The Managing Director of the Nigerian Ports Authority (NPA), Mr Abubakar Dantsoho, says that the NPA is projecting a revenue target of ₦1.28tn revenue in 2025.
Speaking during the 2025 budget defence session, organised by the House of Representatives Committee on Ports and Harbours, on Monday in Abuja, Dantsoho said that the new target represented a 40 per cent increase from ₦894.8 billion it realised in 2024.
Mr Dantsoho told the lawmakers that the new target represented a 40 per cent increase from the ₦894.8 billion it realised in 2024.
He said that the NPA’s 2025 budget was over the figures and that it reflected its aspirations for a more efficient, globally competitive port system.
The managing director recalled that in 2024, the authority surpassed its revenue target of ₦865.39 billion, realising ₦894.86 billion.
“This shows our unwavering commitment to national revenue generation, even when our own operational liquidity is affected,” he said.
Dantsoho said that the 2025 revenue was expected to come from ship dues, ₦544.06 billion; cargo dues, ₦413.06 billion; concession fees, ₦249.69 billion and administrative revenue, ₦73.07 billion.
In his remarks, the Chairman of the committee, Hon. Nnolim Nnaji, urged the NPA to ramp up its performance, improve port infrastructure and play a greater role in addressing Nigeria’s revenue and unemployment challenges.
Nnaji noted that the ports remain a critical pillar of Nigeria’s economy and urged the agency to meet rising expectations despite its operational challenges.
“No country can thrive economically without high-performing ports. They are the economic heartbeat of every nation, determining how buoyant a country is through the flow of imports and exports,” he said.
According to him, the NPA’s performance has implications beyond maritime activity, adding that increased port output can significantly boost job creation across several sectors.
“Nigerian Ports Authority is not just a revenue-generating agency; it is a national asset in terms of employment and economic impact.
“We expect to see detailed strategies on how to improve revenue generation and expand employment opportunities through your 2025 budget,” he added.
GIK/APA