BREAKING: NIMASA targets N560bn revenue for 2025

The Nigerian Maritime Administration and Safety Agency (NIMASA) has set an ambitious revenue target of N560 billion for 2025, reflecting a significant increase from previous projections.

The Director General of NIMASA, Dr. Dayo Moboreola, announced this during the agency’s budget defence before the National Assembly Joint Committee on Finance in Abuja recently.

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

Beyond revenue generation, the DG emphasised NIMASA’s critical role as a regulator, ensuring security and safety in Nigeria’s maritime sector. He highlighted the agency’s significant achievement in combating piracy, noting that Nigeria has recorded no incidents of piracy in its waters over the past three years, a milestone acknowledged 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,” Moboreola affirmed.

He attributed this success to the unwavering support of the Ministry of Marine and Blue Economy, led by Minister Boyega Oyetola. The ministry’s backing, he said, has been instrumental in 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,” the DG noted.

Moboreola also highlighted NIMASA’s commitment to capacity building through initiatives such as the Seafarers Development Programme (NSDP).

The programme, which trains cadets locally, reduces reliance on foreign exchange while strengthening the domestic maritime workforce.

“Our dedication to capacity building is shaping a resilient and self-sufficient maritime sector, positioning Nigeria as a leader in the global maritime space,” he concluded.