By Obiabin Onukwugha
The Nigeria Ports Authority has proposed a revenue target of N1.489 trillion for the 2026 fiscal year.
This comes as the Authority stated that it remitted over ₦700 billion to the Consolidated Revenue Fund (CRF) after utilizing 38% of her revenue for capital expenditure in 2025.
Managing Director of NPA, Abubakar Dantsoho, stated this during the Authority’s 2026 budget defence before the Senate Committee on Marine Transport, on Monday.
Dantsoho said the proposed figure is N21billion higher than the N1.468 trillion revenue target set for 2025, which the authority exceeded.
He said the NPA collected 82% of the revenue it generated in the preceding fiscal year, 2025. “For the 2026 fiscal year, the NPA is seeking the National Assembly’s approval to allocate 62% of its Internally Generated Revenue (IGR) to CapEx.
“This increased investment reflects the federal government’s focus on upgrading port infrastructure, improving operational efficiency, and renewing equipment to better support trade facilitation across Nigeria’s ports,” he said.
According to him, N945 billion of the projected 2026 revenue will be allocated to capital projects, N447.5 billion will be allocated for operating expenses, while N90.6 billion will be remitted into the consolidated revenue fund.
Dantsoho said the 2026 budget proposal is anchored on the theme ‘consolidation, renewed resilience and shared prosperity’, pointing out that the modernisation of Apapa and Tin Can Island ports will serve as flagship projects aimed at boosting revenue and improving global competitiveness.
“Apapa and Tin Can Island ports are very old and small for the required global competitors in the ports business. Apapa port is about 100 years old, while Tin Can is over 50 years old with inadequate capacities in size and vessel containment for modernised operations.
“Groundbreaking of projects on their modernisation will commence in two or three weeks’ time,” he said.
Dantsoho added that all revenues generated by the authority are deposited directly into the treasury single account (TSA), saying, “We do not retain any funds. The central bank is the signatory, and we must apply for funds whenever needed.”
In his remarks, Wasiu Eshinlokun, chairman of the senate committee on marine transport, said the committee’s oversight responsibility over the NPA is to work and strengthen institutional capacity, eliminate inefficiencies, and ensure that every naira appropriated serves the public interest.
