By Mercy Aikoye
The Maritime Academy of Nigeria (MAN) has projected a total revenue of N23.99 billion in its 2026 budget estimates.
The academy’s budget was presented before the House of Representatives Committee on Maritime Safety, Education and Administration, led by Hon. Khadija Bukar Abba Ibrahim.
“We need to scrutinise the estimates, evaluate past performance, and ensure accountability in the use of public funds,” Abba Ibrahim said.
The chairman noted that the maritime sector is critical to Nigeria’s economy, facilitating trade, enhancing security, and creating jobs.
Abba Ibrahim highlighted infrastructure gaps, inadequate training equipment, and the need for modern simulation facilities as key challenges.
MAN Rector, Dr. Kevin Okonna, presented the breakdown, saying N13.33 billion is expected from NIMASA statutory fund and N696.66 million from local grants.
Other revenue sources include cadet and student fees (N6.31 billion) and rents and service charges (N30.17 million).
The academy plans to commit N13.85 billion to capital projects, N8.78 billion to overhead costs, and N1.36 billion to personnel development.
Okonna said the proposed spending aims to upgrade infrastructure, expand training capacity, and consolidate recent gains.
