NPA SETS N1.489 TRILLION REVENUE TARGET FOR 2026, PLANS MAJOR PORT MODERNIZATION
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Agency Report
The Nigerian Ports Authority (NPA) has set a revenue target of N1.489 trillion for the 2026 fiscal year, surpassing its 2025 target of N1.468 trillion by N21 billion.
The announcement was made by the NPA Managing Director and CEO, Dr. Abubakar Dantsoho, while presenting the agency’s proposed 2026 budget and reviewing the 2025 performance before the House of Representatives Committee on Ports and Harbours on Tuesday.
Dr. Dantsoho explained that of the projected N1.489 trillion, 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 highlighted plans for modernization, noting major rehabilitation projects at Apapa and Tin Can Island ports to enhance global competitiveness. “Apapa Port is about 100 years old, while Tin Can is over 50 years, both with limited capacity for modern operations. Groundbreaking for these projects will commence in two to three weeks,” he stated.
Dr. Dantsoho added that the modernization projects will boost port activities nationwide, including diverting some vessels to eastern ports during construction, which is expected to increase revenue.
Earlier, Hon. Nnolim Nnaji, Chairman of the House Committee on Ports and Harbours, stressed the importance of proper appropriation for socio-economic development. He assured that the committee will conduct oversight visits to major ports and continue monitoring port rehabilitation, concessioning, and other NPA initiatives.
The 2026 NPA budget underscores the authority’s commitment to infrastructure improvement, operational efficiency, and positioning Nigerian ports for global competitiveness.
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