The Nigerian Ports Authority (NPA) has projected a revenue target of N1.489 trillion for the 2026 fiscal year, surpassing its 2025 target of N1.468 trillion by N21 billion
The Nigerian Ports Authority (NPA) has projected a revenue target of N1.489 trillion for the 2026 fiscal year, surpassing its 2025 target of N1.468 trillion by N21 billion.
Managing Director and Chief Executive Officer of the agency, Abubakar Dantsoho, disclosed this on Tuesday while presenting the proposed 2026 budget and a review of the 2025 performance before the House of Representatives Committee on Ports and Harbours.
Dantsoho noted that while the NPA set a N1.468 trillion target in 2025, it realised N1.19 trillion in actual revenue. He explained that the 2026 projection reflects the agency’s renewed focus on infrastructure upgrades and operational efficiency.
According to him, out of the projected N1.489 trillion for 2026, N945 billion is earmarked for capital projects, N447.5 billion for operating expenses, and N90.6 billion for remittance into the Consolidated Revenue Fund (CRF).
He further revealed that the authority is set to commence major modernisation projects at Apapa and Tin Can Island ports, aimed at boosting global competitiveness and enhancing capacity.
Commending lawmakers for approving a loan to support the rehabilitation of the two key ports, Dantsoho said the intervention would significantly improve revenue generation.
“Apapa and Tin Can Island ports are very old and small for required global competitors in ports business. Apapa Port is about 100 years old while Tin Can is over 50 years with inadequate capacities in size and vessels containments for modernized operations. Ground breaking of projects on their modernization will commence in two or three weeks time,” he said.
The NPA boss added that the modernisation programme would also reshape port operations nationwide, particularly by redistributing traffic to other ports during construction.
“So, the assumptions, in summary, the assumptions underlying the estimates, that we are looking to achieve during the 2026 is that we are hoping that we, the commencement of the port modernization will help increase activities in the eastern ports. What that means is that because the constructions will start in Lagos, we have a technical way or operational way of diverting some of the vessels to other ports,” he stated.
Earlier in his remarks, Chairman of the Committee, Rep. Nnolim Nnaji, underscored the importance of appropriation in national development, describing it as a critical tool for socio-economic growth.
He also disclosed that the committee would soon embark on oversight visits to major ports across the country to assess ongoing projects and operational efficiency.
“We are also happy that the major infrastructural backbone of NPA, the Apapa and Tincan ports, are now receiving attention.
“We are also going to look at what we are doing with regards to port rehabilitation, concessioning, and what we are doing with regards to so many other things at NPA,” Rep. Nnaji said.
