Section 15: Funding of the Agency

The Agency shall be funded by monies accruing to the Agency from the following sources:(a) 3 percent of gross freight on all international inbound and outbound cargo from ships or shipping companies operating in Nigeria to be collected and paid over to the Agency to meet its operational costs;
(b) 0.5 per cent of stevedoring charges collected by employers of dock labour;
(c) all fees for ship registration, licenses, surveys, examination, certification and permits issued by the Agency, fines and levies paid to the agency;
(d) all other financial assets that may from time to time be vested in or accrue to the Agency in the course of performing its functions under this Act or pursuant to this Act;
(e) all other sums collected or received by the Agency for services rendered or facilities provided by the Agency;
(f) gifts, grants, aids, etc ; and
(g) all such other sums as may be received by the Agency from other sources.