NPA proposes N1.489trn revenue for 2026

…Plans Modernization of Apapa and Tin Can Ports

By Henry Umoru, Abuja

The Nigerian Ports Authority (NPA) has proposed a target of N1.489 trillion as internally generated revenue for the 2026 fiscal year, exceeding the N1.468 trillion targeted and surpassed in 2025.

Speaking on Monday in Abuja during the 2026 budget defense session with the Senate Committee on Marine Transport, NPA Managing Director, Dr. Abubakar Dantsoho, highlighted plans for the modernization of Apapa and Tin Can Island ports to enhance global competitiveness.

According to Dantsoho, out of the projected N1.489 trillion revenue for 2026, N945 billion is earmarked for capital projects, N447.5 billion for operating expenses, and N90.6 billion for remittance to the Consolidated Revenue Fund. He noted that the budget is guided by the mantra of “Consolidation, Renewed Resilience, and Shared Prosperity,” with port modernization as a flagship initiative to boost revenue.

“Apapa and Tin Can Island ports are very old and limited in capacity to meet global standards. Apapa Port is about 100 years old, while Tin Can is over 50 years old, both lacking adequate size and vessel containment for modern operations. Groundbreaking for their modernization will commence in the next two to three weeks,” he said.

On the Treasury Single Account (TSA), Dantsoho explained that all NPA-generated revenues are deposited directly into the account controlled by the Central Bank of Nigeria, adding, “We do not retain any funds. The Central Bank is the signatory, and we must request funds when needed.”

Senator Wasiu Eshinlokun, APC, Lagos Central and Chairman of the Senate Committee, emphasized that the oversight role of the committee is collaborative, not adversarial. “Our goal is to work with NPA to strengthen institutional capacity, eliminate inefficiencies, and ensure every naira appropriated serves the public interest,” he said.

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