NPA raises IGR by 120 %

26 Nov NPA raises IGR by 120 %

The Nigerian Ports Authority (NPA) said it raised Internally Generated Revenue (IGR) between January and September by 120 percent and also reducing its operational expenses by 20 percent.

NPA’s Acting Managing Director Mohammed Bello-Koko said this when he appeared before the Ports and Harbour Committee of the House of Representatives in Abuja. According to him, as at the end of September, the agency had earned N256.28 billion in IGR, surpassing the N214.65 billion earlier set for the same period. This amount represents a performance of 120 percent or 95 percent of its total annual budget for 2021 which stood at N271.70 billion.

“For operating expenses, as at the end of September, actual spending stood at N55.10b as against the budgeted figure of N65.49 billion. This indicates a “savings” of N10.39 billion of the approved budget of N87.32 billion”, Bello-Koko said.

This feat has made stakeholders to commend the leadership of Bello-Koko, calling for his confirmation as substantive managing director.