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NPA revenue profile rises to N163.5bn in 6 months

The session was organised by the House of Representatives Committee on Finance.

The revenue profile of the Nigerian Ports Authority (NPA) has risen to about N163.5 billion between January and June 2021, which is 8.6% increase when compared with it’s projection of N150.5bn for six months.

The authority’s General Manager of Finance, Emeka Ezugwu, said in Abuja Monday at an interactive session on 2022-2024 Medium Term Expenditure Framework (MTEF) that NPA’s revenue target for 2021 was N301.7 billion.

The session was organised by the House of Representatives Committee on Finance.

Ezugwu told the committee that NPA’s 2021 revenue target was N301.7 billion, noting that as of June 2021 the authority had realised N163.5 billion, which is about 54 percent of its revenue target.

He said NPA generated N284.36billion in 2018, N280.3 billion in 2019 and N303.58 billion in 2020.

Responding to allegations by the an official of the Fiscal Responsibility Commission (FRC), Bello Gulmare, that NPA failed to file its audited accounts for 2019 and 2020 and that it has an outstanding liability of N255 billion to settle with the Federal Government, Ezugwu said, “Our 2019 (accounts) has already been approved by the board, 2020 is ongoing. FRC has not done any reconciliation with the NPA for the past four years.

“The figure he is brandishing does not align with what we have. We have done reconciliation with Revenue Mobilization and Fiscal Allocation Commission. We are also engaging the Accountant General (of the Federation) office right now and we have a letter from them inviting us for reconciliation.”

The Chairman of the House Committee on Finance, James Faleke, said FRC was the body statutory empowered by the constitution to monitor remittances.

 

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