According to the Nigerian Ports Authority, its yearly income increased from N361 billion to N501 billion in 2023.

In a statement released on Thursday, Mohammed Bello-Koko, the Managing Director of NPA, credited the income gain to the execution of performance improvement initiatives.

Remember that even while NPA’s remittances to the Consolidated income Account increased from N80 billion to N91 billion in the last year, its income profile increased from N317 billion in 2020 to N361 billion in 2022.

It noted that it had “succeeded in leapfrogging Nigeria’s foremost trade facilitation platform to surpass its sterling performance” in 2022.

“The implementation of performance improvement measures resulted in unprecedented revenue generation and remittances to the Consolidated Revenue Fund of the Federation, with revenues steadily growing from N361bn in 2022 to N501bn as of December 2023,”

NPA revealed that remittances rose from N93.4bn in 2022 to N131.2bn in 2023, adding that taxes paid to the government of the federation,

And grew at various times in the period under review, “totalling the sum of $77.7m and N17.6bn respectively”.