Melvin Onwubuke
The Nigerian Ports Authority has said that its annual revenue grew to N501bn in 2023 from N361bn in the prior year.
In a statement on Thursday, NPA’s Managing Director Mohammed Bello-Koko said that the revenue increase was due to the implementation of performance-enhancing measures.
It noted that it had successfully exceeded its sterling performance in 2022 by overtaking Nigeria’s largest trade facilitation platform.
He said, “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.”
According to the NPA, remittances increased from N93.4 billion in 2022 to N131.2 billion in 2023 and tax paid to the Government of the Federation has grown at different times during the period under review amounting to $77.7 million and 17.6 billion respectively
