The Maritime Administration and Safety Agency projected N724 billion in gross revenue for 2026, detailing spending on operations, infrastructure, and security during a budget defense at the National Assembly.
The ambitious target, defended Tuesday before the House Committee on Maritime Safety, Education and Administration, covers recurrent costs, capital projects, maritime security, seafarer training, and port upgrades.
Committee chair Khadija Abba Ibrahim demanded realistic assumptions and strict performance metrics, warning agencies to own their projections or face scrutiny.
“Opacity and weak performance will no longer be tolerated,” Ms. Ibrahim said.
Lawmakers tied approvals to tangible results in safety, capacity building, and efficiency, calling the maritime sector vital to Nigeria’s economy.
They sought breakdowns of revenue strategies and project updates, insisting allocations deliver value in security and indigenous shipping.
NIMASA Director-General Dayo Mobereola attributed the forecast to reforms, including the MOKOSA platform for automated revenue collection, approved by the Federal Executive Council.
The system aims to plug leakages and ensure transparent remittances.
He also highlighted the relaunched Cabotage Vessel Financing Fund, which drew 60 applications from local shippers under a bank-led model for sustainability.
Lawmakers pressed for a 2025 performance review to validate the estimates, underscoring tensions over past fiscal opacity in Nigeria’s resource-dependent economy.
