NPA rakes in N541bn, remits N255bn in first half of 2024 — Outgoing MD Koko

Outgoing Managing Director of the Nigerian Ports Authority, NPA, Mr Mohammed Bello Koko, on Monday disclosed that the agency generated N541 billion in the first half of 2024.
The agency equally remitted N255 billion to the Consolidated Revenue Fund, CRF, within the first six months of the year, Koko further disclosed.
Koko, who made the disclosures in his valedictory remarks while handing over to the new NPA Managing Director, Dr Abubakar Dantsoho at the organisation’s headquarters in Lagos, said the performance of the agency in the first half of 2024 surpassed its year-on-year total revenue generation and remittances in any year.
According to him, the cumulative revenue of the NPA between 2022 and the first half of 2024 was N1.423 trillion.
He also disclosed that he is handing over a new staff clinic and five other completed projects to his successor for commissioning.
Koko added that his administration put in place sustainable reforms, especially a drastic improvements in the Turn-Around-Times, TAT, of vessels and trucks in Apapa and TinCan ports.
Noting that staff salary was increased during his tenure, the outgoing MD urged staff of the agency to cooperate with and redouble their commitment to his successor.
Speaking at the handover ceremony, Koko said, “We recorded an unprecedented growth in revenue generation and remittances to the Consolidated Revenue Fund, CRF, from revenue of N381 billion in 2022 and N501 billion in 2023 to N541 billion in the first half of 2024 and remittances to CRF increasing from N93.4 billion in 2022 to N206 billion in 2023 and to N255 billion in the first half of 2024—surpassing our year-on-year total revenue generation and remittances in any year.
“Unprecedented tax remittances to the Federal Government ranging up to N60 billion in the period of my stewardship. We raised the bar higher.
“Our hope and prayers are for the new management to continue on this trajectory and surpass it. But we were also deliberate on dialogue and driving reforms.”
Noting that NPA achieved all-round port efficiency during his tenure, Koko added: “We hit the ground running with the necessary approvals to get the Lekki Deep Seaport fully operational to retake the lost transit and transshipment cargo.
“Promoted the non-oil export drive of the President by setting up ten (10) Export Processing Terminals, EPTs, mainstreaming it to the NXP and e-call up system to facilitate exports, and the result is evident in the attainment of a foreign trade surplus, as highlighted in the NBS report for Q1 2024.
“Upgraded Data Center, Servers, Storage, and Business Continuity. Established a data recovery and protection unit with an up-to-date data protection audit certification.
“Digitized staff attendance for accountability and improved productivity. Ensured the sustainability and free flow of cargo by clearing the decade-long traffic gridlock menacing the Apapa and Tincan Island port complexes, and its environs.
“Provided aids to navigation such as buoys, fenders, and bollards across all the ports, and also enhanced seaside operations by providing marine crafts, pilot cutters, tugboats, mooring boats, etc to improve port efficiency.
“These led to a reduction in both vessel and truck turn-around times. The vessel TAT went down from an average of 6.5 days to an average of 5 days, while truck TAT went from an average of 10 days to a few hours.”
Highlighting the agency’s attainment of 100 per cent Ease-of-Doing-Business rating by the Presidential Enabling Business Environment Council, PEBEC, during his tenure, Koko said, “We restored service boat management contract with its attendant boost in revenue, concluded the consultancy for the deployment of a Vessel Tracking System in conjunction with NLNG Shipping, secured FEC approval for the expansion of the Snake Island Port and a willing private investment to the tune of $300 million on this project, and also secured FEC approvals for the development of new ports such as ports of Ondo, Badagry, Burutu, and Snake Island expansion project, amongst other proposals that have reached advanced stages of review and approval.”
He also pointed to the consultancy for the development of the 25-Year National Ports Masterplan to guide investment and port expansion plans, adding that the NPA attained 100 per cent Ease-of-Doing-Business rating by the Presidential Enabling Business Environment Council despite having the most number of reforms.
“In addition to the aforementioned, we were also able to conclude with the FMMBE/BPP on the deployment of the Port Community System (awaiting a few processes before seeking FEC approval), and its corollary, the National Single Window, as well as propel the subject matter of port modernization to conclusive stages with the signing of the mandate letters for the reconstruction of TinCan Island and the comprehensive rehabilitation of Apapa, Rivers, Onne, Warri, and Calabar Port complexes, respectively,” he noted.
Noting that six completed projects executed by his administration are ready for commissioning, Koko said, “We have also completed some key projects that are ready for commissioning. These projects are crucial to staff development and improved efficiency. Some of them include the Staff Clinic at Lagos Port Complex; inter-agency building at TinCan Island Port to accommodate agencies in the port in one place to enhance operational efficiency; security mobile scanners at the Lagos Port Complex; administrative buildings of the Tincan, Warri, and Rivers Ports; Maritime Workers Union of Nigeria’s Headquarters; upgraded Revenue Invoicing Management System (RIMS 2.0); and employees e-medical records management.”
Koko appreciated management and staff of the agency for the support accorded him during his sojourn in the establishment.
“Looking back, I would like to summarize this tremendous phase of my life as a learning curve and an abiding history or experience.
“As I bow out today, I feel fulfilled for two reasons. Firstly, by working with all of you here, we have repositioned the Authority for greater operational efficiency and unprecedented revenue generation and remittance to the Consolidated Revenue Fund, CRF, of the Federal Republic of Nigeria.
“Secondly, my sense of fulfillment derives from the fact that we have achieved a lot and have made the Authority far better than we met it, and now handing over to a management team of distinguished professionals with the requisite character, competence, and capacity to sustain and indeed surpass the current performance trajectory.
“As most of us are aware, the Authority under the management team I was privileged to lead was able to position the Authority for improved efficiency, revenue generation, accountability, and adherence to international best practices in port management and operations.”
In the same vein, Koko thanked President Bola Tinubu and former President Muhammadu Buhari for the opportunity to serve as the Managing Director of the Nigerian Ports Authority.
Delivering his inaugural address at the event, the new Managing Director of NPA, Dantsoho, unveiled plans for port rehabilitation and modernization. He also said priority will be given to total automation of NPA processes.
Assuring staff of adequate welfare, he said, “We will continue the digital transformation of the Authority and reinforce the current efforts at deploying the Port Community System, PCS, which we believe is key to our dream of total automation of our processes, thereby eliminating leakages and corruption.”
Assuring that the current efforts towards infrastructural renewal and development will be enhanced, he added, “In particular, we will drive Port Rehabilitation and Modernization. We will pay attention to the logistics that surround the arrival of cargoes along the port corridor, their receipt at the terminals and loading onboard ships in the most efficient way and also cargo evacuation from our ports.”
Other targets outlined by Dantsoho include development of deep sea ports, in order to unlock the full potential of the Nigerian economy, promotion of transparency, accountability and ease of doing business at the ports, enhancing collaboration and communication between sister agencies and promoting stakeholder engagement.
NPA rakes in N541bn, remits N255bn in first half of 2024 — Outgoing MD Koko