NPA Generates N172.3bn In 6 Months, Remits N78.5bn To Federation Account

Amid the global economic downturn, the Nigerian Ports Authority (NPA), on Friday, said it generated a whopping sum of N172.3 billion in the first six months of 2022, out of which it remitted the sum of N78.496 billion to the Federation Account.

During the period under review, the Nigerian Ports handled 1,992 ships, with a cargo throughput of 38,672,392 metric tonnes. The ports also witnessed 849,175 TEU of container traffic while they handled 132,543 units of vehicles within the same period.

The managing director of the NPA, Mohammed Koko, said it was encouraging that such huge revenue was generated by the Authority amid global economic and inflation crises, among other negative factors.

He further disclosed that the remittances were expressions of the operational performance of the ports.

The figures were contained in a half-year 2022 operational report released by the Authority.

According to the report, N50,255,925,779.20, representing cash remittances – the compulsory deduction of 25 per cent of the revenue generated and other sundry payments – for the absolute period of January-June 2022 while the remaining N28,241,041,083.00 relates to the remittance with respect to other periods.

Koko, however, noted that the NPA had bolstered impressive remittances to the Consolidated Revenue Fund (CRF) of the Federal Government.

“Global economic and inflation crises, global reduction in household incomes and purchasing power and scarcity of foreign exchange all of which have negatively affected business environment, affected Government revenue and constrained expenditure.

“The development in the port industry cannot be severed from the macro-economic environment with galloping inflation that has grossly reduced the disposable income of the households, the depreciating exchange rates that stifle business environment and the dwindling government revenue that constrains expenditure.

“In the face of these harsh macro-economic indices, the Nigerian Ports Authority has forged on to deliver port and harbour services to the teeming operators in the export and import businesses across the country.

“In the 1st half of 2022, a total of 1,992 ships calls were recorded and the aggregate of the Gross Registered tonnage (GRT) of vessels was 60,235,133 tons.

“The Authority achieved total cargo throughput of 38,672,392 metric tonnes and 849,175 TEUs (twenty-foot equivalent units) of container traffic. Vehicle traffic handled, during the period under review, was 132,543 units.

“Also, the average turn-around-time (TAT) of vessels, indicating port efficiency, stood at 5.16days. This is an improvement and we are strategising to perform better in the second half of the year,” he said.

The NPA MD said that it was important to note that the Port remains the gateway of the national economy, and thus represents the barometer by which the pulse of the economy is measured.

“The Authority remains committed to providing improved services to increase efficiency at the ports that impact on higher revenue generation and economic growth of the nation,” Koko added.

He listed such improved services to increased efficiency at the Ports to include: deployment of marine crafts at all ports locations; marking/laying of buoys at Calabar and Escravos Channel to improve safe navigation; encouraging the use of Eastern Port by way of incentives to importers on port charges; deployment of security patrol boats to increase safety along the Port Quays; and repairs/ rehabilitation of ports’ access roads to improve cargo evacuation and dwell time.

Others, he said, were encouraging the use of barges for cargo evacuation to reduce traffic gridlock on the roads; licensing of export processing terminals in order to support the Federal Government’s initiative to increase non-oil exports; creating MSS for barge operations in order to improve multi-modal means of cargo movement, and working on initiatives to improve on staff members’ welfare.