The Nigerian Ports Authority (NPA) generated total revenue of N191.43 billion from its operations in the first half of 2023 out of which it remitted N55.71 billion into the Federal Government’s Consolidated Revenue Fund (CRF).
NPA Managing Director, Mohammed Bello Koko, disclosed this in a report made available to SHIPS & PORTS.
Bello Koko said that “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 CRF.
“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 confidence to project a revenue growth of over N500 billion with concomitant 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,” he said.
Koko said NPA has completed operations on a total number of 1,851) vessels for the first half of 2023 with a combined 57.87 million GRT. Cargo throughput for the period under review stood at 33,895,784 metric tonnes, while container traffic was 707,985 TEU. The average turn-around-time of vessels during the period stood at 5.16days.
He said NPA remains “unwavering” in its resolve to continuously improve on service excellence, block revenue leakages, curb waste and tighten revenue collection mechanisms “in a bid to surpass stakeholders’ expectations and support the national economy”.
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