NPA Revenue

NPA Generates #172. 286 billion, remits #78. 497 billion to CRF in Six months 

ZAINAB JUNAID 

The Nigerian Ports Authority (NPA) has generated revenue of N172,285,626,312.00 from its operations in the first half of 2022 and has simultaneously remitted N78,496,966,862.20 to the Consolidated Revenue Fund (CRF) of the federation within the same period.

These were contained in a half-year 2022 operational report released by the Managing Director of the Authority, Mr. Mohammed Bello Koko.

Koko said: “The Authority generated total revenue of N172,285,626,312.00 and remitted to the Consolidated Revenue Fund (CRF) with the sum of N78,496,966,862.20.

While explaining the breakdown of money remitted to CRF, Koko said: “A breakdown of the figure indicates that N50,255,925,779.20 represents cash remittances, the compulsory deduction of 25% of revenue generated and other sundry payments for the absolute period of January-June 2022.”

While describing the performance of the authority as encouraging amidst global economic and inflation crises, NPA Chief noted that the remaining sum of N28,241,041,083.00 relates to the remittance concerning other periods.” 

According to him: “Global economic and inflation crises, global reduction in household incomes and purchasing power and scarcity of foreign exchange all of which has negatively affected business environment, affected government revenue and constrained expenditure.

The development in the port industry cannot be severed from the macro-economic environment with galloping inflation that has grossly reduced the disposable income of the households, the depreciating exchange rates that stifle business environment and the dwindling government revenue that constrains expenditure.

“In the face of these harsh macro-economic indices, the Nigerian Ports Authority has forged on to deliver port and harbour services to the teeming operators in the export and import businesses across the country.”

The NPA boss explained that the remittances indicate the operational performance of the ports.

According to him: “In the 1st half of 2022, a total of 1,992 ship calls were recorded and the aggregate of the Gross Registered tonnage (GRT) of vessels was 60,235,133 tons.

“The Authority achieved total cargo throughput of 38,672,392 metric tonnes and 849,175 TEUs (twenty-foot equivalent units) of container traffic. Vehicle traffic handled, during the period under review, was 132,543 units.

“Also, the average turn-around-time (TAT) of vessels, indicating port efficiency, stood at 5.16days. This is an improvement and we are strategising to perform better in the second half of the year.”

Koko while noting that port represents the yardstick

to measure the pulse of the economy added that it remains the gateway of the national economy.

“The Authority remains committed to providing improved services to increase efficiency at the ports that impact on higher revenue generation and economic growth of the nation.”

IATA Disappointed

IATA Blames Nigeria as Foreign Airlines' trapped funds hit $464 million 

ZAINAB JUNAID

The International Air Transportation Association (IATA) has expressed dissatisfaction over Nigeria’s position towards the repatriation of foreign Airlines trapped funds which has increased from $450 million in May to $464 million in July 2022. 

IATA declared this, few hours after Emirates Airlines announced the suspension of all its Nigerian routes starting from September 1, 2022, as the carrier said it could not continue flights to Nigeria, lamenting its trapped $85 million.

IATA’s Regional Vice-President for Africa and the Middle East, Kamil Alawahdi in a statement on Thursday expressed disappointment with Nigeria as the amount of airline money blocked from repatriation by the Nigerian government grew to $464 million in July.

His words, “IATA is disappointed that the amount of airline money blocked from repatriation by the Nigerian government grew to $464 million in July.

This is airline money and its repatriation is protected by international agreements in which Nigeria participates. IATA’s many warnings that failure to restore timely repatriation will hurt Nigeria with reduced air connectivity are proving true with the withdrawal of Emirates from the market.

“Airlines cannot be expected to fly if they cannot realize the revenue from ticket sales. Loss of air connectivity harms the local economy, hurts investor confidence, and impacts jobs and people’s livelihoods. It’s time for the Government of Nigeria to prioritize the release of airline funds before more damage is done.”

SAHCO

 SAHCO Reaffirms Continuous Support for NDLEA on War Against Drugs 

ZAINAB JUNAID 

Skyway Aviation Handling Company PLC (SAHCO) has declared its continuous support to Nigeria’s fight against peddling of controlled substances.

The Managing Director of the company, Basil Agboarumi made this declaration recently adding that SAHCO can boast of it’s well-trained staff that are well equipped to know what to look out for when it comes to rules and guidelines for accepting Cargo and have been trained to comply with Government’s agencies like the National Drug Law Enforcement Agency (NDLEA) assigned to SAHCO’s Import and Export warehouses.

Agboarumi said SAHCO, which is a major gateway to Import and Export in Nigeria has one of the best warehouses in West Africa and these warehouses are Customs bonded.

The warehouses according to him, were built with the latest technology and are constructed with the customers’ best interest at heart and also for the purpose of maintaining clients’ trust by ensuring that clients of questionable businesses are not allowed to use SAHCO’s warehouses as gateways for their nefarious activities.

“Our company has a campaign titled “See Something, Say Something, Do Something” where all staff are trained to always call attention to unscrupulous activities and crooked acts. 

“We have a long-time commitment to support Government’s agencies that are stationed at every point where SAHCO conducts businesses by giving them unhindered access to every nook and crannies of both Import and Export Warehouses, providing the necessary scanning machines and other screening technologies to support NDLEA and other Government agencies operations,” he said.