Mohammed Bello-Koko, the Managing Director and Chief Executive Officer of the Nigerian Ports Authority (NPA), has credited President Bola Ahmed Tinubu’s economic policies for the significant transformation of the maritime industry and the enhancement of revenue generation by the Authority.
During an unscheduled visit to the Lagos ports’ access roads, which recently saw the clearing of a decade-long traffic gridlock, Bello-Koko also praised the Minister of Marine and Blue Economy, Adegboyega Oyetola, for his leadership and hands-on approach in driving the industry forward.
As part of President Tinubu’s Renewed Hope Agenda, Bello-Koko emphasized that the order restored to the ports’ access roads would be maintained to facilitate ease of doing business and boost exports, thereby improving Nigeria’s balance of trade.
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Despite global economic challenges in 2023, the Nigerian Ports Authority succeeded in surpassing its impressive performance from 2022. Bello-Koko highlighted that the implementation of continuous performance improvement measures led to unprecedented revenue generation and remittances to the Consolidated Revenue Fund (CRF) of the Federation. Revenue rose from N361 billion in 2022 to N501 billion by December 2023, while remittances increased from N93.4 billion in 2022 to N131.2 billion at the end of 2023.
“The taxes paid to the Government of the Federation also grew significantly during the review period, amounting to $77.7 million and N17.6 billion respectively,” Bello-Koko added. These achievements contribute to the strategic forecasts set for 2024, including the $1 billion reconstruction of the Tincan Island Port Complex and comprehensive rehabilitation projects for the Apapa, Rivers, Onne, Warri, and Calabar Port Complexes, alongside new port developments.
Bello-Koko’s remarks underscore the positive impact of President Tinubu’s policies on Nigeria’s maritime sector, reflecting a period of robust growth and infrastructural advancement.
