NPA Targets N1.28tn Revenue for 2025
The Nigerian Ports Authority (NPA) has earmarked a revenue generation target of N1.28tn in 2025. This is up from the N894.86bn it realised in 2024.
The revenue target, according to the agency, is anchored on ambitious reforms aimed at modernising port infrastructure, harnessing advanced technology, and capitalising on increased maritime activity, especially with the expected full-scale operation of the Dangote Refinery.
The Managing Director of the NPA, Abubakar Dantsoho, made the projection on Monday during the 2025 budget defence session before the House of Representatives Committee on Ports and Harbours.
Dantsoho said, “Our 2025 estimates go beyond mere numbers—they reflect our vision for a more productive and competitive port ecosystem.” He noted that over 70 per cent of next year’s projected spending will go into capital-intensive projects.
For the 2024 financial year, the NPA surpassed its revenue target of N865.39bn, recording an actual income of N894.86bn.
However, only N417.86bn of the N850.92bn expenditure plan was utilised.
Despite the underutilisation, the NPA remitted ₦400.8bn to the Consolidated Revenue Fund, nearly doubling its 2023 contribution of ₦213.23bn. Notably, ₦344.7bn of that was deducted directly at source.
“This demonstrates our dedication to national revenue contribution, even when it places a strain on our cash flow,” Dantsoho said. He told the committee that the 2025 revenue forecast is based on several key drivers.
He listed the drivers to include “The anticipated full activation of Dangote Refinery’s Single Point Mooring system expected to handle over 600 vessels annually; the operationalisation of newly upgraded terminals like the West Africa Container Terminal and the Onne Multipurpose Terminal and the adoption of advanced digital systems such as the Port Community System, the National Single Window, and the Vessel Traffic Management System.”
He also noted a projected rise in cargo volumes due to ongoing global trade disruptions, including those linked to the Russia-Ukraine conflict. The breakdown of the ₦ 1.28tn revenue includes ₦544.06bn from ship dues; ₦413.06bn from cargo dues, ₦249.69bn in concession fees, and ₦73.07bn in administrative revenue.
From a proposed total expenditure of ₦1.14tn for 2025, ₦778.46bn is earmarked for the execution of capital development.
NPA boss said, “Staying competitive, regionally and globally, requires substantial investment in both infrastructure and technology,” adding that Nigerian ports face rising pressure from better-equipped ports in neighbouring countries.
He further outlined plans to upgrade outdated systems and strengthen cybersecurity infrastructure to bring Nigerian ports up to international digital standards.
“With timely access to internally generated funds, the NPA is poised to deliver tangible results that meet national expectations,” Dantsoho stated.
Responding, the Chairman, House Committee on Ports and Harbours, Nnolim Nnaji, commended the NPA’s performance and urged the agency to intensify its efforts in infrastructure development and revenue growth.
“Ports are the lifeline of a country’s economy, influencing trade flows, job creation, and economic resilience. While we welcome the development of new ports, it’s crucial we don’t neglect the older ones. Upgrading legacy ports, especially across the Eastern and Western corridors, is key to achieving long-term port viability.”
