NPA Targets N1.489trn Revenue For 2026

The Nigerian Ports Authority (NPA) has projected an Internally Generated Revenue (IGR) of N1.489 trillion for the 2026 fiscal year, representing an increase of N21 billion above the N1.468 trillion target it exceeded in 2025.

The authority also disclosed plans to commence groundbreaking projects aimed at modernizing Apapa and Tin Can Island ports to enhance global competitiveness.

The Managing Director of NPA, Dr. Abubakar Dantsoho, made this known on Monday during the 2026 budget defence session before the Senate Committee on Marine Transport.

Presenting the agency’s 2026 budget proposal, Dr. Dantsoho stated that the projected N1.489 trillion revenue is N21 billion higher than the N1.468 trillion targeted and surpassed in 2025, noting that the authority recorded an actual revenue collection of N1.97 trillion last year.

He explained that out of the projected N1.489 trillion for 2026, N945 billion is allocated to capital projects, N447.5 billion for operating expenses, and N90.6 billion for remittance into the Consolidated Revenue Fund.

According to him, the budget is built on the theme of “Consolidation, renewed resilience and shared prosperity,” with the modernization of Apapa and Tin Can Island ports serving as flagship initiatives to boost revenue generation.

“Apapa and Tin Can Island ports are very old and inadequate for the level of global competition required in the ports business.

“Apapa Port is about 100 years old, while Tin Can Island Port is over 50 years old, both with limited capacity in terms of size and vessel accommodation for modern operations.

“Groundbreaking for their modernization will commence within the next two to three weeks,” he said.

On the Treasury Single Account (TSA), Dr. Dantsoho clarified that all revenues generated by the NPA are paid directly into the account managed by the Central Bank of Nigeria.

“We do not retain any funds. The Central Bank is the signatory, and we must apply for funds whenever the need arises,” he explained.

In his remarks, Chairman of the Committee, Senator Wasiu Eshinlokun (Lagos Central), emphasized that the committee’s oversight of the NPA is collaborative rather than adversarial.
“Our objective is to work with you to strengthen institutional capacity, eliminate inefficiencies, and ensure that every naira appropriated is used in the public interest,” he said.

James Itodo, Edited By Grace Namiji