NPA remitted N501bn to FG, moved 118,046 TEUs by barges in 2023

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The Nigerian Ports Authority (NPA) said it remitted the sum of N501 billion into the Federal Government’s Consolidated Revenue Fund (CRF) account in 2023.

In a report released on Wednesday, NPA also disclosed that it enabled the movement of 118,046 TEUs of containers from the ports by barges during the same period.

It said it implemented performance improvement measures that resulted in “unprecedented revenue generation and remittances” into the CRF, “with revenues steadily growing from N361 billion in 2022 to N501 billion as of December 2023”.

The document also stated that $77.7 million and N17.6 billion were paid as taxes to the Federal Government, “which grew at various times in the period under review”.

The agency said it contributed to deepening Nigeria’s balance of trade by promoting exports, especially non-oil exports, “in response to the national necessity of strengthening the naira”.

“Movement of cargo by barge has greatly enhanced port-hinterland connectivity as evidenced by the meteoric rise in numbers from a total of 80,244 TEUs in 2022, which by 2023 had grown to 118,046 TEUs.

“The NPA during the period under review licensed ten (10) Export Processing Terminals to facilitate exports at Nigerian seaports.

“The resultant effect of this initiative was a quantum leap in the numbers of Nigerian export-laden containers from 156,790 TEUs in 2022 to 226,456 TEUs in 2023.

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