Reps Endorse NIMASA’s ₦774.66bn Budget For 2025
•••Insist On Immediate Disbursement Of ₦200bn For Maritime Academy Projects
•By Admin
ABUJA – The House of Representatives Committee on Maritime Safety, Education, and Administration has approved the 2025 budget proposal of ₦774.66 billion for the Nigerian Maritime Administration and Safety Agency (NIMASA).
The endorsement came during a budget defence session held on Monday, presided over by the committee’s chairperson, Hon. Khadija Abba-Ibrahim.
Representing the agency’s Director-General, Dr. Dayo Mobereola, the Executive Director of Finance and Administration, Hon. Chidi Offodile, told lawmakers that NIMASA is projecting to generate ₦774.66 billion in revenue for the 2025 fiscal year.
He explained that following mandatory statutory deductions, such as contributions to federal coffers and relevant maritime funds, only ₦264.96 billion would be available for the agency’s operational expenses.
Offodile identified key revenue streams to include freight charges, ship registration, offshore waste disposal, and maritime security services. He added that the agency’s earnings are expected to grow due to improved automation, commissioning of a modular floating dock, and strengthened ties with the U.S. Coast Guard.
Giving an update on the agency’s current performance, he noted that NIMASA has realized ₦370 billion out of its ₦467.4 billion revenue target for 2024, reflecting a 79 percent performance. He also disclosed that 87 percent of the recurrent expenditure had been implemented, while execution of capital projects stood at 51 percent.
Despite the presentation, several lawmakers expressed reservations about the budget.
Chairperson Hon. Abba-Ibrahim took issue with the agency’s failure to fully comply with remittance requirements under the Tinubu administration’s fiscal reform policy, which now mandates that 50 percent of IGR be paid into the Consolidated Revenue Fund, unlike in the past when agencies retained their full earnings.
Other committee members raised doubts over the agency’s ability to meet its 2025 revenue projections, citing a ₦97 billion shortfall in 2024. They also queried the proposed hike in personnel costs from ₦42 billion in 2024 to ₦73 billion in 2025, seeking clarity on whether the increase was due to staff expansion or inflated welfare packages.
Concerns were also raised about the feasibility of implementing ₦89 billion worth of capital projects, given that a large portion of projected income would be diverted to compulsory remittances.
Responding, Offodile maintained that the figures were estimates and subject to market dynamics but expressed confidence that ongoing reforms and operational expansion would enable NIMASA to hit its targets.
“With enhanced oil production, automation, and global partnerships, we believe the agency is positioned to meet its revenue goals,” he assured.
Before approving the budget for transmission to plenary, the committee insisted on the immediate release of ₦200 billion previously earmarked for priority capital projects at the Maritime Academy of Nigeria (MAN), located in Oron, Akwa Ibom State.
Speaking to reporters after the session, Hon. Abba-Ibrahim urged the Academy’s leadership to enhance capital budget execution and ensure responsible use of allocated resources.
She stressed that the institution plays a vital role in advancing the Federal Government’s Blue Economy strategy and must show stronger commitment to maritime training and safety compliance.
“It’s concerning that the Academy continues to underperform in capital spending despite receiving full budget releases. This casts doubt on the integrity of the proposals they submit,” she said.
The committee’s scrutiny of the Academy’s 2024 budget execution revealed instances where allocated funds were underutilized, even though projects were reportedly completed in full.
Defending the Academy, Acting Rector Dr. Kelvin Okondo argued that delivering completed projects under budget should be considered an achievement. He added that leftover funds were still intact and had not been misused.
At the end of the review, the committee adopted the Academy’s 2024 implementation report, worth ₦453.6 billion, and approved its proposed budget estimate for 2025.
•INDEPENDENTNG.