By Innocent Orok
The Federal lawmakers have passed a vote of confidence on Management of Nigerian Ports Authority (NPA), saying it is capable of maximizing its many revenue sources to generate more revenue for Federal Government.
The Nigerian Ports Authority (NPA) revenue in 2024, both chambers of the National Assembly have rallied behind Dr Abubakar Dantsoho-led Management of the Ports Authority, even as the lawmakers expressed confidence that the NPA’s impressive performance could catalyze Nigeria’s economic recovery.
With the able leadership of the Minister of Marine and Blue Economy, Adegboyega Oyetola, the NPA revenue collection has increased tremendously, hence the target of N1.75 trillion for 2025.
Roamrepporters online gathered that the NPA, Managing Director, Dr Abubakar Dantsoho, during his recent presentation of the agency’s revenue performance to the National Assembly Joint Committee on Finance, had disclosed that the Ports Authority generated N758.26 billion between January and November 2024, representing an increase of 33.9 revenue per cent when compared to the 2023 revenue figure.
For 2024, the NPA was expected to remit N538.46 billion to the Federal Revenue Account (FRA), topping the list of government agencies expected to remit various sums of money to the government. But the agency exceeded this revenue target by 33.9 per cent.The amount it generated in 11 months in 2024 surpassed its revenue profile in 2023 by N257.3 billion.
The NPA’s revenue profile has grown steadily from N361 billion in 2022 to N501 billion in December 2023, and N758.26 billion in 2024.
Arising from this, the NPA has projected to generate N997 billion revenue in 2025, but the lawmakers jerked the figure to N1.75 trillion.
The Joint Committee chaired by Senator Sani Musa and Hon. James Faleke, explained that the adjustment reflects the committee’s confidence in the Authority’s capacity to harness its 56 revenue streams more effectively.
“The national assembly has been scrutinizing Nigeria’s key revenue-generating agencies in a bid to maximise government income amidst the prevailing economic hardship.”
The NPA management appears unfazed by the high revenue target set for the agency for the year.
With the Minister’s support, NPA MD has at different fora reiterated his determination to reposition NPA and Nigerian seaports for greater efficiency in line with the renewed hope agenda of President Bola Ahmed Tinubu.
He has made visible impact on Nigeria’s port industry, while pursuing policy actions and schemes that are aimed at improving overall efficiency of Nigerian ports, and making them the preferred ports of call for goods destined for the West and Central African sub region.
These policy actions coupled with the NPA boss’s relentless drive for more investments in Nigerian ports will, no doubt, bring about steep increase in revenue, thereby validating the confidence of the national assembly.
