…To Invest N770bn in Port Modernisation Projects
By peterside Rejoice Eneky
The Nigerian Ports Authority (NPA) has announced a bold revenue target of N1.279 trillion for the 2025 fiscal year marking a 40 percent leap from the previous year’s projection as it disclosed a record remittance of N400 billion to the Consolidated Revenue Fund (CRF) for 2024.
Managing Director of the NPA, Dr. Abubakar Dantsoho, revealed the figures while presenting the agency’s 2025 budget to the National Assembly’s Committees on Marine Transport.
According to him, the increased revenue projection would be driven by improved cargo throughput, rising vessel traffic, enhanced port concession agreements, and administrative charges. He gave a detailed breakdown of expected earnings: N544 billion from ship dues, N430 billion from cargo services, N240 billion from port concessions, and N73 billion from administrative charges.
“This budget is more than just figures. It reflects our commitment to building a more efficient and globally competitive port system,” Dantsoho said.
Capital Focus: Over N770bn for Infrastructure
Out of the NPA’s proposed total expenditure of N1.14 trillion for 2025, a significant N778.46 billion more than 70 percent is allocated to capital projects. Dantsoho said the funds would support the revitalisation of port infrastructure in Calabar, Warri, and Burutu; upgrade towage services; deepen navigation channels; and boost maritime security compliance.
He also cited the full activation of the Dangote Refinery’s marine terminal, capable of receiving over 600 vessels annually, as a key revenue booster. Other factors include the commissioning of modernised terminals at West Africa Container Terminal (WACT) and OMT, alongside the deployment of automation systems like the National Single Window, Port Community System (PCS), and the Vessel Traffic Management System (VTMS).
He noted that increased global trade route realignments due to the Russia-Ukraine war have also spurred cargo traffic, offering new opportunities for Nigerian ports.
“These investments in infrastructure and technology are not optional they are essential if Nigeria’s ports are to remain regionally and globally competitive,” he stressed.
Lawmakers React
Senator Wasiu Eshinlokun (APC, Lagos Central), Chairman of the Senate Committee on Marine Transport, urged the NPA to keep improving efficiency and infrastructure, highlighting the ports’ strategic role in driving economic growth.
Other lawmakers, including Senators Iya Abbas, Victor Umeh, Amos Yohanna, Kenneth Eze, and Abdul Ningi, praised the NPA’s revenue performance. Ningi described the budget as “well-prepared and data-driven,” but advised the Authority to contribute more toward closing the nation’s fiscal deficit.
However, Senator Cyril Fasuyi expressed concern over the proposed expenditure, describing the N1.1 trillion spending plan as “excessive” and calling for a more conservative approach.
As the NPA advances plans to modernise and digitise port operations, expectations remain high for the agency to further solidify its role in national revenue generation and maritime reform
