Home » MARITIME » NPA Remits Over N89.9 Billion Revenue into CRF in 6 Months

NPA Remits Over N89.9 Billion Revenue into CRF in 6 Months

The Nigeria Ports Authority (NPA) has remitted a cumulative sum of over N89.9 billion into the country’s Consolidated Revenue Fund (CRF) in the last 6 months just as it also remitted the sum of N62.66 billion to the same account for the year 2021 as at October 31, in compliance with the quarterly remittance of its operating surplus to the account and provisions of the Finance Act 2020, documents has shown.

The revenue performance index indicates that despite the impact of Covid-19 pandemic on global trade and supply chain logistics, the NPA raised its Internally Generated Revenue (IGR) between January and September 2021 by 120 percent.

At the current state of increased revenue drive, it is projected that the authority will exceed its 2021 revenue projections and the projected transfer to the CRF for the year 2021 which is expected to be over N80bn, and becomes the highest in the history of the NPA.

A presentation by the NPA’s Acting Managing Director, Mohammed Bello Koko to the House of Representatives Committee on Ports and Harbours showed that as at the end of September 2021, the Authority earned N256.28bn in IGR as against the expected N214.65bn, it approved estimate stood at N271.70bn for the same period, representing a performance of 120% or 95% of its total annual budget for 2021.

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