The Nigerian Ports Authority (NPA) has announced a revenue target of N1.489 trillion for the 2026 fiscal year, alongside plans to modernise the country’s busiest seaports in Lagos.
Abubakar Dantsoho, Managing Director of the NPA, revealed the projections during the agency’s budget defence before the Senate Committee on Marine Transport. He described the initiative as a major step toward repositioning Nigeria’s maritime sector for global competitiveness.
The proposed target marks a N21 billion increase from the N1.468 trillion goal for 2025, a benchmark the NPA surpassed by recording N1.97 trillion in actual revenue. Central to the 2026 plan is a comprehensive upgrade of Apapa and Tin Can Island ports, both of which have exceeded their original capacities—Apapa nearing a century in operation and Tin Can Island functioning for over five decades.
Dantsoho confirmed that groundbreaking for the modernisation projects will begin within the next two to three weeks. The 2026 budget, themed “Consolidation, renewed resilience and shared prosperity,” allocates N945 billion for capital projects, N447.5 billion for operational costs, and N90.6 billion for remittance into the Consolidated Revenue Fund.
He also reiterated that all NPA revenues are remitted directly into the Treasury Single Account (TSA) managed by the Central Bank of Nigeria (CBN), with funds accessed through formal requests in compliance with federal financial regulations.
The Senate Committee on Marine Transport, chaired by Wasiu Eshinlokun, emphasized that their oversight is intended to support improved performance rather than confront the agency.
