The Nigerian Ports Authority (NPA) has projected a revenue target of ₦1.279 trillion for the 2025 fiscal year — a bold 40% increase over its ₦865 billion projection for 2024. The NPA has already surpassed the 2024 figure, generating ₦894.86 billion in actual revenue.
Managing Director of the NPA, Dr. Abubakar Dantsoho, announced the new projection while presenting the agency’s 2025 budget proposals before the Senate and House of Representatives Committees on Marine Transport.
Dantsoho also disclosed that the Authority remitted ₦400 billion to the Consolidated Revenue Fund (CRF) in 2024, almost double its remittance from the previous year. He stated that the 2025 revenue target would be achieved through improved cargo throughput, rising ship traffic, enhanced port concession agreements, and streamlined administrative charges.
According to the breakdown, the revenue sources for 2025 include:
- ₦430 billion from cargo services
- ₦544 billion from ship dues
- ₦240 billion from port concession agreements
- ₦73 billion from administrative fees
“This budget is more than just figures. It reflects our commitment to building a more efficient and globally competitive port system,” Dantsoho emphasized, adding that over 70% of the projected expenditure would be allocated to capital infrastructure investments.
