The Nigerian Ports Authority (NPA) has introduced a $1 billion reconstruction plan for the Tincan Island Port Advanced and the excellent rehabilitation of the Apapa, Rivers, Onne, Warri and Calabar Port complexes.
The authority has additionally earmarked for related reconstruction, beneath the brand new ports growth plan, the Badagry Deep Seaport, Snake Island, Burutu and Ondo Deep Seaports.
The administration of NPA disclosed this in a latest doc entitled:” Consolidation of Superior Efficiency on the Nigerian Ports Authority 2023-A Synopsis of the Authority’s Efficiency Enchancment 2022-2023,”
Different initiatives on the cardboard in direction of enhancing port competitiveness are the emplacements of the Port Neighborhood System (PCS) and the Nationwide Single Window.
The NPA administration mentioned it was poised to remodel the Authority’s strategic intent of being the maritime logistics hub for sustainable port companies in Africa from potential to actualities.
NPA mentioned that regardless of international financial headwinds that characterised the yr 2023, the Managing Director, Mohammed Bello Koko, succeeded in leapfrogging Nigeria’s foremost commerce facilitation platform to surpass its sterling efficiency of the yr 2022.
It mentioned that implementing efficiency enchancment measures resulted in unprecedented income era and remittances to the Federation Consolidated Income Fund (CRF), with revenues steadily rising from N361 billion in 2022 to N501 billion as of December 2023.
In line with administration, remittances will enhance from N93.4 billion in 2022 to N131.2 billion by 2023.
The doc additionally captured taxes paid to the Authorities of the Federation, which grew at varied instances within the interval beneath assessment, totalling $77.7 million and N17.6 billion, respectively.
The NPA disclosed that it contributed to the deepening of Nigeria’s commerce stability by selling exports, particularly non-oiI exports, in response to the nationwide necessity of strengthening the Naira.
“Motion of cargo by barge has tremendously enhanced port-hinterland connectivity as evidenced by the meteoric rise in numbers from a complete of 80,244 TEUs in 2022, which by 2023 had grown to 118,046 TEUs.
“The NPA throughout the interval beneath assessment licensed ten (10) Export Processing Terminals to facilitate exports at Nigerian Sea Ports.
“The resultant impact of this initiative was a quantum leap within the numbers of Nigerian export-laden containers from One Hundred and Fifty-Six Thousand, Seven Hundred and Ninety (156,790) Twenty Foot Equal Items (TEUs) in 2022, to Two Hundred and Twenty-Six Thousand, 4 Hundred and Fifty-Six (226,456) TEUs in 2023.”
