By Gloria Ikibah
The House of Representatives has backed the 2025 budget proposal to the sum of N774.77 for Nigerian Maritime Administration and Safety Agency (NIMASA).
The Chairman of the Committee on Maritime Safety, Education and Administration, Rep. Khadija Abba-Ibrahim gave the approval at a budget defence session with the management of NIMASA on Monday in Abuja.
This was sequel to the presentation of a summary of the projected revenue and expenditure by Director General of NIMASA, Dr. Dayo Mobereola.
Represented by the Executive Director, Finance and Administration, Hon. Chidi Offodile, he stated that ₦774.66 billion was the targeted as revenue for 2025.
He explained that after deductions, including federal remittances and maritime fund contributions, ₦264.96 billion would be available for operations.
He also listed freight levies, offshore waste management, sea protection and ship registration as major revenue sources, alongside new gains expected from automation, the rollout of a modular floating dock and collaboration with the U.S. Coast Guards.
On the implementation of the 2024 budget, the Executive Director disclosed that while NIMASA projected ₦467.4 billion in revenue for 2024, actual collections amounted to ₦370 billion, indicating a 79% performance rate. Recurrent expenditures reached 87% of budgeted allocations, while capital spending stood at 51% implementation.
Earlier in her address, the Chairman, Rep. Abba-Ibrahim said the committee discovered that internally generated revenue by NIMASA was not remitted 100 per cent.
She drew the attention of the management to a major fiscal shift under the present administration, requiring NIMASA to remit 50% of its IGR to the federal treasury—”A significant departure from the previous policy that allowed the agency to retain all IGR”.
The committee, however, questioned the credibility of doubling the revenue target given the ₦97 billion shortfall in 2024.
It also raised the alarm on the steep rise in personnel costs, from ₦42 billion in 2024 to ₦73 billion in 2025, and queried whether this was due to mass recruitment or inflated benefits.
The capital expenditure also came under scrutiny, with the committee questioning how NIMASA plans to implement ₦89 billion in capital projects when 50% of its revenue will be deducted at source.
In his response, the eExecutive Director said all budgets are projections subject to economic variables.
He attributed the ambitious 2025 targets to anticipated oil production increases, enhanced revenue automation, and operational scale-up. “We are confident that with better systems and strategic partnerships, we can meet these targets,” he said.
In adopting the budget to be presented to the plenary, the committee urged the agency to release the N200 billion approved for NIMASA for some key projects at the Maritime Academy of Nigeria, Oron in Akwa Ibom State.
