The Nigerian Ports Authority (NPA) is raising its financial and operational ambitions for 2026, unveiling a revenue target of N1.489 trillion alongside plans to overhaul two of the country’s busiest seaports, Apapa and Tin Can Island, in a push to boost efficiency and global competitiveness.
Speaking during the agency’s 2026 budget defence before the Senate Committee on Marine Transport, the ports regulator’s Managing Director, Mr Abubakar Dantsoho, said the new revenue projection reflects a strategic shift focused on strengthening resilience and driving sustainable growth across Nigeria’s port system.
The proposed figure represents an increase over the N1.468 trillion initially projected for 2025, a benchmark the authority not only met but exceeded, recording approximately N1.97 trillion in revenue collections.
A breakdown of the 2026 proposal shows a strong tilt toward infrastructure development, with N945 billion allocated to capital expenditure. Operating costs are projected at N447.5 billion, while N90.6 billion is expected to be remitted to the federal government’s Consolidated Revenue Fund.
Central to the NPA’s transformation agenda is the planned modernisation of Apapa Port and Tin Can Island Port, two critical gateways for Nigeria’s maritime trade. Dantsoho noted that both facilities, due to their age and outdated capacity, require urgent upgrades to meet the demands of modern shipping and logistics operations.
He disclosed that preliminary work on the projects is set to begin within weeks, marking a significant step toward repositioning Nigeria’s ports within the global maritime value chain.
On financial operations, the NPA boss reiterated that all revenues generated by the authority are remitted directly into the Treasury Single Account managed by the Central Bank of Nigeria, stressing that the agency operates without retaining independent revenue.
In his remarks, Chairman of the Senate Committee on Marine Transport, Mr Wasiu Eshinlokun, underscored the importance of collaboration between lawmakers and agencies. He noted that the committee’s oversight function is designed to improve efficiency, strengthen institutional performance, and ensure responsible use of public funds.