NPA sets ambitious N1.28trn revenue target for 2025
By Temitope Adebayo
The Nigerian Ports Authority (NPA) has set an ambitious revenue target of N1.28 trillion for the 2025 fiscal year, representing a significant 40 per cent increase from the N894.86 billion achieved in 2024.
According to the NPA’s budget proposal, the authority is optimistic about surpassing its previous revenue performance due to several factors, including improved cargo throughput, increased ship traffic, enhanced concession arrangements, and administrative charges.
This projection is driven by the Authority’s modernisation efforts, the full activation of the Dangote Refinery’s marine operations, and the deployment of cutting-edge technology to enhance port efficiency.
A breakdown of the projected revenue shows that the NPA expects to generate N544.06 billion from ship dues, N413.06 billion from cargo dues, N249.69 billion from concession fees, and N73.07 billion from administrative revenue.
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From the revenue projection, the Authority plans to invest over N770 billion in port modernisation projects, with a focus on revitalising critical infrastructure in Calabar, Warri, and Burutu ports and channels. This investment will also enhance towage services, channel depth, and compliance with international maritime security standards.
Managing Director of the NPA, Dr. Abubakar Dantsoho, made this disclosure while making a presentation at the budget defence session with the House of Representatives Committee on Ports and Harbours on Monday, where he defended the agency’s 2025 budget estimates and provided insights into its 2024 performance.
“Our 2025 budget proposal is more than figures; it reflects our aspirations for a more efficient, globally competitive port system,” Dantsoho told lawmakers, adding that, over 70% of the proposed expenditure will go into capital projects.
For 2024, the Authority surpassed its revenue target of N865.39 billion, posting an actual realisation of N894.86 billion.
However, Dantsoho revealed that only N417.86 billion, less than half of the approved N850.92 billion expenditure, had been spent as of the time of reporting.
Despite this, NPA made a record contribution of N400.8 billion to the Consolidated Revenue Fund (CRF) in 2024, nearly double the N213.23 billion remitted in 2023. Of this amount, a staggering N344.7 billion was deducted at source.
This shows our unwavering commitment to national revenue generation, even when our operational liquidity is affected, the NPA boss stressed. Dantsoho said the projected revenue increase is premised on several key assumptions and developments, including: the full operation of the Dangote Refinery, which alone is expected to draw in over 600 vessels annually through its Single Point Mooring (SPM) system.
He also listed the commissioning of upgraded terminals at WACT and OMT, which will enhance container traffic; the implementation of automation tools such as the National Single Window, Port Community System (PCS), and Vessel Traffic Management System (VTMS); and increased cargo volumes stemming from global disruptions, including the Russia-Ukraine conflict, which has affected global trade routes.
“The 2025 revenue is expected to come from the following key sources: Ship Dues, N544.06 billion; Cargo Dues, N413.06 billion; Concession Fees, N249.69 billion; and Administrative Revenue, N73.07 billion. Of the proposed N1.14 trillion total expenditure for 2025, N778.46 billion is earmarked for capital projects.
“This investment will target the revitalisation of critical infrastructure, including the Calabar, Warri, and Burutu ports and channels, and enhance towage services, channel depth, and compliance with international security conventions,” he pointed out.
