The Nigerian Ports Authority (NPA) has proposed a revenue target of N1.489 trillion for the 2026 fiscal year, representing an increase of N21 billion above the N1.468 trillion projected and surpassed in 2025, as the agency moves to modernise key port infrastructure to enhance global competitiveness.
Managing Director of the authority, Abubakar Dantsoho, disclosed this on Monday during the 2026 budget defence before the Senate Committee on Marine Transport, stating that the revenue projection aligns with the agency’s reform agenda anchored on “consolidation, renewed resilience and shared prosperity.” He noted that the NPA recorded about N1.97 trillion in revenue collections in 2025, exceeding its earlier projection.
According to him, out of the proposed N1.489 trillion revenue for 2026, N945 billion is earmarked for capital projects, N447.5 billion for operating expenses, while N90.6 billion will be remitted into the Consolidated Revenue Fund.
He added that the planned modernisation of Apapa Port and Tin Can Island Port would serve as flagship projects aimed at boosting efficiency and positioning Nigeria’s ports for international competitiveness.
Dantsoho explained that both ports, with Apapa nearing 100 years and Tin Can Island over 50 years old, currently lack the capacity required for modern maritime operations, adding that groundbreaking for the projects would commence within two to three weeks.
He also clarified that all NPA revenues are paid directly into the Treasury Single Account domiciled with the Central Bank of Nigeria, stressing that the agency does not retain operational funds.
Chairman of the Senate Committee on Marine Transport, Wasiu Eshinlokun, described the committee’s oversight role as collaborative rather than adversarial, noting that the lawmakers aim to strengthen institutional capacity, eliminate inefficiencies and ensure prudent utilisation of public resources.Get The Full, Details. .
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