NPA To Refund N40.13b To Federal Government

Nigeria's Aquatic Endowments, Geography Make Deep Seaports Potential Revenue Earner - NPA

The Auditor-General for the Federation has indicted the Nigeria Port Authority (NPA) for failure to recover and remit N40.126 billion, $921.636 million and 289,931.82 pounds to government treasury from various revenue sources in 2019.

The statement was fixed in 13 audit questions for the NPA signed by the Auditor-General, Adolphus Aghughu and presented to the National Assembly.

The report emphasized that an agreement was signed between the NPA and various terminal operators which stated that: ”A fixed annual payment of a sum as specified in the schedule be paid in 12 equal installments in each operating year, the first installment to be paid on the first day of the month after the effective date and then, on the same date of every month thereafter.”

It also said that the terminal workers failed to comply with the agreements in terms of their obligations to make the payment of fixed fees over the period of time, thereby withholding $852,093,730.77 and N1,878,560,509.57 that should have been submitted to the NPA for that period of time.

The statement also said that estate tenants, shipping companies and service boats working from the ports were owing the NPA a sum of $67.425 million and N32.266 billion outstanding as estate rent, shipping due and service

It frowned at the inability of the NPA to decide the status of about N5.260 billion and $1.250 million outstanding debt, adding that all efforts to know their current status was not successful as relevant information was not provided

It also made comments at the irregularity in the award of contract for the construction of delivery and commissioning of MDPE channel marking in foreign currency, irregular payment for the supply for fire alarms communication and office equipment for Lagos port complex and irregular payment for the supply of fire alarms communication and office equipment for Ikorodu lighter terminal.

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