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By Tracy Moses
The Acting Rector of the Maritime Academy of Nigeria (MAN), Oron, Akwa Ibom State, Dr. Kevin Okonna, on Wednesday presented the institution’s 2026 budget before the House of Representatives Committee on Maritime Safety, Education, and Administration, projecting a total revenue of N24,010,563,603.44.
Dr. Okonna explained that after deducting the projected remittance to the Consolidated Revenue Fund of N10,805,915, the academy expects a net revenue of N23,999,757,688.44.
Breaking down the revenue, he highlighted the 5 percent NIMASA statutory fund of N13,333,194,665.74, the expected 2025 budget release of N55,000,000, and the MOWCA fund of N696,664,160.64. Fees from cadets and students are projected to contribute N697,380,000, while other sources, including rent, are expected to generate N30,174,140.
On the expenditure side, Dr. Okonna said the academy plans overhead costs of N8,787,698,249.52, personnel emoluments of N1,356,817,590.36, and capital expenditure of N13,855,241,848.55, aligning total spending with projected net revenue.
Highlighting the institution’s achievements over the past year, Dr. Okonna said, “In 2025, during the graduation ceremony, 80 of our 2021 cadets were given automatic employment and sea time experience. This was made possible through active engagement with stakeholders in the maritime industry, particularly ship owners.”
He further revealed that MAN signed a three-year MOU with NLNG Shipping and Marine Services Limited between December 2025 and February 2026 to provide onboard training opportunities for cadets. “So far, 43 cadets have been placed on NLNG ships and are actively sailing,” he added.
The Acting Rector also announced that MAN received two international certifications for its quality management systems and certification for education organizations management systems. Additionally, the academy achieved 24-hour power supply for all cadets and students on campus.
Chairman of the Committee, Hon. Khadija Waziri-Bukar A. Ibrahim, emphasized MAN’s central role in Nigeria’s maritime capacity development and human capital advancement. “The maritime sector supports international trade, enhances national security, and creates employment opportunities for our youth. MAN plays a critical role in producing skilled manpower to sustain and grow this sector,” she said.
However, she noted that challenges such as infrastructure deficits, training equipment gaps, accreditation requirements, and the need for modern simulation facilities must be clearly reflected in the budget proposals with measurable outcomes.
Hon. Waziri-Bukar affirmed the Committee’s commitment to collaboration, stating, “Our shared goal is to strengthen the Maritime Academy of Nigeria, Oron, into a world-class institution capable of competing globally and contributing meaningfully to Nigeria’s blue economy.”