The House of Representatives Committee on Maritime Safety, Education, and Administration has approved the 2025 budget proposal of N774.77 billion for the Nigerian Maritime Administration and Safety Agency (NIMASA).
The committee led by Rep. Khadija Abba-Ibrahim approved the proposal at a budget defence session with the NIMASA management in Abuja, the News Agency of Nigeria (NAN) reports.
The adoption followed the presentation of a summary of the projected revenue and expenditure by the Director-General of NIMASA, Dr Dayo Mobereola.
Represented by the Executive Director, Finance and Administration, Mr Chidi Offodile, the D-G disclosed that N774.66 billion was the targeted revenue for 2025.
Mobereola said that after deductions, including federal remittances and maritime fund contributions, N264.96 billion would be available for operations.
He listed freight levies, offshore waste management, sea protection, and ship registration as major revenue sources, alongside new gains expected from automation and the rollout of a modular floating dock.
The executive director explained that while NIMASA projected N467.4 billion in revenue for 2024, the actual collections amounted to N370 billion, indicating a 79 percent performance rate.
He further explained that recurrent expenditures reached 87 percent of the budgeted allocations, while capital spending stood at 51 percent implementation.
NIMASA remitted 50 percent of IGR to FG in 2024
Earlier in her address, the chairman of the committee, Rep. Khadija Abba-Ibrahim, said that they discovered that NIMASA’s internally generated revenue was not remitted 100 percent.
- Abba-Ibrahim drew the attention of the management to a major fiscal shift under the present administration, requiring NIMASA to remit 50 percent of its IGR to the federal treasury.
- According to her, it is 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 N97 billion shortfalls in 2024.
- She also expressed concerns about the steep rise in personnel costs, from N42 billion in 2024 to N73 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 N89 billion in capital projects when 50 percent of its revenue will be deducted at source.
In his response, the executive director said that 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 by NIMASA for some key projects at the Maritime Academy of Nigeria, Oron, Akwa Ibom.
