The Nigerian Ports Authority (NPA) is targeting N1.489 trillion in internally generated revenue (IGR) for the 2026 fiscal year, reflecting its drive to strengthen earnings from port operations.
The disclosure was made by the Managing Director of the NPA, Dr. Abubakar Dantsoho, during the agency’s 2026 budget defence before the Senate Committee on Marine Transport, according to the News Agency of Nigeria (NAN).
The target signals a modest increase from prior projections and comes amid ongoing efforts to modernise port infrastructure and improve efficiency across Nigeria’s maritime sector.
What they are saying
Dantsoho stated that the N1.489 trillion target represents an increase of N21 billion over the N1.468 trillion projection for 2025, which the authority exceeded significantly.
- “The Nigerian Ports Authority (NPA) has set N1.489 trillion as its Internally Generated Revenue (IGR) target for the 2026 fiscal year.
- “The figure represents an increase of N21 billion over the N1.468 trillion target for 2025, which the agency exceeded with an actual revenue of N1.97 trillion.
- “The Managing Director of the NPA, Dr Abubakar Dantsoho, stated this on Monday during the agency’s 2026 budget defence before the Senate Committee on Marine Transport,” the NAN report read in part.
He added that the authority’s 2026 budget is designed to support its revenue ambitions, with N945 billion earmarked for capital projects, N447.5 billion for operating expenses, and N90.6 billion for remittances into the Consolidated Revenue Fund, reflecting a focus on growth and operational efficiency.
More insights
Dantsoho further explained that port modernisation projects would play a central role in driving future revenue growth.
The planned upgrades of Apapa and Tin Can Island ports are expected to boost capacity and efficiency, as both facilities are ageing and require modern infrastructure.
- Apapa Port is about 100 years old, while Tin Can Island Port has been in operation for over 50 years, highlighting the urgency of rehabilitation.
- Groundbreaking for the modernisation projects is expected to begin within the next two to three weeks.
- All revenue generated by the NPA is paid into the Treasury Single Account managed by the Central Bank of Nigeria, meaning the agency does not retain funds and must request allocations when needed.
He noted that these reforms are critical to sustaining growth and ensuring Nigeria’s ports remain competitive in handling rising cargo volumes.
Get up to speed
The Federal Government has recently intensified efforts to overhaul Nigeria’s port infrastructure and improve trade efficiency.
Earlier in March, the federal government unveiled a £746 million financing agreement with the United Kingdom to modernise key seaports.
- The deal, backed by UK Export Finance, targets major upgrades at Apapa and Tin Can Island ports in Lagos.
- The programme includes advanced cargo-handling systems, expanded capacity, and digitalised operations to reduce congestion.
- Phase 1 of the National Single Window has also been launched to cut cargo dwell time from an average of 21 days to under 7 days by 2026.
These initiatives are aimed at addressing longstanding bottlenecks and positioning Nigeria as a more efficient maritime hub.
What you should know
- Total cargo throughput across Nigerian ports rose by 24.8% to 129.3 million metric tonnes in 2025, while container traffic increased by 25.7% to over 2.1 million TEUs.
- Onne Port accounted for 19.1% of cargo throughput, followed by Apapa Port at 16.7%, while Tin Can Island Port led in ship arrivals with 22.7% of vessel calls.
- Imports dominated with 59.2% of total cargo, exports accounted for 39%, and trans-shipment contributed 1.8%, with liquid bulk cargo leading overall volumes.
The performance data underscores the growing importance of modern port infrastructure and the need for continued investment to sustain growth in Nigeria’s maritime sector.
