The Managing Director of the Nigerian Ports Authority, Mohammed Bello-Koko, said that President Bola Tinubu’s economic policies have received global praise.
In a statement on Wednesday, Bello-Koko, during an unscheduled visit to the Lagos Ports Access Roads, whose decade-long traffic gridlock was recently cleared by the NPA, credited these policies for transforming the maritime industry and significantly boosting NPA’s revenue.
Bello-Koko credited President Tinubu’s economic policies for transforming the maritime industry and boosting NPA’s revenue.
He praised Minister Adegboyega Oyetola’s leadership and noted that the improved conditions on Lagos Ports Access Roads would promote business and exports.
Despite global economic challenges in 2023, the NPA surpassed its previous year’s performance.
“The implementation of continuous performance improvement measures resulted in unprecedented revenue generation and remittances to the Consolidated Revenue Fund (CRF) of the Federation, with revenues steadily growing from N361bn in 2022 to N501 billion as of December 2023, and remittances increasing from N93.4bn in 2022 to N131.2bn by year-end 2023,” Bello-Koko explained.
The NPA helmsman added that taxes paid to the government also grew at various times in the period under review up to $77.7m and N17.6bn.
“The foregoing added to strategic forecasts set to be actualised in 2024 such as the $1bn worth reconstruction of Tincan Island Port Complex and the comprehensive rehabilitation of Apapa, Rivers, Onne, Warri and Calabar Port Complexes,” Bello-Koko concluded.
Get instant and latest news updates via Our WhatsApp Community or Google News online channel.
