2025 Budget: NIMASA To Meet N537bn Revenue Target

The Nigerian Maritime Administration and Safety Agency (NIMASA) has expressed confidence in achieving its 2025 fiscal year budget target of N560 billion.

This optimism was shared by the director general, Dr. Dayo Moboreola, during the agency’s budget defence before the National Assembly Joint Committee on Finance yesterday in Abuja.

Dr. Moboreola revealed that the budget proposal of N537 billion, approved by the National Assembly, originated from NIMASA.

“It represents an increase from last year’s projection, and with the mechanisms we have in place, we are confident of achieving it,” he said.

The DG emphasised that NIMASA’s focus extends beyond revenue generation, underscoring its role as a regulator ensuring security and safety in Nigeria’s maritime sector.

He noted that Nigeria has recorded no incidents of piracy in its waters over the past three years, a milestone recognized by the International Bureau of Maritime and the global maritime community.

“Our efforts have created safety and security not only within Nigerian waters but across the Gulf of Guinea,” he stated.

Dr. Moboreola credited this achievement to the unwavering support of the Ministry of Marine and Blue Economy, led by the minister, Boyega Oyetola.

The DG expressed gratitude for the ministry’s support in areas such as regulation enforcement, funding, and capacity building.

“With the ministry’s backing, we’ve maintained piracy-free waters, ensured high-seas safety, and established an effective regulatory framework,” he added.

Dr. Moboreola also highlighted NIMASA’s dedication to capacity building through initiatives such as the Seafarers Development Programme (NSDP), which trains cadets locally, reducing the need for foreign exchange and strengthening the domestic maritime workforce.

The DG attributed the committee’s minimal questioning during the budget defence to the agency’s impressive performance and strong stakeholder support. “It’s no magic—just performance and the ministry’s backing,” he added.

SOURCE: LEADERSHIP