jump from the ₦894.86 billion realized in 2024. This ambitious target is anchored on comprehensive modernization efforts, full activation of the Dangote Refinery’s marine operations, and deployment of cutting-edge technology to enhance port efficiency.
NPA Managing Director, Abubakar Dantsoho, disclosed this during a budget defense session with the House of Representatives Committee on Ports and Harbours. “Our 2025 budget proposal reflects our aspirations for a more efficient, globally competitive port system,” Dantsoho stated, adding that over 70% of the proposed expenditure will go into capital projects.
The Authority surpassed its revenue target of ₦865.39 billion in 2024, posting an actual realization of ₦894.86 billion. However, Dantsoho revealed that only ₦417.86 billion, less than half of the approved ₦850.92 billion expenditure, had been spent as of the time of reporting. Despite this, NPA made a record contribution of ₦400.8 billion to the Consolidated Revenue Fund (CRF) in 2024.
Dantsoho attributed the projected revenue increase to several key assumptions and developments, including the full operation of the Dangote Refinery, commissioning of upgraded terminals, implementation of automation tools, and increased cargo volumes. “Investments in infrastructure and technology are non-negotiable if we are to stay competitive regionally and globally,” he emphasized.
The 2025 revenue is expected to come from key sources, including Ship Dues (₦544.06 billion), Cargo Dues (₦413.06 billion), Concession Fees (₦249.69 billion), and Administrative Revenue (₦73.07 billion). Of the proposed ₦1.14 trillion total expenditure for 2025, ₦778.46 billion is earmarked for capital projects.
Chairman of the Committee, Hon. Nnolim Nnaji, urged the NPA to ramp up performance, improve port infrastructure, and play a greater role in addressing Nigeria’s revenue and unemployment challenges. “No country can thrive economically without high-performing ports. They are the economic heartbeat of every nation,” Nnaji stated.
Nnaji stressed that the NPA’s performance has implications beyond maritime activity, noting that increased port output can significantly boost job creation across several sectors. “The Nigerian Ports Authority is not just a revenue-generating agency, it is a national asset in terms of employment and economic impact,” he added.
The Committee praised NPA for its performance and called for a clear outline on how its 2025 financial plan will address pressing national concerns and reaffirm Nigeria’s competitiveness in regional and global maritime trade. Nnaji cautioned against neglecting existing port infrastructure, emphasizing the need to maintain and upgrade existing ports.
“We expect to see detailed strategies on how to improve revenue generation and expand employment opportunities through your 2025 budget,” Nnaji said, adding that the NPA’s role is critical to Nigeria’s economic growth and development.
