'Nigeria Ports Authority Generated 300 Billion Naira In 2017'
Although it pales in comparison to Nigeria Customs Service’s 1 trillion-naira revenue in 2017, the Nigeria Ports Authority also pulled approximately hefty 300 billion naira in for the fiscal year 2017.
The NPA specifically declared a total revenue of 299.56 billion naira for the 2017 fiscal year.
The 2017 revenue exceeded the previous year’s meagre 162.20 billion by 84.65% and was the highest generated by the agency in the past five years.
According to a statement by the General Manager, Corporate and Strategic Communications, NPA, Mr. Abdullahi Goje, which gave a breakdown of the revenue generation in the past five years.
It showed that the agency generated the sum of 154.50 billion-naira in 2013. This increased to 159.30 billion naira and 180.50 billion naira in 2014 and 2015, respectively. The agency’s revenue, however, dropped to 162.20 billion in 2016.
The statement noted that the 2017 figure was made up of revenues from traffic, harbours, administrative and other sources in the sums of 136.04 billion, 66.80 billion naira, 86.06 billion naira and 10.75 billion naira, respectively.
Meanwhile Managing Director of NPA, Hadiza Usman had expressed concerns about the condition of the port access roads and its impact on revenue generation for government, adding that more revenue would have been generated if the roads were not so bad.
Also Watch: How Start Ups Can Break Into The Nigerian Market