NPA Remittances To Federation Account Rises To N91bn

The Nigerian Ports Authority (NPA), on Thursday, said, remittances of the authority has risen from N80 billion in 2020 to N91 billion in 2022.

It was gathered that the increase in remittance is coming amidst low Importation into the country and dwindling revenue generation by some agencies of government.

The authority’s revenue also rises from N317 billion in 2020 to N361billion in 2022, thereby, supporting the federal government in providing social amenities I’m the country

A document sighted by LEADERSHIP, reads; “the NPA supported the national economy through unprecedented revenue generation and remittances to CRF of the federation with revenues steadily growing from N317 billion in 2020 to N361billion in 2022 and remittances progressively soaring from N80 billion in 2020 to N91Billion by financial year end 2022.

RELATED

Profitable Consultancy Business Ideas

4 hours ago

Experts Back CBN’s Plan To Revive eNaira, Urge Better Implementation

4 hours ago

“The NPA created new businesses and attendant job opportunities such as the barge operations services which apart from reducing pressure on the roads has grown into a N2 billion annual generation business both from direct investment and accompanying externalities. Licensing of additional truck parks to increase capacity of truck parks servicing the Lagos Ports.”

The document also revealed that the NPA management, in other to improve ease of doing business at the ports, approved the licensing of 10 Export Processing Terminals (EPTs) to facilitate seamless export cargo out of the nation’s seaports.

“Licensing of 10 Export Processing Terminals to facilitate exports at Nigerian Sea Ports is to provide a one-stop shop for export where quality control, cargo assessment by all government agencies and issuance of good-to-ship clearance will be obtained. This has led to a significant reduction in truck turn-around time due to successful implementation of the E-Call Up System,” it pointed out.

LEADERSHIP further gathered that the enforcement of the Minimum Safety Standards on trucks accessing the ports by the current management of the NPA has led to 65% reduction in number of accidents recorded at the port corridor.

The document also showed that the NPA has ensured 65 percent reduction in numbers of truck accidents in the country through the introduction of minimum safety standard on trucks.

“Enforcement of Minimum Safety Standards on trucks which stipulates that all trucks accessing the Ports are inspected, certified and issued stickers to assure safety, 65% reduction in number of accidents recorded, arising from improved standards of trucks operating within the Port premises, “the document reads.

The NPA also engaged the International Maritime Organization (IMO), on the development of Port Community System on the automation and digitalization of the port processes.

“The current management has engaged with the IMO on development of Port Community System pursuant to the IMO instrument on automation and digitalization of port processes.”

Also, award of consultancy for the deployment of Vessel Traffic Service (VTS); a maritime safety measure that equips with Domain Awareness Capability to enable us guide and provide safety information to vessels within our channels and ports approaches in line with the Safety of Life at Sea (SOLAS) conventions,” it stressed.