NPA Targets N1.489 Trillion Revenue with Port Modernization

The Nigerian Ports Authority (NPA), led by Managing Director Dr. Abubakar Dantsoho, has set an ambitious revenue target of N1.489 trillion for the 2026 fiscal year, exceeding the previous year's target of N1.468 trillion by N21 billion. This announcement was made during a budget defense session where the agency outlined its financial strategies and priorities for the upcoming year.

A proposed allocation of N945 billion is earmarked for capital projects, with N447.5 billion designated for operational expenses, and an additional N90.6 billion expected to be remitted to the Consolidated Revenue Fund (CRF). Dantsoho emphasized the need for modernization at Nigeria's two busiest seaports, Apapa and Tin Can Island, which are outdated and struggle to meet global competition demands.

Groundwork for modernization projects is set to commence within two to three weeks, with expectations of temporary shifts in maritime activities. Hon. Nnolim Nnaji, Chairman of the House Committee on Ports and Harbour, expressed the committee's full support for NPA's modernization agenda.