The House of Representatives Committee on Maritime Safety, Education and Administration has approved the 2025 budget proposal of N774.77bn for the Nigerian Maritime Administration and Safety Agency.

Chaired by Yobe lawmaker, Khadija Abba-Ibrahim, the Committee gave the approval on Monday during the budget defence session at the National Assembly Complex, Abuja.

The adoption followed the presentation of a summary of the projected revenue and expenditure by the Director General of NIMASA, Dayo Mobereola.

Represented by the Executive Director, Finance and Administration, Chidi Offodile, the DG disclosed that ₦774.66bn was the targeted revenue for 2025.

He said, “After deductions, including federal remittances and maritime fund contributions, the sum of ₦264.96bn will be available to the agency for its operations.”

He listed freight levies, offshore waste management, sea protection and ship registration as major revenue sources, alongside new gains expected from automation, the rollout of a modular floating dock.

On the performance of the 2024 budget, the executive director disclosed that while NIMASA projected ₦467.4bn in revenue for 2024, “actual collections amounted to ₦370bn, indicating a 79% performance rate. Recurrent expenditures reached 87% of budgeted allocations, while capital spending stood at 51% implementation.”

Earlier in her remarks, Khadija noted that the committee had discovered that the agency was no longer remitting 100 per cent of its internally generated revenue.

She drew the attention of the management to a major fiscal shift under the present administration, requiring NIMASA to remit 50% of its IGR to the federal treasury.

She said, “This 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 ₦97bn shortfall in 2024.

It also raised concerns over the rise in personnel costs, from ₦42bn in 2024 to ₦73bn in 2025, asking if the development was a result of nationwide recruitment or inflated benefits.

The capital expenditure also came under scrutiny, with the committee questioning how NIMASA plans to implement ₦89bn in capital projects, given that 50% of its revenue will be deducted at source.

Responding, the executive director said all budgets are projections subject to economic variables.

He attributed the ambitious 2025 targets to anticipated oil production increase, enhanced revenue automation, and operational scale-up, saying, “We are confident that with better systems and strategic partnerships, we can meet these targets.”

Following the adoption of the budget, which is expected to be presented during plenary, the Committee urged the agency to release the N200bn approved for some key projects at the Maritime Academy of Nigeria, Oron, in Akwa Ibom State.