By Gloria Ikibah
The Nigerian Ports Authority (NPA) has set an ambitious revenue target of N1.489 trillion for the 2026 fiscal year, signalling renewed confidence in its operations and expansion plans.
The projection, presented by the agency’s Managing Director, Abubakar Dantsoho, marks an increase of N21 billion above the N1.468 trillion target set for 2025, which was exceeded despite actual collections standing at about N1.19 trillion. 
Dantsoho outlined the financial plan during a budget presentation before the House of Representatives Committee on Ports and Harbours, where he also reviewed the agency’s 2025 performance.
According to the breakdown, a significant portion of the projected revenue about N945 billion, has been allocated to capital projects, underscoring the agency’s focus on infrastructure development. Operating expenses are expected to take N447.5 billion, while ₦90.6 billion is earmarked for remittance into the Consolidated Revenue Fund.
A major priority for the NPA in the coming year is the modernisation of key port facilities, particularly at Apapa and Tin Can Island, as part of efforts to improve efficiency and position Nigeria’s ports for global competitiveness.
The agency is also preparing to extend upgrades to other port locations, in line with broader plans to strengthen the maritime sector and boost national revenue.
Dantsoho acknowledged the support of lawmakers in approving funding arrangements for the rehabilitation of the Apapa and Tin Can Island ports, noting that the projects are expected to enhance capacity, improve operations and drive higher earnings for the country.
He said, “Apapa and Tin Can Island ports are very old and small for required global competitors in ports business. Apapa Port is about 100 years old while Tin Can is over 50 years with inadequate capacities in size and vessels containments for modernized operations. Ground breaking of projects on their modernization will commence in two or three weeks time.
“So, the assumptions, in summary, the assumptions underlying the estimates, that we are looking to achieve during the 2026 is that we are hoping that we, the commencement of the port modernization will help increase activities in the eastern ports. What that means is that because the constructions will start in Lagos, we have a technical way or operational way of diverting some of the vessels to other ports”.
Earlier in his remark, Chairman of the Committee, Rep. Nnolim Nnaji stressed that Appropriation is crucial, fundamental and a vital tool in the socio-economic development of a nation.
He stated that the committee will soon undertake oversight of some major ports across the country.
“We are also happy that the major infrastructural backbone of NPA, the Apapa and Tincan ports, are now receiving attention.
“We are also going to look at what we are doing with regards to port rehabilitation, concessioning, and what we are doing with regards to so many other things at NPA”, he said.
