NPA Targets Over ₦1.2 Trillion Revenue in 2025 …as Dr. Dantsoho Highlights Strategic Reforms, Challenges
Abuja (Core Reporters) The Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho has said that the agency’s visionary goal is to generate ₦1.279 trillion in revenue for the 2025 fiscal year — a significant 40% increase from the ₦894 billion recorded in 2024.
Dantsoho revealed this while presenting the 2025 budget proposal before the Senate Committee on Marine Transport st the national assembly on Monday, June 23, 2025
The NPA boss acknowledged the crucial oversight role of the National Assembly in ensuring transparency and fiscal discipline across government agencies. “Your unwavering support has made it possible for us to consistently deliver well-articulated annual financial plans,” he stated.
Ports at the Heart of Economic Growth
Emphasizing the strategic role of the NPA in national development, the MD underscored two core functions of the authority: trade facilitation and the provision of marine and port-side services. “The multiplier effects of efficient port operations cut across all sectors. If we do well at the ports, businesses nationwide benefit,” he explained.
He warned that inefficiencies at Nigerian ports risk diverting cargo traffic to competing West African ports like Cotonou, Lome, Tema, and Abidjan, stressing the need to remain competitive.
To that end, the NPA is investing heavily in infrastructure, advanced equipment, digital technology, and human capacity. These investments, he said, are crucial for reducing ship turnaround time, boosting cargo volumes, and ensuring Nigeria becomes the maritime hub for West Africa.
2024 Budget Review and Key Challenges
The NPA’s 2024 budget includes ₦185 billion for operational expenses and ₦232 billion for capital projects — the latter figure expected to rise soon due to ongoing procurement activities. However, the MD raised concerns about systemic challenges hampering capital expenditure execution.
Top among them is the 50% automatic deduction by the federal government from NPA’s revenue at source. “This deduction, along with delayed remittances and restrictive procurement thresholds, often stalls critical infrastructure projects,” he noted.
Despite these hurdles, the NPA contributed a record ₦400 billion to the federal treasury under the 2024 budget — almost double its ₦213 billion remittance in 2023. The breakdown includes ₦10 billion in cash payment, ₦46 billion from port development levy, and ₦344 billion through direct deductions.
2025 Revenue Projections and Strategic Assumptions
Looking ahead, the NPA’s 2025 revenue projection is based on key economic and operational assumptions, including:
Stability of the naira-dollar exchange rate at ₦1,400 to $1
Full operation of the Dangote Refinery by late 2025
Growth in LNG and modular refinery traffic Rising import volumes from China due to geopolitical shifts
Increased cargo throughput at upgraded terminals in the eastern ports Commencement of modernization works at Tin Can and Apapa ports
The authority projects earning ₦413 billion from cargo handling, ₦544 billion from ship-related services, ₦249 billion from concessions, and ₦73 billion in miscellaneous revenue.
On the expenditure side, the NPA is proposing ₦1.1 trillion — with ₦778 billion allocated to capital projects and ₦364 billion for operational costs. Key focus areas include port automation, enhanced towing services, channel dredging, and international compliance upgrades.
Earlier, the Chairman of the Senate Committee on Marine Transport , Sen. WasiuSanni Eshinlokun in his welcome address reaffirmed the National Assembly’s constitutional duty to ensure prudent use of public funds. “Our review will focus on key performance indicators, project execution, revenue performance, and service delivery,” he said.
He announced that the committee would conduct oversight visits to NPA projects in Lagos to verify implementation of the 2024 budget. “As we review the 2025 IGR proposal, we expect clear strategies for boosting revenue, modernizing port operations, and improving security infrastructure.”
He concluded with a commitment to continued partnership: “We are not adversaries, but partners in progress, united by a shared goal to strengthen Nigeria’s maritime industry for sustainable economic growth.” He said.
