The Nigerian Ports Authority (NPA) has set an ambitious revenue target of N1.28 trillion for 2025, a 40 per cent increase from the N894.86 billion revenue recorded in 2024, in commitment to deepen reforms and drive growth in the country’s maritime sector.
The target was revealed by NPA’s Managing Director, Abubakar Dantsoho, during the agency’s 2025 budget defence before the House of Representatives Committee on Ports and Harbours in Abuja on Monday, June 23, 2025.
According to Dantsoho, the new revenue projection reflects confidence in ongoing reforms, increased trade volumes, and improved operational strategies across Nigerian ports. He noted that the bulk of the projected revenue will come from ship and cargo dues, along with concession fees and administrative charges, all reflecting a more robust and diversified income structure.
Dantsoho explained that the agency exceeded its 2024 revenue target of N865.39 billion by generating N894.86 billion despite liquidity challenges, attributing the performance to enhanced efficiency and strategic cost management. He stressed that the 2025 budget would build on these achievements to deliver a globally competitive port system.
“Our focus is on improving service delivery, reducing turnaround times for vessels, and ensuring that our ports meet international standards,” he stated. He highlighted key priorities such as infrastructural upgrades, digital transformation of port operations, deeper engagement with private terminal operators, and regulatory reforms that simplify processes and attract global shipping lines.
He also acknowledged the challenges that could affect 2025 performance, particularly security concerns, revenue leakages, and operational bottlenecks. However, he expressed optimism that with strengthened systems, stakeholder collaboration, and improved enforcement mechanisms, the agency would meet its target.
The House of Representatives Committee on Ports and Harbours, chaired by Hon. Nnolim Nnaji, commended the NPA for surpassing its 2024 target and pledged continued legislative support. “We will work with the NPA to ensure that the 2025 target is achieved and that our ports become a source of pride for Nigeria,” Nnaji said. He also called for greater transparency in revenue management and urged the agency to prioritize capacity building for its workforce.
The NPA’s revenue projection carries broader implications for Nigeria’s economy, especially in light of calls to diversify revenue sources and reduce reliance on oil. A stronger port system, analysts say, could position Nigeria as a maritime hub in West Africa, enhance trade, attract investment, and contribute significantly to national development goals.
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