Reps approve ₦774.77bn 2025 budget for NIMASA
The Committee on Maritime Safety, Education, and Administration in the House of Representatives has approved the ₦774.77 billion budget proposal for 2025 put forth by the Nigerian Maritime Administration and Safety Agency (NIMASA).
Under the leadership of Rep. Khadija Abba-Ibrahim, the committee endorsed the proposal during a budget defense session that took place in Abuja, as reported by NAN.
The endorsement followed a presentation by NIMASA Director-General Dr. Dayo Mobereola, which detailed the agency's expected revenue and expenditure for the upcoming year.
Represented by Mr. Chidi Offodile, the Executive Director of Finance and Administration, Mobereola disclosed that the agency aims to generate ₦774.66 billion in revenue for 2025.
He clarified that after mandatory deductions—such as federal remittances and contributions to the maritime fund—₦264.96 billion will be available for operational purposes.
Mobereola identified key sources of revenue, which include freight levies, offshore waste management, sea protection, and ship registration, as well as projected profits from automation and the introduction of a modular floating dock.
He mentioned that although NIMASA anticipated ₦467.4 billion in revenue for 2024, the actual collections amounted to ₦370 billion, resulting in a performance rate of 79 percent.
Additionally, he noted that recurrent expenditure reached 87 percent of the approved budget, while capital expenditure saw a 51 percent implementation rate.
In her earlier comments, committee chair Rep. Khadija Abba-Ibrahim indicated that NIMASA has not been remitting 100 percent of its internally generated revenue.
She emphasized a significant change in fiscal policy under the current administration, which now requires the agency to remit 50 percent of its IGR to the federal treasury—a substantial shift from the past arrangement that permitted NIMASA to keep all of its internally generated funds.
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