Nigerian Ports Authority declares N300bn revenue in 2017

The management of Nigerian Ports Authority (NPA) has declared the sum of N299.56 billion as revenue generated in the 2017 fiscal year. ​

This is contained in a statement on Tuesday by ​General Manager, Corporate and Strategic Communications, Alhaji Abdullahi Goje​. ​ ​

The​ 2017 revenues exceeded the 2016 figure of N162.20 billion by 84.65 per cent, the highest generated by the NPA in the past five years.

The NPA had in 2013 generated the sum of N154.50 billion.​ It ​increased to N159.30 billion and N180.50 billion in 2014 and 2015 respectively.

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The authority’s revenue​, ​however​, ​dropped to N162.20 billion in 2016. ​NPA explained that the 2017 figure is made up of revenues from “traffic,” “harbours,” “administrative” and other sources in the sum of N136.04 billion, N66.80 billion, N86.06 billion and N10.75 billion respectively.

The statement quoted​ ​Managing Director of the NPA Hadiza Bala Usman, as assuring relevant stakeholders in the maritime sub sector and beyond of the determination of the management of the NPA at providing an enabling environment for investors to do business within the Ports across the country in order to tap the huge economic potentials available in the sector for the growth of the economy. According to her, renewed efforts are being encouraged by way of partnership, collaboration and improved synergy amongst key players in the industry towards ensuring that the management thrusts are realised within the nearest possible time.

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Meanwhile, Usman has stated that the agency’s recent actions against Intels Nigeria Limited, co-owned by former Vice President Atiku Abubakar is not political.

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NPA last month handed a two-week ultimatum to the company to remit an outstanding $48 million that ought to have been paid into the agency’s Treasury Single Account (TSA) in 2017. Intels, a logistics and facilities services provider in the maritime and oil and gas sectors, was co-founded by Gabriele Volpi, an Italian national and Atiku Abubakar. Atiku has since sold down most of his interest in the company to the former Lagos State governor and APC national leader Bola Tinubu.

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