{"id":98396,"date":"2022-08-20T09:56:23","date_gmt":"2022-08-20T08:56:23","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=98396"},"modified":"2022-08-20T09:56:23","modified_gmt":"2022-08-20T08:56:23","slug":"npa-generates-n172-3bn-in-6-months-remits-n78-5bn-to-federation-account","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/npa-generates-n172-3bn-in-6-months-remits-n78-5bn-to-federation-account\/","title":{"rendered":"NPA Generates N172.3bn In 6 Months, Remits N78.5bn To Federation Account"},"content":{"rendered":"<div style=\"text-align: justify;\">Amid the global economic downturn, the Nigerian Ports Authority (NPA), says it generated a whopping sum of N172.3billion in the first six months of 2022, out of which it remitted the sum of N78.496billion to the federation account.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">During the same period under review, the Nigerian ports handled 1992 ships, with a cargo throughput of 38,672,392 metric tonnes. The ports also witnessed 849,175 TEU of container traffic while they handled 132,543 units of vehicles within the same period.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The managing director of the NPA, Mohammed Koko said it was encouraging that such huge revenue was generated by the Authority amid global economic and inflation crises, among other negative factors.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">He further disclosed that the remittances were expressions of the operational performance of the ports.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">These figures were contained in a half-year 2022 operational report released by the authority.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">According to the report, N50,255,925,779.20, representing cash remittances \u2013 the compulsory deduction of 25 percent of the revenue generated and other sundry payments \u2013 for the absolute period of January-June 2022 while the remaining N28,241,041,083.00 relates to the remittance with respect to other periods.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Koko however noted that the NPA had bolstered impressive remittances to the Consolidated Revenue Fund (CRF) of the Federal Government.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cGlobal economic and inflation crises, global reduction in household incomes and purchasing power and scarcity of foreign exchange all of which has negatively affected business environment, affected Government revenue and constrained expenditure.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">&#8220;The development in the port industry cannot be severed from the macro-economic environment with galloping inflation that has grossly reduced the disposable income of the households, the depreciating exchange rates that stifle business environment and the dwindling government revenue that constrains expenditure.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cIn the face of these harsh macro-economic indices, the Nigerian Ports Authority has forged on to deliver port and harbour services to the teeming operators in the export and import businesses across the country.\u201d<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">&#8221; In the 1st half of 2022, a total of 1,992 ships calls were recorded and the aggregate of the Gross Registered tonnage (GRT) of vessels was 60,235,133 tons.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cThe Authority achieved total cargo throughput of 38,672,392 metric tonnes and 849,175 TEUs (twenty-foot equivalent units) of container traffic. Vehicle traffic handled, during the period under review, was 132,543 units.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cAlso, the average turn-around-time (TAT) of vessels, indicating port efficiency, stood at 5.16days. This is an improvement and we are strategising to perform better in the second half of the year.\u201d<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The NPA MD said that it was important to note that the Port remains the gateway of the national economy, and thus represents the barometer by which we measure the pulse of the economy.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cThe Authority remains committed to providing improved services to increase efficiency at the ports that impact on higher revenue generation and economic growth of the nation.\u201d<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">He listed such improved services to increase efficiency at the ports to include: deployment of marine crafts at all ports locations; marking\/laying of buoys at Calabar and Escravos Channel to improve safe navigation; encouraging the use of Eastern Port by way of incentives to importers on port charges; deployment of security patrol boats to increase safety along the Port Quays; and repairs\/ rehabilitation of ports\u2019 access roads to improve cargo evacuation and dwell time.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Others, he said, were encouraging the use of barges for cargo evacuation to reduce traffic gridlock on the roads; licensing of export processing terminals in order to support the Federal Government\u2019s initiative to increase non-oil exports; creating MSS for barge operations in order to improve multi-modal means of cargo movement; and, working on initiatives to improve on staff members\u2019 welfare.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Amid the global economic downturn, the Nigerian Ports Authority (NPA), says it generated a whopping sum of N172.3billion in the first six months of 2022, out of which it remitted&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":95811,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-98396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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