NPA targets N1.489 trillion revenue
By Tony Akowe, Abuja Managing Director of the Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho said the authority has a proposed N1.489 trillion revenue target for the 2026 fiscal year
By Tony Akowe, Abuja
Managing Director of the Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho said the authority has a proposed N1.489 trillion revenue target for the 2026 fiscal year which is N21 billion above N1.468trillion targeted and surpassed in 2025.
He said the agency is also set for the various modernization projects of the Apapa and Tin Can Island ports to make them globally competitive.
Dr Dantsoho who spoke when he defended the agency’s 2026 budget however commended the lawmakers for their approval of the proposed loan for the rehabilitation of Apapa and Tin Can Island Ports which he said will help increase the nation’s revenue.
He said: “Apapa and Tin Can Island ports are very old and small for required global competitors in the ports business. Apapa Port is about 100 years old while Tin Can is over 50 years old with inadequate capacities in size and vessel containments for modernized operations. Ground breaking of projects on their modernization will commence in two or three weeks’ time.
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“So, the assumptions, in summary, the assumptions underlying the estimates, that we are looking to achieve during 2026 is that we are hoping that 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 said the NPA has total revenue of N1.489 trillion which he said is N21 billion higher than N1.468trillon targeted in 2025 from which N1.19trillion was realized as collected revenue.
He further explained that out of the projected N1.489 trillion, N945 billion is earmarked for capital projects, N447.5 billion for operating expenses and N90.6 billon for remittance into the Consolidated Revenue Fund (CRF)
Chairman of the House Committee on Ports and Harbour, Nnolim Nnaji said appropriation is crucial, fundamental and a vital tool in the socio-economic development of a nation, adding that very soon, the committee will also undertake oversight of some major ports across the country.
“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.”
