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NPA set to begin aggressive debt recovery drive including $42.3m, others

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There are strong indications that the Nigerian Ports Authority (NPA) is set to begin coordinated debt recovery drive including funds trapped in banks since the take off of Treasury Single Account (TSA) and others traced to port operators across the six port complexes in Nigeria.

Business Hilights recalls that some banks (names with held) are yet to move revenues collected on behalf of the Authority to the TSA upon the intervention of the Central bank of Nigeria (CBN).

Besides, the Rivers Port Complex has explained that it generated $62.3million and N1.2Billion in 2017, compared to $57.6million and N772.4million recorded in 2016.

Some of the funds targeted to be recovered within the debt recovery campaign about $42.3m and N600m yet to be remitted to NPA’s account since last year by some operators at Rivers Port Complex.

Details of the transactions revealed that out of the $62.3million generated in 2017 by the Port Complex, only $20.6million has been collected or paid.

Account details further revealed that out of the N1.2billion generated within the period, the management of the Port only got payment of N435.8million.

Explaining more during a recent interactive session with stakeholders in Port Harcourt, Rivers State, Hadiza Bala-Usman emphasized the need for all stakeholders to effect payment promptly.

She was represented by the Executive Director, Finance and Administration, Mohammed Bello-Koko at the meeting.

However, one of the high points during the meeting was the cheering news broken by the NPA boss that the Authority will soon receive Ro-Ro Vessel at Rivers Port Complex.

Earlier in his address, the Port Manager, Rivers Port Complex, Alhaji Abubarkar Umar  Said the Port has its own challenges ”such as  lack of finger jetty at the dockyard, lack of operational Tug Boats, lack of Patrol Boats, lack of functional water hydrants at the quays, to mention but a few”.

He said “The serene environment experienced by the stakeholders attracted more importers and increased Ship Traffic of the Port which led to more revenue generation.

“This also led to the move from the long standing International Ship and Facility Security (ISPS) Code level 2, to the current level 1 and we maintain a cordial relationship with the stakeholders. Management recently allocated two new security patrol vans to the Port.

“Other achievements include:- Responsive management, reduction in vessel turn-around time, improvement in revenue generation and collection, improvement in service delivery, and improved safety guidelines etc”.

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