The Nigerian Ports Authority (NPA) has set a revenue target of N1.489tn for the 2026 fiscal year, signalling a modest increase of N21bn over its 2025 target of N1.468tn, which it exceeded.
Managing Director of the NPA, Dr Abubakar Dantsoho, disclosed this on Monday during the agency’s 2026 budget defence before the Senate Committee on Marine Transport.
Dantsoho said the 2026 projection is underpinned by improved operational efficiency and ongoing reforms, noting that the authority outperformed its 2025 target with an actual revenue of N1.97 trillion.
A breakdown of the 2026 proposal shows that N945 billion is earmarked for capital expenditure, N447.5 billion for operating costs, while N90.6 billion is projected for remittance into the Consolidated Revenue Fund.
He said the budget is anchored on the policy thrust of “consolidation, renewed resilience and shared prosperity,” with a strong focus on infrastructure upgrades to boost competitiveness.
Central to this strategy is the planned modernisation of Apapa and Tin Can Island ports, with groundbreaking expected within weeks.
Dantsoho described both facilities as ageing and capacity-constrained, noting that Apapa Port is over 100 years old, while Tin Can Island Port is over 50 years old.
He said the upgrades would enhance vessel handling capacity and position Nigeria more competitively in global maritime trade.
On revenue management, Dantsoho reiterated that all NPA earnings are remitted directly into the Treasury Single Account (TSA) domiciled with the Central Bank of Nigeria (CBN), adding that the authority does not retain operational funds and must apply for releases when needed.
Chairman of the Senate Committee on Marine Transport, Senator Wasiu Eshinlokun, said the committee would continue to work with the NPA to strengthen institutional capacity and improve efficiency.
“Our objective is to ensure prudent utilisation of public resources and that appropriated funds deliver measurable value,” he said.
