The Nigerian Ports Authority has said that its annual revenue grew to over five hundred billion naira in 2023 from three hundred and sixty-one billion naira in the prior year.
The Managing Director of NPA, Mohammed Bello-Koko, in a statement, attributed the revenue growth to the implementation of performance improvement measures.
Recall that the revenue profile of NPA rose from three hundred and seventeen billion naira in 2020 to three hundred and sixty-one billion naira in 2022, despite its remittances to the Consolidated Revenue Account increasing from eighty billion naira to Ninety one billion naira in the last one year.
It noted that it had “succeeded in leapfrogging Nigeria’s foremost trade facilitation platform to surpass its sterling performance” in 2022.
NPA disclosed that taxes paid to the government of the federation, grew at various times in the period under review, “totaling the sum of seventy-seven point seven million dollars and seventeen point six billion naira respectively.
“The implementation of performance improvement measures resulted in unprecedented revenue generation and remittances to the Consolidated Revenue Fund of the Federation, with revenues steadily growing from N361bn in 2022 to N501bn as of December 2023,” it added.
The post Nigerian Ports Authority Expresses Optimism Over Five Hundred And One Billion Naira Revenue Generated In 2023 first appeared on Royal Times of Nigeria..