LAGOS (Sundiata Post) – The Managing Director and Chief Executive Officer of the Nigerian Ports Authority (NPA), Mr Mohammed Bello-Koko, has lauded the economic policies of President Bola Tinubu, which have garnered international acclaim, for their pivotal role in transforming the maritime industry and significantly boosting revenue generation by the NPA.
During an unplanned visit to the Lagos ports access roads, which have recently been cleared of a decade-long traffic gridlock by the NPA, Bello-Koko praised the leadership and proactive approach of the Minister of Marine and Blue Economy, Adegboyega Oyetola, in advancing the industry. He emphasized that, as part of President Tinubu’s Renewed Hope Agenda, the order restored to the ports’ access roads will be maintained to enhance ease of business operations and promote exports, thereby improving Nigeria’s balance of trade.
Bello-Koko highlighted that, despite the global economic challenges of 2023, the Nigerian Ports Authority managed to surpass its impressive performance from 2022. He noted, “The implementation of continuous performance improvement measures led to unprecedented revenue generation and remittances to the Consolidated Revenue Fund (CRF) of the Federation, with revenues rising from N361 billion in 2022 to N501 billion by December 2023, and remittances increasing from N93.4 billion in 2022 to N131.2 billion by the end of 2023.”
Furthermore, Bello-Koko, who was recently appointed by the President to the implementation committee of the National Single Window Project, reported that taxes paid to the Government of the Federation grew significantly, amounting to $77.7 million and N17.6 billion respectively during the review period.
Looking ahead, he outlined strategic initiatives set for realization in 2024, including the $1 billion reconstruction of the Tincan Island Port Complex and the comprehensive rehabilitation of the Apapa, Rivers, Onne, Warri, and Calabar Port Complexes. Additionally, new port developments such as the Badagry Deep Seaport, Snake Island, Burutu, and Ondo Deep Seaports, the Port Community System (PCS), and the National Single Window are being aggressively implemented to enhance port competitiveness. These initiatives underscore that the Nigerian Ports Authority is well-positioned to not only achieve but sustain superior performance, leveraging Nigeria’s maritime advantages for maximum benefit.
