NPA Remittances To Federation Account Rises To N91bn
According to the Nigerian Ports Authority (NPA), remittances increased from N80 billion in 2020 to N91 billion in 2022.
According to information obtained, the rise in remittances coincides with declining revenue collection by several government entities and low importation into the nation.
Moreover, the authority’s revenue increases from N317 billion in 2020 to N361 billion in 2022, helping the federal government finance the provision of social amenities. I am the nation.
According to a document obtained by LEADERSHIP, “the NPA supported the national economy through unprecedented revenue generation and remittances to the CRF of the federation, with revenues steadily growing from N317 billion in 2020 to N361 billion in 2022 and remittances progressively soar from N80 billion in 2020 to N91 billion by financial year end 2022.
“The NPA developed new businesses and associated employment prospects, such as the barge operations services, which in addition to relieving traffic congestion now generates N2 billion year from both direct investment and related externalities. To enhance the number of truck parks that can serve the ports in Lagos, more truck parks will be granted licenses.
The letter also stated that the licensing of 10 Export Processing Terminals (EPTs) to support the smooth export of cargo out of the country’s seaports was approved by the NPA administration in order to improve the convenience of doing business at the ports.
“The licensing of ten export processing terminals is to create a one-stop shop for export where quality control, cargo assessment by all governmental authorities, and the issue of good-to-ship clearance will be secured. Due to the E-Call Up System’s successful implementation, this has resulted in a significant decrease in truck turnaround time, it noted.
Additionally, the NPA collaborated with the International Maritime Organization (IMO) on the creation of the Port Community System, which automates and digitizes port operations.
In accordance with the IMO instrument on the automation and digitalization of port processes, “the current management has engaged the IMO on the construction of the Port Community System.”
Additionally, it stressed that a consulting contract would be awarded for the deployment of the Vessel Traffic Service (VTS), a maritime safety measure that is outfitted with Domain Awareness Capability to help us guide and inform ships about their safety as they approach our ports in accordance with the Safety of Life at Sea (SOLAS) conventions.
