The Nigerian Ports Authority (NPA) reported a revenue of N758.26 billion between January and November 2024, marking a 33.9% increase compared to the previous year. This figure exceeded the Authority’s entire revenue for 2023, which stood at N501 billion, surpassing it by N257.3 billion. This growth comes after a steady increase in revenue from N361 billion in 2022 to N501 billion in 2023.
The Managing Director of NPA, Dr. Abubakar Dantsoho, shared the updated revenue figures while presenting the agency’s performance to the National Assembly Joint Committee on Finance. For 2025, the agency had initially projected N997 billion in revenue. However, the committee, led by Senator Sani Musa and Hon. James Faleke, raised the projection to N1.75 trillion, emphasizing the potential for growth by maximizing the NPA’s 56 revenue streams.
This increase in scrutiny of the NPA’s revenue comes as the Nigerian government seeks to enhance income generation amidst economic challenges. The adjustment to the 2025 revenue forecast highlights the growing importance of optimizing resources from key revenue-generating bodies like the NPA.
