NPA Targets N1.489 Trillion Revenue for 2026 Fiscal Year
The Nigerian Ports Authority (NPA), led by Managing Director Dr. Abubakar Dantsoho, proposed a revenue target of N1.489 trillion for the 2026 fiscal year during a budget defense session before the Senate Committee on Marine Transport. This target is N21 billion higher than the previous target of N1.468 trillion and aims to surpass the revenue collected in 2025, which was projected at N1.97 trillion.
The budget allocates N945 billion for capital projects, N447.5 billion for operational expenses, and N90.6 billion for remittances to the Consolidated Revenue Fund. Dr. Dantsoho emphasized the importance of modernizing the Apapa and Tin Island ports, which are crucial for global competitiveness, as they are outdated and require significant upgrades.
The groundbreaking for these modernization projects is expected to commence within two to three weeks. Furthermore, the NPA will manage its revenue through the Treasury Single Account (TSA), ensuring direct control by the Central Bank of Nigeria.
Plus234Feed summary based on reporting from Blueprint. Read the original report below.
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