Abuja The Nigerian Ports Authority (NPA) has disclosed that it has a proposed N1.489 trillion revenue target for the 2026 fiscal year which is N21 billion above N1.468trillion targeted and surpassed in 2025. This was disclosed by the Managing Director and Chief Executive Officer (MD/CEO), Dr Abubakar Dantsoho while presenting the proposed 2026 budget of the agency and performance of its 2025 budget before the House of Representatives Committee on Ports and Harbours on Tuesday.He stated that, the NPA has a total revenue of N1.489 trillion which he said is N21 billion higher than N1.468trillon targeted in 2025 from which N1.19trillion was realized as collected revenue.He further informed that, out of the projected N1.489 trrillion, N945 billion is earmarked for capital projects, N447.5 billion for operating expenses and N90.6 billon for remittance into the Consolidated Revenue Fund (CRF)He informed that, the NPA is set for the various modernization projects of Apapa and Tin Can Island ports for global competitiveness. Dr Dantsoho who commended the lawmakers for their approval of the proposed loan for the rehabilitation of Apapa and Tin Can Island Ports which he said will help increase the nation’s revenue.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.The NPA MD said, “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. In his remark earlier, Chairman, Hon. Nnolim Nnaji emphasize that Appropriation is crucial, fundamental and a vital tool in the socio-economic development of a nation. He added that very soon, the committee will alap 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”.
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