The Nigerian Ports Authority (NPA) says it is optimistic about achieving a revenue target of ₦1.28 trillion by the end of 2025, representing a 40% increase from the ₦894.86 billion generated in 2024.
According to Dr. Abubakar Dantsoho, the Managing Director of NPA, this ambitious goal is driven by comprehensive modernization initiatives, the full start-up of marine operations at the Dangote Refinery, and the adoption of state-of-the-art technology to enhance port efficiency.
During a budget defence session with the House of Representatives Committee on Ports and Harbors on Monday, Dantsoho explained that the 2025 budget proposal is more than just figures but reflects the NPA’s aspirations for a more efficient and globally competitive port system.
“This shows our unwavering commitment to national revenue generation, even when our own operational liquidity is affected.”
Over 70% of the budget is allocated for capital projects, with ₦778.46 billion specifically earmarked for these initiatives.
Persecondnews reports that the NPA expects to generate significant revenue from ship dues, with an estimated ₦544.06 billion anticipated in 2025.
Cargo dues are also expected to contribute substantially, with a projected revenue of ₦413.06 billion.
Additionally, concession fees will play a key role, with an estimated ₦249.69 billion expected.
Administrative revenue is also anticipated to contribute ₦73.07 billion to the NPA’s overall revenue.
In 2024, the NPA exceeded its revenue target, generating ₦894.86 billion against a target of ₦865.39 billion.
The authority also significantly increased its contribution to the Consolidated Revenue Fund (CRF), remitting ₦400.8 billion, almost twice the ₦213.23 billion remitted in 2023.
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