The Nigerian Ports Authority (NPA) has announced a projected revenue target of ₦1.28 trillion for the 2025 fiscal year, marking a 40 percent increase from the ₦894.8 billion it realized in 2024.

This was disclosed by the Managing Director of the NPA, Dr. Abubakar Dantsoho, during the agency’s 2025 budget defence before the House of Representatives Committee on Ports and Harbour in Abuja on Monday.

Providing a breakdown of the revenue projections, Dantsoho said the 2025 income would be sourced from Ship Dues (₦544.06 billion), Cargo Dues (₦413.06 billion), Concession Fees (₦249.69 billion), and Administrative Revenue (₦73.07 billion).

Highlighting the agency’s improved performance, Dantsoho noted that the NPA surpassed its 2024 revenue target of ₦865.39 billion, achieving an actual revenue of ₦894.86 billion.

“This shows our unwavering commitment to national revenue generation, even when our operational liquidity is affected,” he stated.

He added that the 2025 budget goes beyond figures, reflecting the agency’s aspirations for a more efficient and globally competitive port system.

In his remarks, Chairman of the House Committee on Ports and Harbour, Hon. Nnolim Nnaji, charged the NPA to further enhance its performance and modernize port infrastructure.

“NPA should beef up its performance, improve port infrastructure and play a greater role in addressing Nigeria’s revenue and unemployment challenges,” Nnaji said.

He emphasized the strategic importance of Nigeria’s ports, describing them as the “economic heartbeat of every nation.”

“No country can thrive economically without high-performing Ports,” Nnaji declared, adding that enhanced port operations have the potential to boost job creation across various sectors.

“Nigerian Ports Authority is not just a revenue-generating agency; it is a national asset in terms of employment and economic impact,” he said.

The committee chairman concluded by urging the NPA to present detailed strategies in its 2025 budget on how it intends to improve revenue generation and expand employment opportunities.

–By Bon Peters