Reps Endorse ₦774.77bn Allocation for 2025 NIMASA

Abuja, Nigeria — The House of Representatives Committee on Maritime Safety, Education, and Administration has sanctioned a ₦774.77 billion budget for the Nigerian Maritime Administration and Safety Agency (NIMASA) for the 2025 fiscal year.

This decision emerged during a budget defence session in Abuja, where Committee Chairperson, Hon. Khadija Abba-Ibrahim, confirmed the figures following an extensive review of NIMASA’s financial projections and operational plans.

Speaking on behalf of NIMASA’s Director General, Dr. Dayo Mobereola, the Executive Director of Finance and Administration, Chidi Offodile, outlined the agency’s ambitious revenue target of ₦774.66 billion for 2025. He clarified that, after mandatory deductions—including federal remittances and contributions to maritime funds—₦264.96 billion would remain to fund core operations.

Offodile detailed the agency’s anticipated income sources, which include:

• Freight levies
• Offshore waste management services
• Ship registration fees
• Sea protection levies
• Increased earnings from the deployment of a modular floating dock
• System automation
• Strategic cooperation with the U.S. Coast Guard

Reviewing the previous year’s performance, Offodile reported that, against a projected revenue of ₦467.4 billion for 2024, NIMASA achieved ₦370 billion—reflecting a 79% realization rate. Recurrent expenditure reached 87% implementation, while capital projects stood at 51%.

Despite these figures, members of the committee voiced reservations about the feasibility of nearly doubling revenue targets in the face of a ₦97 billion shortfall in the current year. Hon. Abba-Ibrahim specifically questioned the basis for such optimistic projections, especially in the context of ongoing fiscal reforms.

She also highlighted a significant policy change: agencies like NIMASA are now required to remit 50% of their internally generated revenue (IGR) to the federal treasury, a departure from previous arrangements that permitted full retention.

Addressing these concerns, Offodile emphasized that budget estimates are driven by economic forecasts and evolving industry dynamics, pointing to expected growth in oil production, improved automation, and expanded operations as justification for the 2025 targets.

In closing, the committee underscored the urgency of releasing ₦200 billion already earmarked for critical infrastructure projects at the Maritime Academy of Nigeria, Oron, Akwa Ibom State, stressing the academy’s pivotal role in advancing the nation’s maritime capacity and workforce development.

By Enoch Odesola | July 7, 2025