The Nigerian Ports Authority (NPA) has announced an extraordinary financial achievement, revealing a significant surge in revenue from N361 billion in 2022 to an impressive N501 billion by December 2023.
The NPA also disclosed a remarkable increase in remittances to the Consolidated Revenue Fund (CRF), soaring from N93.4 billion in 2022 to N131.2 billion by the end of 2023.
a comprehensive document titled “Consolidation of Superior Performance at the Nigerian Ports Authority 2023: A Synopsis of the Authority’s Performance Improvement 2022-2023,” the NPA outlined its ambitious plans for the future.
These include a $1 billion reconstruction initiative for the Tincan Island Port Complex, coupled with comprehensive rehabilitation projects for the Apapa, Rivers, Onne, Warri, and Calabar port complexes.
Additionally, the Badagry Deep Seaport, Snake Island, Burutu, and Ondo Deep Seaports are earmarked for similar reconstruction under the new port development plan.
To enhance port competitiveness, the NPA is implementing key initiatives such as the Port Community System (PCS) and the National Single Window.
The Managing Director, Mohammed Bello Kokos, successfully navigated the challenges of 2023’s global economic headwinds, surpassing the stellar performance of the preceding year.
The document further highlighted the NPA’s contribution to Nigeria’s balance of trade, particularly through the promotion of non-oil exports. In response to the imperative of strengthening the naira, the NPA facilitated the movement of cargo by barge, reducing pressure on roads and resulting in a substantial N2 billion annual generation business.
The NPA’s commitment to facilitating exports led to the licencing of 10 export processing terminals, streamlining export processes, and eliminating bureaucratic delays. This initiative resulted in a remarkable increase in Nigerian export-laden containers, from 156,790 Twenty-Feet Equivalent Units (TEUs) in 2022 to 226,456 TEUs in 2023.
Additionally, strategic dredging, buoy installation, and improved security at port channels led to a growth in the number of ship calls from 1,997 in 2022 to 2,179 vessels by the end of 2023. The Lekki Deep Seaport, Nigeria’s first fully automated port, processed 6,076 TEUs of transshipment cargo, showcasing the NPA’s readiness to cater to the maritime needs of landlocked neighbouring countries.
To maximise economies of scale at the Lekki Deep Seaport, the NPA acquired two units of Azimuth Stern Drive (ASD) 8213 model 80-tonne Bollard Pull Tugboats in 2023, allowing for the berthing of large vessels of 300 metres LOA and above.
In an effort to diversify revenue streams, the NPA initiated public-private partnerships for port-independent power production, bunkering stations, fallow land for logistics, fresh water provision, and ship repairs and maintenance.
The implementation of the Revenue Invoice Management System (RIMs) 2.0 further solidifies the NPA’s commitment to financial efficiency.
Collaborating with NLNG Ship Management Limited, the NPA deployed the Vessel Traffic Service (VTS) to enhance domain awareness for heightened security and response to emerging threats and vulnerabilities across its locations.
