Nigeria Port Authory generates N1trn revenue in 4 yrs

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LIANYUNGANG, April 14, 2020-- Photo taken on April 14, 2020 shows containers at the Lianyungang Port in Lianyungang City, east China's Jiangsu Province. China's foreign trade showed signs of stabilizing in March with export and import both beating bearish market expectations, official data showed Tuesday. (Photo by Geng Yuhe/Xinhua via Getty)

By Godwin Oritse

THE Nigerian Ports Authority, NPA, has said that it generated a total revenue of N1.02tn in the space of three years under the leadership of Managing Director, Hadiza Bala-Usman.

This was contained in a tweet posted by the authority via its official Twitter handle.

The agency’s revenue surged in 2017 when it generated a total of N259.99bn, marking about 42 per cent increase compared to 2016, according to the ports authority.

In its 2018 report, the revenue generation hit N282.42bn while 2019 peaked at around N300bn, making it the highest in the authority’s history.

The authority noted that its contribution to the Consolidated Revenue Fund Account had progressively increased since the current management took over in 2016.

In 2014, the NPA contributed N18.5bn to the CRF, compared to 2013 when it contributed N13.1bn.

The authority contributed N23.8bn in 2016, compared to N18bn it contributed to the CRF in 2015. Its contribution to the CRF in 2018 peaked at N33.6bn compared to 2017 when it contributed N30.3bn, according to the statement.

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