The House of Representatives Committee on Maritime Safety, Education, and Administration has given its approval to the ₦774.77 billion 2025 budget proposal of the Nigerian Maritime Administration and Safety Agency.

Chaired by Rep. Khadija Abba-Ibrahim, the committee endorsed the proposal during a budget defence session held in Abuja, according to NAN.

The approval came after NIMASA Director-General Dr. Dayo Mobereola presented a breakdown of the agency’s projected revenue and expenditure for the year.

Represented by the Executive Director of Finance and Administration, Mr. Chidi Offodile, Mobereola, revealed that the agency is targeting ₦774.66 billion in revenue for 2025.

He explained that after statutory deductions—including federal remittances and contributions to the maritime fund—₦264.96 billion would remain available for operational use.

He identified freight levies, offshore waste management, sea protection, and ship registration as key revenue sources, along with anticipated gains from automation and the deployment of a modular floating dock.

The Executive Director noted that while NIMASA projected ₦467.4 billion in revenue for 2024, actual collections totalled ₦370 billion—reflecting a performance rate of 79 percent.

He added that recurrent expenditure reached 87 percent of the approved budget, while capital expenditure achieved a 51 percent implementation rate.

Earlier in her remarks, the committee chair, Rep. Khadija Abba-Ibrahim, pointed out that NIMASA had not been remitting 100 percent of its internally generated revenue

She highlighted a major fiscal policy shift under the current administration, which now mandates the agency to remit 50 percent of its IGR to the federal treasury—a notable change from the previous arrangement that allowed NIMASA to retain all of its internally generated funds.