NPA Sets Ambitious Revenue Goal Amid Port Modernisation Push

The Nigerian Ports Authority, NPA, has set a revenue target of 1.489 trillion naira for 2026, slightly higher than the 1.468 trillion naira target for 2025.

NPA Managing Director, Abubakar Dantsoho disclosed the figure while presenting the agency’s proposed 2026 budget and its 2025 performance to the House of Representatives Committee on Ports and Harbours.

Dantsoho said the 2026 projection exceeds the previous year’s target by about 21 billion naira, although actual revenue collected in 2025 stood at 1.19 trillion naira.

He said of the projected 2026 revenue, about 945 billion naira is allocated for capital projects, 447.5 billion naira for operating expenses and 90.6 billion lookupnaira for remittance to the Consolidated Revenue Fund.

The NPA also plans to begin modernization of the Apapa and Tin Can Island ports in Lagos within weeks, aiming to boost efficiency and competitiveness.

“Apapa and Tin Can Island ports are very old and too small for modern port operations,” Dantsoho said, noting that Apapa Port is about a century old, while Tin Can Island Port is more than 50 years old.

He said construction work is expected to begin within two to three weeks, following lawmakers’ approval of financing for the rehabilitation projects, which he said would help increase revenue.

Dantsoho added that activities at eastern ports could rise during the upgrades, as vessel traffic may be redirected from Lagos during construction.

Earlier, Committee Chairman Nnolim Nnaji said the budget process remains critical to national development and pledged continued oversight of port operations and infrastructure projects.

He said lawmakers would assess ongoing port rehabilitation and concession arrangements as part of their oversight responsibilities.

Oduyemi Odumade, Edited By Grace Namiji