The Nigerian Ports Authority has said that its annual revenue grew to N501bn in 2023 from N361bn in the prior year.
The Managing Director of NPA, Mohammed Bello-Koko, in a statement on Thursday, attributed the revenue growth to the implementation of performance improvement measures.
Recall that the revenue profile of NPA rose from N317bn in 2020 to N361bn in 2022, despite its remittances to the Consolidated Revenue Account increasing from N80bn to N91bn in the last one year.
It noted that it had “succeeded in leapfrogging Nigeria’s foremost trade facilitation platform to surpass its sterling performance” in 2022.
“The implementation of performance improvement measures resulted in unprecedented revenue generation and remittances to the Consolidated Revenue Fund of the Federation, with revenues steadily growing from N361bn in 2022 to N501bn as of December 2023,” it added.
NPA disclosed that remittances rose from N93.4bn in 2022 to N131.2bn in 2023, adding that taxes paid to the government of the federation, grew at various times in the period under review, “totalling the sum of $77.7m and N17.6bn respectively”.
