NPA proposes N1.489trn revenue target for 2026, plans modernization of Apapa and Tin Can Port

 

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.

This was disclosed by the NPA Managing Director and CEO, Dr. Abubakar Dantsoho, on Tuesday while presenting the agency’s proposed 2026 budget and reviewing the performance of the 2025 budget before the House of Representatives Committee on Ports and Harbours.

Dr. Dantsoho highlighted that out 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).

Speaking on plans for modernization, he disclosed that the NPA is preparing major rehabilitation projects for Apapa and Tin Can Island ports to enhance global competitiveness, adding “Apapa Port is about 100 years old, while Tin Can is over 50 years, both with limited capacity for modern operations. Groundbreaking for these modernization projects will commence in two to three weeks.”

The NPA boss also affirmed that the modernization will increase port activities nationwide, including diverting some vessels to eastern ports during construction, thereby boosting revenue.

Earlier in his remarks, Hon. Nnolim Nnaji, Chairman of the House Committee on Ports and Harbours, underscored the importance of appropriation as a key tool for socio-economic development.

Nnaji, announced that the committee will soon conduct oversight visits to major ports across the country and continue monitoring port rehabilitation, concessioning, and other NPA initiatives.

The NPA’s 2026 budget reveals its commitment to improving infrastructure, boosting operational efficiency, and positioning Nigerian ports for global competitiveness.