NPA Makes N191.4bn in First Half of 2023, Remits N55.7bn to Consolidated Revenue Fund

NPA Makes N191.4bn in First Half of 2023, Remits N55.7bn to Consolidated Revenue Fund

  • The Nigerian Ports Authority has said it has generated about N191.4 billion in the first six months of 2023
  • Mohammed Bello Koko revealed that the Authority also remitted about N55.7 billion to the Consolidated Revenue Fund of the Federation
  • He said NPA targets N500 billion in revenue by the end of the year as activities peak

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The Nigerian Ports Authority (NPA) has generated total revenue of N191.4 billion from its operations in the first half of 2023, remitting N55.712 billion to the Consolidated Revenue Fund (CRF) of the Federation.

ThisDay reports that the disclosure is in a half-year 2023 performance report released by the NPA’s Managing Director and Chief Executive Officer, Mohammed Bello Koko.

NPA, Federal Govermment
NPA Chief Executive Officer, Mohammed Bello Koko Credit: NPA
Source: UGC

Speaking on the report, Bello-Koko said that the existential economic headwinds at the micro and macro levels and the operational statistics for the first six months are reassuring.

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The NPA CEO noted that the statistics also form the basis of the commendable remittances to the Consolidated Revenue Fund (CRF) of the Federal Government by the agency.

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He said:

“Viewed within the context of current global economic upheavals which have affected trade volumes in all climes, our current growth trajectory is encouraging and gives us the confidence to project revenue growth of over N500 billion with a simultaneous increase in remittance to CRF by end-of-year 2023, given that shipping activities peak around the second half of the year.
“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.”

In addition, Koko said that the operationalization of Lekki Deep Seaport, the expected restoration of the service boat management contract, digitalization, and intensified tightening of collections mechanisms boosts the NPA’s confidence.

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According to Koko, the Authority has also completed operations on 1,851 vessels for the 1st half of 2023 with a combined Gross Registered Tonnage (GRT) of 57,870,083 million.

Also, Cargo throughput for the period under review stood at 33,895,784 metric tonnes, while container traffic recorded a high 707,985 TEUs (Twenty-foot Equivalent Units).

A key indicator of port efficiency, the average turn-around-time (TAT) of vessels, stood at 5.16 days.

“This is an improvement, and we have put measures in place to surpass in the second half of 2023,” says Mohammed Bello Koko.

Bello Koko said:

“We are poised to transform our projections to actualities. The remaining half of the year 2023 will be focused on finalizing financing arrangements for our port rehabilitation drive, the conclusion of all digitalization geared towards the improvement of efficiency and collaboration with landlocked neighboring countries like Niger and Chad, with whom we have already opened discussions to patronize our ports as hubs for transshipment cargo.”

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The NPA boss concluded by assuring that as a management team, the agency’s executives will remain unwavering in our resolve to improve service excellence continuously, blocking avenues of income leakages, curbing waste, and tightening collection mechanisms in a bid to surpass stakeholders’ expectations and support the national economy.

NPA inaugurates modern Control Towers for Lagos Port Complexes reported that the Nigerian Ports Authority (NPA) has inaugurated brand new, modern control towers for port complexes in Lagos.

NPA said the commissioning of the control towers signifies its commitment to improving efficiency via bold infrastructure and equipment renewal.

The NPA stated that safety and security constitute the essential operational preconditions needed to realize its strategic goal of becoming the maritime logistics hub for ports in Africa.


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