The Nigerian Ports Authority (NPA) remittances to the Consolidated Revenue Account (CRA) of the Federal Government have increased from N80 billion to N91 billion in the last one year.
The increase in remittance is coming amidst low Importation into the country and dwindling revenue generation by some agencies of government.
Information obtained on Thursday attributed the increase to the private background of the NPA Managing Director, Muhammed Bello-Koko.
Bello-Koko, was appointed acting Managing Director of the NPA on May 6, 2021 and was confirmed substantive on February 21, 2022.
Meanwhile, NPA revenue has risen from N317 billion in 2020 to N361billion in 2022, thereby, supporting the federal government in meeting its obligation to Nigerians.
“The NPA has supported the national economy through unprecedented revenue generation and remittances to CRF of the federation with revenues steadily growing from N317 billion in 2020 to N361billion in 2022 and remittances progressively soaring from 80 Billion in 2020 to 91Billion by financial year end 2022.
“The NPA created new businesses and attendant job opportunities such as the barge operations services which apart from reducing pressure on the roads has grown into a N2 billion annual generation business both from direct investment and accompanying externalities. Licensing of additional truck parks to increase capacity of truck parks servicing the Lagos Ports, “said an official of the NPA
As part of his measure to improve ease of doing business at the ports, the Bello-Koko recently approved the licensing of 10 Export Processing Terminals (EPT) to facilitate seamless export cargo out of the nation’s seaports.
“Licensing of 10 Export Processing Terminals to facilitate exports at Nigerian Sea Ports is to provide a one-stop shop for export where quality control, cargo assessment by all government agencies and issuance of good-to-ship clearance will be obtained. This has led to a significant reduction in truck turn-around time due to successful implementation of the E-Call Up System, “an importer, said recently.
The NPA has also engaged the International Maritime Organization (IMO), on the development of Port Community System on the automation and digitalization of the port processes.
“The current management has engaged with the IMO on development of Port Community System pursuant to the IMO instrument on automation and digitalization of port processes. Also, award of consultancy for the deployment of Vessel Traffic Service (VTS); a maritime safety measure that equips with Domain Awareness Capability to enable us guide and provide safety information to vessels within our channels and ports approaches in line with the Safety of Life at Sea (SOLAS) conventions, “an official of the NPA said.