NPA Targets N1.489 Trillion IGR for 2026 Fiscal Year

The Nigerian Ports Authority (NPA), led by Managing Director Dr. Abubakar Dantsoho, has set a target of N1.489 trillion in Internally Generated Revenue (IGR) for the fiscal year 2026.

This figure represents an increase of N21 billion from the N1.468 trillion projected for 2025. The announcement was made during the agency's budget defense before the Senate Committee on Marine Transport.

The 2026 budget is designed to support the revenue ambitions of the NPA, with N945 billion earmarked for capital projects, N447.5 billion for operational expenses, and N90.6 billion for remittances to the Consolidated Revenue Fund. Dantsoho emphasized that the port modernization projects are crucial for driving future revenue growth, particularly through upgrades at Apapa and Tin Island ports, which are expected to enhance capacity and operational efficiency.

The federal government has intensified efforts to modernize Nigeria's port infrastructure to improve trade efficiency and maintain competitiveness in handling rising cargo volumes.