After N700bn Remittance, NPA Plans 62% Capital Expenditure Spending

The Nigerian Ports Authority (NPA) has unveiled plans to significantly ramp up investment in port infrastructure, proposing to allocate 62 per cent of its revenue to capital expenditure (CapEx) in the 2026 fiscal year.

This was disclosed during the Authority’s budget defence before the Senate Committee on Marine Transport.

Managing director of the NPA, Abubakar Dantsoho, revealed that the agency demonstrated strong financial performance in 2025, achieving 82 per cent revenue collection efficiency.

He added that the Authority remitted over N700 billion to the Consolidated Revenue Fund (CRF) within the same period, after committing 38 per cent of its revenue to capital projects.

Building on this performance, the NPA is now seeking approval from the National Assembly to increase its capital spending to 62 per cent of its Internally Generated Revenue (IGR) in 2026.

The proposed increase, according to the Authority, aligns with the federal government’s renewed focus on modernising port infrastructure, enhancing operational efficiency, and upgrading critical equipment across the nation’s seaports.

The move is expected to strengthen trade facilitation, improve cargo turnaround time, and position Nigeria’s ports to better compete in the global maritime industry.