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, Abubakar Dantsoho, 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.
