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NPA Targets ₦1.28 Trillion Revenue in 2025, Unveils Major Port Modernization and Tech Upgrades

The Nigerian Ports Authority (NPA) has set an ambitious revenue target of ₦1.28 trillion for the 2025 fiscal year—a 40% increase from the ₦894.86 billion it generated in 2024. This bold projection is driven by comprehensive modernization efforts, technological advancements, and the anticipated full-scale operation of marine assets linked to the Dangote Refinery.

This was revealed by the Managing Director of NPA, Mohammed Bello-Koko Abubakar Dantsoho, during the agency’s 2025 budget defence before the House of Representatives Committee on Ports and Harbours. Dantsoho emphasized that the budget proposal extends beyond mere numbers, reflecting the Authority’s broader vision of transforming Nigerian ports into more efficient and globally competitive trade hubs. He pointed out that more than 70% of the proposed budget would be channeled toward capital projects aimed at upgrading infrastructure and digital systems.

The NPA surpassed its 2024 revenue target of ₦865.39 billion, closing the year with ₦894.86 billion. Yet, only ₦417.86 billion of its approved ₦850.92 billion expenditure was utilized. Despite this underutilization, the agency contributed a record ₦400.8 billion to the Consolidated Revenue Fund (CRF), nearly double the previous year’s contribution. Notably, ₦344.7 billion of this was deducted at source, underscoring the NPA’s commitment to national revenue despite tight operational liquidity.

The projected revenue growth is expected to stem from several key developments. These include the activation of the Dangote Refinery’s Single Point Mooring system—forecast to attract over 600 vessels annually—and the commissioning of upgraded terminals at WACT and OMT, which will enhance container handling capacity. Additionally, the deployment of cutting-edge systems such as the National Single Window, the Port Community System (PCS), and the Vessel Traffic Management System (VTMS) will further drive efficiency and transparency.

Revenue sources for 2025 are projected as follows: Ship Dues (₦544.06 billion), Cargo Dues (₦413.06 billion), Concession Fees (₦249.69 billion), and Administrative Revenue (₦73.07 billion). A significant portion of the proposed ₦1.14 trillion expenditure—₦778.46 billion—will go towards capital investments, including port infrastructure upgrades in Calabar, Warri, and Burutu, improved towage services, dredging of channels, and bolstered maritime security.

Dantsoho highlighted the need to close the technology gap by modernizing legacy systems and strengthening cybersecurity. He noted that regional competition from better-equipped ports and aging Nigerian infrastructure necessitate aggressive investments in modernization. With access to internally generated revenue and capital funding, he assured that the NPA is capable of achieving substantial national impact.

In response, the Committee Chairman, Hon. Nnolim Nnaji, praised the NPA’s 2024 performance and urged it to focus on enhancing infrastructure, addressing unemployment, and expanding revenue strategies. He stressed the pivotal role of ports in national economic development and called for inclusive planning that incorporates both new and existing port facilities. Nnaji concluded by urging the NPA to present a detailed financial roadmap that aligns with national development goals and boosts Nigeria’s maritime competitiveness on the regional and global stage.

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