Hot Source•To invest over N770bn in port modernisation projects
Sunday Aborisadeand Juliet Akoje in Abuja
The Nigerian Ports Authority (NPA) has projected a record revenue target of N1.279 trillion for the 2025 fiscal year, an ambitious 40 percent increase, compared with the N865 billion projected in 2024, which it has already exceeded with N894.86 billion in actual revenue.
The Managing Director of the NPA, Dr. AbubakarDantsoho, disclosed this while presenting the Authority’s 2025 budget proposals before the Senate and House of Representatives Committees on Marine Transport yesterday.
Dantsoho also revealed that the NPA remitted N400 billion to the Consolidated Revenue Fund (CRF) in 2024, nearly double its remittance in the previous year.
According to him, the projected revenue of N1.279 trillion for 2025, would be driven by improved cargo throughput, increased ship traffic, enhanced concession arrangements, and administrative charges.
Specifically, the breakdown included: N430 billion from cargo services; N544 billion from ship dues; N240 billion from port concession agreements, and N73 billion from administrative fees.
Dantsoho said, “This budget is more than just figures. It reflects our commitment to building a more efficient and globally competitive port system.”
He also said over 70 percent of the projected expenditure would go into capital infrastructure.
The 2025 budget proposal, he added, included a total expenditure of N1.14 trillion, out of which N778.46 billion was earmarked for capital projects.
He said the investments, would focus on the revitalisation of key port infrastructure in Calabar, Warri, and Burutu, as well as improvements in towage services, channel depth, and compliance with international maritime security standards.
Dantsoho,emphasised that the revenue projections were anchored on several strategic initiatives and developments.
These he said, included full operationalisation of the Dangote Refinery’s marine terminal, expected to attract over 600 vessels annually through its Single Point Mooring (SPM) system and the commissioning of modernised terminals at the West Africa Container Terminal (WACT) and OMT.
He also listed the deployment of automation systems such as the National Single Window, Port Community System (PCS), and Vessel Traffic Management System (VTMS)
He said there was an increased cargo traffic as a result of global trade route realignments driven by the Russia-Ukraine conflict.
“These investments in infrastructure and technology are not optional—they are essential if Nigeria’s ports are to remain regionally and globally competitive,” Dantsoho stressed.
In response, the Chairman of the Senate Committee on Marine Transport, Senator WasiuEshinlokun (APC, Lagos Central), urged the NPA to further improve port infrastructure and operational efficiency.
He noted the strategic importance of Nigeria’s ports in driving economic growth and job creation.
Other lawmakers, including Senators Iya Abbas (PDP, Adamawa Central), Victor Umeh (LP, Anambra Central), Amos Yohanna (PDP, Adamawa South), Kenneth Eze (APC, Ebonyi Central), and Abdul Ningi (PDP, Bauchi Central), commended the NPA’s consistent performance in surpassing its revenue targets.
Ningi described the presentation as “a well-prepared and data-driven document,” while also urging the Authority to do more to support the Federal Government in addressing fiscal deficits and reducing reliance on borrowing.
However, Senator Cyril Fasuyi called on the NPA to trim its expenditure, stating that the proposed N1.1 trillion spending plan for 2025 appeared excessive.
As the NPA pursues modernization and digitisation of port operations, expectations remain high for the agency to play a more pivotal role in boosting national revenue and transforming Nigeria’s maritime landscape.
