NPA Targets N1.28trn Revenue In 2025

(AFRICAN EXAMINER) –  The Nigerian Ports Authority (NPA), has projected N1.279 trillion revenue for the 2025 fiscal year which is 40 per cent higher than N865 billion projected for 2024 and even surpassed.

Managing Director of NPA, Dr Abubakar Dantsoho made this known during the authority’s 2025 budget defence before the Senate Committees on Marine Transport in Abuja.

Dantsoho in his presentation of the performance index of the revenue generated by the agency in 2024 and proposal for the 2025,  said  that the NPA remitted N400 billion into the Consolidated Revenue Fund ( CFR) in 2024 .

According to him, the figure almost doubled the remittance made by the agency in 2023.

” Revenue projection of NPA for 2025 fiscal year is N1.279trillion, which is about 40 per cent higher than N865 billion projected in 2024 and surpassed with N894.86 billion generated.

” The breakdown of the N1.279 trillion revenue projection shows that N430 billion is from Cargo, N544 billion from Ships, N240 billion from Concession and N73 billion from administrative charges.

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

He added that more than 70 per cent of the proposed expenditure would go into capital projects.

“This ambitious target, the authority says, is anchored on sweeping modernisation efforts, the full activation of the Dangote Refinery’s marine operations and the deployment of cutting-edge technology to enhance port efficiency”, he said .

Chairman of the Committee, Sen. Wasiu Eshinlokun (APC-Lagos) urged the NPA to ramp up performance, improve port infrastructure and play a greater role in addressing Nigeria’s revenue and unemployment challenges.

The ports according to him, remain a critical pillar of Nigeria’s economy and urged the agency to meet rising expectations in spite of operational challenges.(NAN)

Short URL: https://www.africanexaminer.com/?p=103263