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Business News of Tuesday, 13 October 2020

Source: Economic Confidential

In four years, NPA generates N1trn revenue

Hadiza Bala-Usman,  Managing Director, NPA Hadiza Bala-Usman, Managing Director, NPA

The Nigerian Ports Authority (NPA) has generated a revenue of N1.02tn in the space of three years under the tenure of, Hadiza Bala-Usman.

This is according to a tweet posted by the authority via its official Twitter handle.

In 2016, the authority’s revenue went up to N182.42bn against the N173.447bn generated in 2015.

The positive revenue surge continued in 2017 when the authority generated a total of N259.99bn, marking about 42 per cent increase compared to 2016, according to the ports authority.

Its 2018, the revenue generation hit N282.42bn while 2019 peaked at around N300bn, making it the highest in the authority’s history.

The authority noted that its contribution to the Consolidated Revenue Fund Account had progressively increased since the current management took over in 2016.

In 2014, the NPA contributed N18.5bn to the CRF, compared to 2013 when it contributed N13.1bn.

The authority contributed N23.8bn in 2016, compared to N18bn it contributed to the CRF in 2015.

Its contribution to the CRF in 2018 peaked at N33.6bn compared to 2017 when it contributed N30.3bn, according to the statement.

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