The Maritime Academy of Nigeria (MAN), Oron, has projected N24.01 billion in revenue for 2026, with N23.99 billion remaining after a proposed N10.8 million remittance to the Consolidated Revenue Fund. Acting Rector Kevin Okonna disclosed this during the academy's budget presentation to the House of Representatives Committee on Maritime Safety, Education and Administration on Wednesday. He detailed that N13.33 billion will come from the five per cent statutory allocation from the Nigerian Maritime Administration and Safety Agency (NIMASA), while N696.66 million is expected from the Maritime Organisation of West and Central Africa (MOWCA). Additional sources include N697.38 million from cadet and student fees, N55 million in outstanding 2025 releases, and N30.17 million from rent and other income.
Expenditure is also projected at N23.99 billion, with N8.79 billion for overheads, N1.36 billion for personnel costs, and N13.86 billion for capital projects. Okonna highlighted recent gains, including 80 cadets from the 2021 graduating class securing automatic employment and sea-time placements in 2025 through partnerships with shipowners. A three-year MoU with Nigeria Liquefied Natural Gas Limited (NLNG) Shipping and Marine Services Limited has led to 43 cadets being deployed on NLNG vessels. The academy has also achieved two international certifications and now provides 24-hour electricity on campus. Committee chair Khadija Abba-Ibrahim (APC, Yobe) acknowledged the academy's role in maritime development but urged realistic budgeting that reflects infrastructure gaps, training equipment shortages, and the need for modern simulation facilities.
Projecting N24 billion in revenue while still citing infrastructure deficits reveals a pattern of financial optimism detached from operational reality. Kevin Okonna's presentation hinges on inflows like N13.33 billion from NIMASA's statutory fund—money that depends on federal allocations that often fall short. If the academy cannot reliably maintain basic training equipment, ambitious revenue and employment figures may serve more as budget theatre than a roadmap for reform. For cadets and taxpayers, the real measure will be visible upgrades on campus, not projections on paper.
