By Christiana Ekpa
The Nigerian Ports Authority (NPA) has unveiled a proposed revenue target of N1.489 trillion for the 2026 fiscal year, marking a N21 billion increase from the N1.468 trillion target set—and exceeded—in 2025.
The Managing Director and Chief Executive Officer, Dr. Abubakar Dantsoho, disclosed this while presenting the agency’s 2026 budget proposal and 2025 performance before the House of Representatives Committee on Ports and Harbours on Tuesday.
According to him, the projected N1.489 trillion revenue reflects optimism driven by ongoing reforms and planned infrastructure upgrades. In 2025, the NPA recorded N1.19 trillion in actual revenue collections.
A breakdown of the 2026 proposal shows that N945 billion is allocated for capital projects, N447.5 billion for operating expenses, while N90.6 billion will be remitted into the Consolidated Revenue Fund (CRF).
Dantsoho also revealed that the authority will commence long-awaited modernization projects at Apapa and Tin Can Island ports within the next two to three weeks, aimed at boosting efficiency and enhancing global competitiveness.
He noted that both ports are aging and operating below modern standards, with Apapa Port being nearly 100 years old and Tin Can Island Port over 50 years old, lacking the capacity required for modern shipping operations.
“The commencement of these projects will not only enhance port capacity but also redistribute maritime traffic, especially to eastern ports, as activities in Lagos ports undergo construction,” he explained.
Dantsoho commended lawmakers for approving loans to support the rehabilitation efforts, stressing that the intervention would significantly increase national revenue.
Earlier, the Chairman of the Committee, Hon. Nnolim Nnaji, underscored the importance of appropriation as a critical tool for socio-economic development. He added that the committee would soon embark on oversight visits to major ports nationwide.
He expressed satisfaction that critical infrastructure at Apapa and Tin Can Island ports is finally receiving attention, noting that the committee will also review port rehabilitation, concessioning processes, and other key operational areas of the NPA.
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