The Nigerian Ports Authority (NPA) aims to generate N1.489 trillion as internal revenue (IGR) this year.

According to the Managing Director of the organisation, Dr Abubakar Dantsoho, the targeted revenue is N21 billion, higher than the N1.468 trillion target set in 2025.

Dantsoho spoke in Abuja on Monday when he appeared before the Senate Committee on Marine Transport to defend his agency’s 2026 budget proposals.

He said the NPA later surpassed the 2025 target by generating N1.97 trillion.

Dantsoho told the committee that out of the projected N1.489 trillion, the sum of N945 billion would be utilised for capital projects; N447.5 billion for operating expenses,+ and N90.6 billion for remittance into the Consolidated Revenue Fund of the Federal Government.

Among the key projects listed for execution this year, the MD talked about the modernisation of Apapa and Tin Can Island Ports, a move aimed at expanding revenue windows.

The MD stated, “Apapa and Tin Can Island ports are very old and small for the required global competitors in the ports business.

“Apapa Port is about 100 years old, while Tin Can is over 50 years old, with inadequate capacities in size and vessel containment for modernised operations.

“The groundbreaking of projects on their modernisation will commence in two or three weeks’ time.”

Speaking on the Treasury Single Account (TSA), Dantsoho told the committee that revenue generated by the NPA was lodged into the account under the control of the Central Bank of Nigeria (CBN).

He said, “We do not retain any funds. The Central Bank is the signatory, and we must apply for funds whenever needed.”

The Chairman of the Committee, Senator Wasiu Eshinlokun (Lagos-Central), said lawmakers would work closely with the agency to ensure that it delivered on its mandate and projects this year, adding, “Our goal is to work with you to strengthen institutional capacity, eliminate inefficiencies and ensure that every naira appropriated serves the public interest.”

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