By Paul Effiong, Abuja
House of Representatives Committee on Maritime Safety, Education and Administration has approved the 2025 budget proposal of N774.77billion for the Nigerian Maritime Administration and Safety Agency, NIMASA.
The approval was given yesterday during a budget defence session with the agency’s management led by Khadija Abba-Ibrahim at the National Assembly Complex in Abuja.
Presenting the budget breakdown, NIMASA’s Director-Deneral, Dayo Mobereola, represented by the Executive Director, Finance and Administration, Chidi Offodile, disclosed that the agency projected N774.66 billion in revenue for 2025.
He, however, explained that after mandatory deductions, including federal remittances and maritime fund contributions, only N264.96 billion would be available for operational expenses.
Mobereola identified key revenue sources as freight levies, offshore waste management, sea protection charges and ship registration fees, even as he highlighted new revenue streams expected from increased automation, deployment of a modular floating dock and partnerships with the US Coast Guard.
While reviewing the 2024 performance, he said the agency achieved 79 percent of its revenue target, collecting N370 billion out of the projected N467.4 billion.
Speaking during the defence, the Chairman of the panel, Abba-Ibrahim, however, expressed concern over NIMASA’s failure to fully remit its Internally Generated Revenue, IGR, to government.
The lawmaker reminded the agency of the new fiscal policy requiring a mandatory 50 percent IGR remittance to the federal treasury, a significant shift from the previous system where NIMASA retained all its earnings.
The panel also questioned the credibility of NIMASA’s plan to double its revenue target despite a N97 billion shortfall in 2024 collections, even as alarm was also raised due to sharp increase in personnel cost from N42 billion in 2024 to N73 billion in 2025. It challenged the agency to explain whether this was linked to mass recruitment or inflated salary structures.
Reacting, Offodile explained that the budget figures were projections influenced by expected improvement in oil production, system automation and enhanced operational capacity.
The agency assured the committee of its readiness to work hard and execute all mandates given to it by government.
NIMASA expressed confidence in meeting its target through strategic partnership and better management practices.
The committee urged the agency to ensure the timely release of N200 billion already approved for key projects to the management of the Maritime Academy of Nigeria, Oron, Akwa Ibom State.
