The Managing Director of Nigerian Ports Authority (NPA), Mohammed Bello-Koko has commended the economic policies of President Bola Tinubu which attracted global applause and transformation of the maritime industry.
Bello-Koko made the remark during an unscheduled visit to the Lagos ports access roads on Wednesday.
“The decade-long traffic gridlock was recently cleared by the NPA,’’ the managing director said in a statement made available to newsmen.
He also applauded the leadership style of the Minister of Marine and Blue Economy, Adegboyega Oyetola.
“As part of President Tinubu’s Renewed Hope Agenda, the sanity that has since returned to the ports access roads will be sustained to promote ease of doing business and drive exports to enhance Nigeria’s balance of trade,” Bello-Koko said.
He said that in spite of the global economic headwinds that characterised the year 2023, the Nigerian Ports Authority, succeeded in maintaining the momentum to surpass its performance of the year 2022.
According to him, the implementation of continuous performance improvement measures resulted in unprecedented revenue generation and remittances to the Consolidated Revenue Fund (CRF) of the Federation.
“This revenue is steadily growing from N361 billion in 2022 to N501 billion as at December 2023; and remittances increasing from N93.4 billion in 2022 to N131.2 billion by year end 2023,” Bello-Koko said.
He noted that taxes paid to the Federal Government also grew at various times in the period under review up to $77.7 million and N17.6 billion respectively.
He said that the strategic forecast was to be actualised in 2024.
“The forecast such as the $1 billion worth reconstruction of Tin Can Island Port Complex and the comprehensive rehabilitation of Apapa, Rivers, Onne Ports, amongst others.
“It is evident that the Nigerian Ports Authority has been positioned to not only create but sustain superior performance necessary to maximise the comparative advantages that Nigeria’s maritime endowments confer, ” he said.
