NPA’s 33.9 per cent Revenue Upsurge Tickles National Assembly
NPA’s 33.9 per cent Revenue Upsurge Tickles National Assembly
By Jerry Aguigbo
With growing confidence in the Management of the Nigerian Ports Authority, (NPA) as led by Dr Abubakar Dantsoho,
the national assembly have unanimously reposed it’s confidence in the Nigerian Ports Authority (NPA) as members enthused that the NPA is capable of helping to get the ailing Nigeria economy out of the woods, with its recent soaring revenue profile.
This renewed enthusiasm is a fallout of the agency’s impressive revenue performance in 2024, having posted a 33.9 per cent rise in revenue as at November 2024, as well as the purposeful actions being taking by the agency’s present administration to reposition NPA and Nigerian ports for improved performance and revenue generation.
Having reposed their confidence in the ability and integrity of the Agency, to further explore other sources of revenue generations to boost its remittance to the coffers of the federal Government lawmakers are confident that what the present management at NPA has brought to the table is just a tip of the iceberg, in terms of revenue generation.
The NPA Managing Director, Dr Abubakar Dantsoho, while presenting the agency’s revenue performance, had told the National Assembly Joint Committee on Finance recently that the agency generated N758.26 billion between January and November 2024, showing a rise by 33.9 per cent when compared to the figure it generated the previous year, 2023.
For 2024, the agency 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 agency projected N997 billion revenue for 2025, but the lawmakers jerked up 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 maximize government income amidst the prevailing economic hardship.
The NPA management it appears , is not losing sleep by the high revenue target set for the agency for the year.
Remarkably, the Nigerian Ports Authority managing director, Dr Abubakar Dantsoho, has severally reiterated his commitment to reposition NPA and Nigerian seaports for greater efficiency in line with the renewed hope agenda of President Bola Ahmed Tinubu.
The NPA MD 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.
The Ministry of Marine and Blue Economy ably supervised by Hon. Adegboyega Oyetola was also praised for its strict supervision of agencies under its watch with the introduction of performance index which has ensured that agencies are put on their toes, pushing them to churn out such deft performances as seen at the NPA.
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