NPA to earn N157bn in 2012, gets budget approval
Friday, 11 May 2012 | 00:00
Nigerian Ports Authority (NPA) is to earn N157 billion for the year 2012 following improved port operations and increased cargo thorough.- put, just as the 2012 budget of the authority has been approved by the National Assembly.
Confirming this to Vanguard, the authority’s spokesman, Chief Micheal Ajayi, said that the N157billion expected revenue is being proposed as the impediments militating against port operation are being gradually removed.
Ajayi stated that besides the removal of some impediments militating against efficient cargo delivery, the investment on infrastructure by concessionaires and deepening of the port channel is also a factor that will help the authority in realising the N157 billion revenue target.
The authority’s spokesman said in as much as the port system has not been able to achieve 48 hours cargo clearance tine, an importer can take delivery of his or her goods in four or five days. He explained that the improvement on facilities has led to 100 percent increase of cargo thorough put, cargo dwell time, and ship turn around time.
Ajayi further explained that as at 2010, cargo thorough put stood at 48million metric tonnes while that of 2011 was put at 82million metric tonnes. He was of the opinion that NPA will surely meet the target if everything goes well with the 2012 financial plans. “Äll things being equal, we will able to meet the revenue target of the proposed N157billion for the year 2012 if there are no distractions.”
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