The Nigeria Port Authority (NPA) has transferred 89.9 billion naira to the Federal Government’s Comprehensive Income Fund (CRF).
The amount remitted does not include the 256.28 billion naira realized between January and September 2021.
The Comprehensive Income Fund or Comprehensive Fund is the main bank account of the government.
Acting Managing Director Mohammed Bello Koko stated in a document submitted to the House of Representatives Ports and Ports Committee that this figure was not in line with the expected 214.65 billion naira during the same period.
Koko revealed that the authorities have remitted 89.9 billion naira to CRF, and the authorities were able to reduce its operating expenses by 20% during the review period.
NPA MD stated that despite the impact of COVID-19 on trade, the efforts made so far.
“In terms of operating expenses, as of the end of September 2021, the actual expenditure was 55.1 billion Norwegian rupiah, while the budget figure was 65.49 billion Norwegian rupiah, including employee benefits, pension costs, tugboat services, supplies, repairs and maintenance, and other administrative expenses This represents a “saving” of 10.39 billion naira, or 85% of the approved budget of 87.32 billion naira.
He also stated that as of October 31, 2021, NPA has remitted 62.66 billion naira to CRF this year, and has remitted 89.9 billion naira to CRF in the past six months.
“With the current increase in revenue, the Authority is expected to exceed its revenue forecast for 2021 and the projected transfer to CRF in 2021, which is expected to exceed 80 billion naira, which will be the highest in history. The authority,” he said .