NPA Targets N1.28tn From Ship, Cargo Dues

The Nigerian Ports Authority (NPA) is projecting a significant revenue boost to N1.28tn in 2025, marking a 40 per cent increase from the N894.86bn generated in 2024.

This ambitious forecast is driven by the Authority’s aggressive modernization agenda, the expected full-scale activation of marine operations at the Dangote Refinery, and the integration of advanced technology aimed at improving operational efficiency and port performance across the country.

The Managing Director of the NPA, Abubakar Dantsoho, disclosed this during a budget defence session with the House of Representatives Committee on Ports and Harbours on Monday.

Dantsoho said, “Our 2025 budget proposal is more than figures; it reflects our aspirations for a more efficient, globally competitive port system.”

The NPA boss said over 70 per cent of the proposed expenditure will be spent on capital projects.

The Nigerian Ports Authority (NPA) exceeded expectations in 2024 by generating ₦894.86bn, surpassing its revenue target of ₦865.39bn.

However, actual expenditure lagged behind projections, with just ₦417.86bn—less than half of the approved ₦850.92bn budget—spent as of the time of reporting.

Despite the restrained spending, the NPA made a historic contribution of ₦400.8bn to the Consolidated Revenue Fund (CRF) in 2024, nearly double the ₦213.23bn remitted in 2023.

Notably, ₦344.7bn of this was deducted at source.

“This reflects our unwavering commitment to national revenue generation, even at the expense of our own operational liquidity,” said NPA Managing Director, Mohammed Bello-Koko Dantsoho.

Looking ahead, the Authority has based its ambitious ₦1.28tn revenue target for 2025 on a combination of strategic developments.

These include the full operationalization of the Dangote Refinery, expected to attract over 600 vessels annually through its Single Point Mooring (SPM) system; the commissioning of upgraded terminals at WACT and OMT to boost container throughput; and the deployment of digital tools such as the National Single Window, Port Community System (PCS), and Vessel Traffic Management System (VTMS) to streamline port processes.

The anticipated revenue for 2025 will be drawn primarily from Ship Dues (₦544.06bn), Cargo Dues (₦413.06bn), Concession Fees (₦249.69bn), and Administrative Revenue (₦73.07bn).

To support this revenue drive, a proposed expenditure of ₦1.14tn has been outlined, with ₦778.46bn allocated for capital projects.

He said these investments will focus on the rehabilitation of critical infrastructure—including the Calabar, Warri, and Burutu ports and channels—alongside improvements in towage services, channel depth, and compliance with international maritime security standards.

“Investments in infrastructure and technology are non-negotiable if we are to stay competitive regionally and globally,” Dantsoho emphasised.

NPA Targets N1.28tn From Ship, Cargo Dues is first published on The Whistler Newspaper