The Acting Rector of the Maritime Academy of Nigeria, Kevin Okonna, has projected a revenue of over N24 billion for the institution in the 2026 fiscal year.

Okonna disclosed this while defending the academy’s proposed budget before the House of Representatives Committee on Maritime Safety, Education and Administration, explaining that the projected revenue will be drawn largely from the five per cent statutory fund from the Nigerian Maritime Administration and Safety Agency, NIMASA, alongside funds from cadet fees, rent and other institutional sources.

HE also disclosed that the academy recently signed a three-year agreement with NLNG Shipping and Marine Services Limited to provide onboard training opportunities for cadets, with 43 students already deployed on vessels for practical sea experience.

Chairman of the committee, Hon Khadija Waziri-Bukar Ibrahim, described the academy as critical to Nigeria’s maritime manpower development and urged the management to ensure transparency, fiscal discipline and improved infrastructure as part of efforts to strengthen the country’s blue economy.