By Abbanobi -Eku Onyeka
Abuja
The Nigerian Ports Authority (NPA) has set a revenue target of N1.489 trillion for the 2026 fiscal year, a N21 billion increase from the N1.468 trillion targeted and surpassed in 2025. The Managing Director of NPA, Dr Abubakar Dantsoho, disclosed this during a budget defence session with the Senate Committee on Marine Transport on monday.
Dantsoho stated that the total revenue projection for 2026 is N1.489 trillion, with N945 billion earmarked for capital projects, N447.5 billion for operating expenses, and N90.6 billion for remittance into the Consolidated Revenue Fund. He explained that the budget is anchored on the mantra of “Consolidation, renewed resilience, and shared prosperity”.
The NPA boss highlighted the modernization of Apapa and Tin Can Island ports as flagship projects to increase revenue. He noted that the ports are old and small for global competitiveness, with Apapa Port being about 100 years old and Tin Can Island over 50 years, with inadequate capacities.
Dantsoho announced that the groundbreaking for the modernization projects will commence in two or three weeks. He also explained that all revenues generated by NPA go directly into the Treasury Single Account (TSA) controlled by the Central Bank of Nigeria.
The Chairman of the Senate Committee on Marine Transport, Senator Wasiu Eshinlokun, commended NPA’s efforts and emphasized that the committee’s oversight function is collaborative, not adversarial. He stated that the goal is to work with NPA to strengthen institutional capacity, eliminate inefficiencies, and ensure that every naira appropriated serves the public interest.
Eshinlokun assured the committee’s support for NPA’s modernization efforts and revenue targets. The NPA’s revenue target is a testament to its commitment to improving Nigeria’s ports and boosting economic growth.
The modernization of Apapa and Tin Can Island ports is expected to enhance Nigeria’s global competitiveness and increase revenue. The NPA’s efforts are part of the government’s broader strategy to improve infrastructure and boost economic growth.
The Senate Committee on Marine Transport will continue to work with NPA to ensure the successful implementation of the 2026 budget and the modernization of Nigeria’s ports.
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