The Nigerian Ports Authority, NPA, has projected N1.489 trillion in internally generated revenue, IGR for 2026—N21 billion above last year’s target, which it already surpassed.
NPA managing director, Dr. Abubakar Dantsoho told the Senate Committee on Marine Transport on Monday that the agency also plans a ground-breaking for modernising the Apapa and Tin Can Island Ports
Speaking during the 2026 budget defence, Dantsoho said NPA collected N1.97 trillion in 2025, beating the N1.468 trillion target.
Of the 2026 projection, he explained, N945 billion would go to capital projects, N447.5 billion to operations and N90.6 billion to the Consolidated Revenue Fund, CRF.
According to him, the budget’s theme: “Consolidation, Renewed Resilience and Shared Prosperity” centres on the port upgrades to boost global competitiveness.
“Apapa Port, at a century old, and Tin Can, over 50, are too small for modern vessels,” Dantsoho noted, adding that work will begin in two or three weeks.
The managing director disclosed that NPA earnings flow directly into the Treasury Single Account, TSA controlled by the Central Bank of Nigeria, CBN. saying “we don’t retain funds and must apply whenever needed.”
In his remarks, the committee chairman, Senator Wasiu Eshinlokun (APC, Lagos Central) stressed that Senate oversight is collaborative, not adversarial.
“Our goal is to work with you to strengthen institutional capacity, eliminate inefficiencies and ensure that every naira appropriated serves the public interest,” he said.
