By 𝔸bdulrazak Tomiwa

The Nigerian Ports Authority (NPA) has proposed a N1.489 trillion revenue target for 2026, marking a N21 billion increase over the 2025 benchmark.

During a Senate budget defense, Managing Director Dr. Abubakar Dantsoho revealed the agency already exceeded expectations, with 2025 collections reaching N1.97 trillion.

The 2026 budget allocates N945 billion for capital projects, N447.5 billion for operating expenses, and N90.6 billion for the Consolidated Revenue Fund.

Themed “Consolidation, renewed resilience and shared prosperity,” the plan aims to strengthen the maritime economy through disciplined spending and strategic infrastructure investment.

A central priority is the modernization of Apapa and Tin Can Island ports, with groundbreaking scheduled within weeks. These upgrades aim to transform aging facilities into competitive hubs. By improving efficiency, the NPA expects these flagship ports to drive significant future revenue growth for the nation.

Dr. Dantsoho emphasized that an overhaul is critical because the current infrastructure is decades old and fails to meet global standards. Apapa Port is nearly a century old, while Tin Can Island has operated for over 50 years. Both lack the capacity required for modern international shipping.

Explaining the necessity of the project, Dr. Dantsoho stated, “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.”

Finally, the NPA reaffirmed its commitment to fiscal transparency via the Treasury Single Account (TSA) policy, remitting all earnings to the Central Bank. Through these infrastructure upgrades and strict financial management, the NPA aims to establish Nigeria as a leading maritime gateway and boost non-oil revenue.