MAN Oron: Reps Committee Task NIMASA on Release of N200bn Approved Capital Project Fund

BY EGUONO ODJEGBA

The House of Representatives Committee on Maritime Safety, Education and Administration has called on the management of the Nigerian Maritime Administration and Safety Agency (NIMASA) to release to the Maritime Academy of Nigeria (MAN), the N200 billion approved for key projects at the Academy.

The Chairman of the Committee, Hon. Khadija Abba-Ibrahim who made the appeal when the Director General of NIMASA, Dr Dayo Mobereola appeared before the Committee for the 2025 budget defence session, disclosed the approved project fund is contained in NIMASA’s 2025 revenue target of N774.66 billion.

The NIMASA DG who was represented by the Executive Director, Finance and Administration, Chidi Offodile, said 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 primary revenue sources, alongside new gains expected from automation, the rollout of a modular floating dock, amongst other economic and financial prospects.

Speaking on the budget performance for last year, the executive director disclosed that actual collections amounted to N370 billion as against the projected N467.4 billion, which stands at 79% performance rate.

“Recurrent expenditures reached 87% of budgeted allocations, while capital spending stood at 51% implementation,” he said.

While drawing NIMASA’s attention to what the committee described as significant fiscal shift in the remittance of 50% of its IGR to the federal treasury, Hon. Said the development is “a significant departure from the previous policy that allowed the agency to retain all IGR”.

The committee also which also expressed concern on the credibility of doubling the revenue target in view of the N97 billion shortfall recorded in 2024, also expressed worries on the observed rise in personnel costs, from N42 billion in 2024 to N73 billion in 2025.

The committee wondered how NIMASA plans to implement ₦89 billion in capital projects when 50% of its revenue will be deducted at source. Responding the NIMASA ED Finance and Admin explained 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.

Meanwhile, the House of Reps panel has adopted the budget presented to the House in plenary for approval.