NPA half year revenue hits N191.4bn

The revenue profile of the Nigerian Ports Authority (NPA) has hit N191.4 billion in the last six months.

The Managing Director of NPA, Mr. Mohammed Bello-Koko who disclosed this said the agency is projecting revenue of N500 billion by the year 2023 end.

He said the Authority was able to achieve this feat due to the current momentum and the trend of the shipping sector which volume peaked from December of 2022 to July 2023.

He said NPA, in the same period, remitted N55.713 billion to the Consolidated Revenue Fund (CRF) of the federation.

Koko said given the existential economic headwinds, both at the micro and macro levels, these operational statistics for the first six months were reassuring, adding that they catalyzed the commendable remittances to the Consolidated Revenue Fund (CRF) of the federal government thus far.

 “The smart policy thrust of the new administration which is already throwing up new vistas of growth, further lends credence to the feasibility of our projections and gives fillip to our organizational initiatives.”

Koko added that “the operationalization of Lekki Deep Seaport, expected restoration of the service boat management contract, digitalisation and intensified tightening of collections mechanisms buoys our confidence at meeting and indeed exceeding the revenue projections.” 

Speaking further, Koko said: “The remaining half of the year 2023 will be focused on finalising financing arrangements for our port rehabilitation drive, conclusion of all digitalisations geared towards the improvement of efficiency and collaboration with landlocked neighbouring countries like Niger and Chad with whom we have already opened discussions to patronize our ports as hubs for transshipment cargo.”