NPA Targets ₦1.28 Trillion Revenue for 2025
…Remits ₦400bn to Federal Government in 2024, Unveils Modernization Agenda
The Nigerian Ports Authority (NPA) has announced an ambitious revenue target of ₦1.279 trillion for the 2025 fiscal year, marking a 40 percent increase over the ₦865 billion projected for 2024. This was revealed on Monday by the NPA’s Managing Director, Dr. Abubakar Dantsoho, during separate presentations to the Senate and House of Representatives Committees on Marine Transport.
Dr. Dantsoho stated that the agency not only met but surpassed its 2024 revenue projection, generating ₦894.86 billion. Out of this, ₦400 billion was remitted into the Consolidated Revenue Fund (CRF), almost double the amount remitted in 2023. He described the 2025 budget proposal as a reflection of the Authority’s broader vision for a more efficient and globally competitive port system.
According to him, the projected ₦1.279 trillion revenue is expected to come from various sources, including cargo dues, ship-related charges, concession income, and administrative fees. He emphasized that the bulk of the proposed ₦1.14 trillion expenditure for 2025, over 70 percent would be dedicated to capital projects. This includes ₦778.46 billion allocated to the revitalization and expansion of critical port infrastructure.
The projected revenue growth, Dr. Dantsoho explained, is anchored on several strategic developments. These include the full activation of marine operations at the Dangote Refinery, which is expected to attract over 600 vessels annually via its Single Point Mooring system.
In addition, the commissioning of upgraded terminals at the West Africa Container Terminal (WACT) and Onne Multipurpose Terminal (OMT) is set to boost container traffic significantly. The deployment of advanced automation tools such as the National Single Window, the Port Community System (PCS), and the Vessel Traffic Management System (VTMS) is also expected to enhance efficiency and transparency in port operations.
He also highlighted the impact of global supply chain disruptions, especially those caused by the Russia-Ukraine conflict, which are driving increased cargo volumes and rerouted trade flows, thereby creating new opportunities for Nigerian ports.
The capital investment will target key facilities including the Calabar, Warri, and Burutu ports and channels. It will also enhance towage services, improve channel depth, and align with international maritime security standards.
Dr. Dantsoho stressed that investments in infrastructure and technology are critical to ensuring Nigeria’s competitiveness in the regional and global maritime sector. He described these investments as “non-negotiable” if the country is to maintain and grow its share of international trade.
Reacting to the presentation, Senator Wasiu Eshinlokun (APC, Lagos Central), who chairs the Senate Committee on Marine Transport, commended the NPA’s consistent performance and urged the agency to further improve its efficiency and output.
He noted that Nigerian ports remain a vital component of the national economy and tasked the Authority with helping to address pressing issues such as revenue shortfalls and unemployment.
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Other lawmakers, including Senators Iya Abbas, Victor Umeh, Amos Yunana, Kenneth Eze, and Abdul Ningi, also lauded the NPA’s achievements. Senator Ningi, in particular, described the presentation as well-structured and insightful, covering past performance, future estimates, and the assumptions behind them.
Despite the commendations, the committee members encouraged the NPA to raise the bar even higher in its revenue generation efforts to support the Federal Government’s drive to reduce deficit spending and reliance on loans.
