Port Reconstruction Begins Q3 As NPA Secures $1bn Funding

The managing director of the Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho, said the authority has secured the full financing required for its $1 billion port reconstruction programme, with physical construction scheduled to commence before the end of the third quarter of 2026.

Dantsoho said the landmark port modernisation programme, one of the Federal Government’s flagship infrastructure initiatives under the Ministry of Marine and Blue Economy, is designed to overhaul ageing port facilities, deepen navigational channels and automate terminal operations to enhance Nigeria’s competitiveness as a regional maritime hub.

He explained that all financial arrangements for the project had been concluded with international lenders, while preparatory activities, including stakeholder consultations and host community engagements, were nearing completion ahead of site mobilisation.

According to him, “Funding has been fully secured. The $1 billion port reconstruction loan was negotiated with reputable foreign financing partners and international lending institutions.

We have completed the financial structuring and administrative terms. While loan servicing obligations have commenced as scheduled, the physical deployment of capital is synchronised directly with the Q3 2026 site mobilisation,” he stated.

The NPA boss said Nigerians should begin to witness visible infrastructure upgrades from the fourth quarter of the year, adding that the modernisation programme is expected to significantly improve port efficiency.

“The Port Modernisation Programme is our landmark initiative designed to comprehensively overhaul aging quay walls, deepen navigational channels, and fully automate terminal infrastructure across all port locations.

“Physical construction works for the $1 billion port modernisation programme will officially commence by the end of Q3 2026. Nigerians can therefore expect to see major physical infrastructural upgrades and operational equipment overhauls beginning from Q4 2026.”

He noted that, once completed, the project is projected to cut vessel turnaround time by up to 50 per cent while improving cargo-handling efficiency across the nation’s seaports.

Beyond civil works, Dantsoho said the modernisation programme also covers green port initiatives, the acquisition of modern marine equipment, the rehabilitation of damaged quay walls, and the deployment of advanced Vessel Traffic Service (VTS) technology to strengthen navigation safety and operational efficiency.

“We are currently acquiring state-of-the-art tugboats and pilot cutters, rehabilitating damaged quay walls at Tin-Can and Apapa, and installing modern Vessel Traffic Service technology to monitor and safeguard Nigerian territorial waters,” he added.

The NPA boss also identified the expansion of Export Processing Terminals (EPTs), digital billing, and improved trade facilitation as key strategies to sustain revenue growth and support Nigeria’s economic diversification agenda over the next 12 months.

Dantsoho said the Authority’s priorities are centred on strengthening trade performance, improving operational efficiency and increasing remittances to the Federal Government through technology-driven reforms.

He argued that Nigeria’s trade performance provides a strong foundation for the Authority’s growth plans.

“Our priorities are anchored on robust trade performance. Nigeria recorded a notable trade surplus of N7.54 trillion in Q1 2026 alone, and we are positioned to support this momentum,” he said.

Dantsoho said stakeholders should expect sustained revenue remittances into the Consolidated Revenue Fund through cost optimisation and improved billing systems.

“Over the next 12 months, stakeholders should expect sustained revenue remittances into the Consolidated Revenue Fund through cost optimisation and digital billing accuracy,” he stated.

He added that the Authority would also deploy upgraded night-navigation facilities across non-Lagos ports to support round-the-clock vessel movements.

“We will deploy upgraded night-navigation aids to enable round-the-clock vessel manoeuvres across non-Lagos ports, including Onne, Calabar and Warri,” he said.

The NPA boss further disclosed that the expansion of dedicated Export Processing Terminals would play a critical role in increasing non-oil exports and supporting the Federal Government’s economic diversification programme.

He explained that the Authority is also accelerating the deployment of the Port Community System (PCS), which will seamlessly integrate with the National Single Window to simplify cargo clearance procedures.

“Digitalisation is the cornerstone of our strategy to eliminate procedural delays and lower the cost of doing business. Our target is to bring down cargo clearance dwell time from double-digit days to under 48 hours, thereby making Nigerian ports more competitive and predictable,” Dantsoho said.

He maintained that the combination of digital reforms, export infrastructure and operational efficiency would strengthen the Authority’s revenue base while positioning Nigeria as the preferred maritime gateway in West and Central Africa.