The Management of the Nigerian Ports Authority
(NPA) has countered allegations that it failed to remit the sum of N177 billion
Operating Surplus from its 2017
revenue to the Consolidated Federation Account.
(NPA) has countered allegations that it failed to remit the sum of N177 billion
Operating Surplus from its 2017
revenue to the Consolidated Federation Account.
In a
statement on Thursday, the NPA said that some media had drawn reports “from discussions
that followed a motion at the Plenary of the Senate on Wednesday, November 28,
2018.”
statement on Thursday, the NPA said that some media had drawn reports “from discussions
that followed a motion at the Plenary of the Senate on Wednesday, November 28,
2018.”
The NPA,
therefore, refuted the claims stating that “With due respect to our
distinguished Senator, the authority wishes to state that the allegation is
without foundation. The fact of the situation are as follows:
therefore, refuted the claims stating that “With due respect to our
distinguished Senator, the authority wishes to state that the allegation is
without foundation. The fact of the situation are as follows:
Total Revenue
generated by the Authority in the Year 2017 stood at N303.9bn.
generated by the Authority in the Year 2017 stood at N303.9bn.
Total expenditure
(inclusive of recurrent and capital) amounted to N205.8bn.
(inclusive of recurrent and capital) amounted to N205.8bn.
Of the N303.9bn
generated revenue, the sum of N60.12bn represents uncollectable revenue from
concessionaires attributed to clauses in the concession agreements, which the
authority is currently reviewing.
generated revenue, the sum of N60.12bn represents uncollectable revenue from
concessionaires attributed to clauses in the concession agreements, which the
authority is currently reviewing.
Consequently,
the operating surplus for the authority in 2017 was the sum of N38bn
the operating surplus for the authority in 2017 was the sum of N38bn
Therefore,
the sum of N30.4bn, which represents 80% of the operating surplus that the
Authority is required to remit to the CRF in line with the Fiscal Responsibility
Act, 2007, has been duly paid into the Consolidated Revenue Fund by the
Authority with receipt of payment already issued by the office of the
Accountant-General of the Federation.
the sum of N30.4bn, which represents 80% of the operating surplus that the
Authority is required to remit to the CRF in line with the Fiscal Responsibility
Act, 2007, has been duly paid into the Consolidated Revenue Fund by the
Authority with receipt of payment already issued by the office of the
Accountant-General of the Federation.
These
computations arise from the Authority’s management account pending the
conclusion of the audit of the 2017 financial statement, which is ongoing.
computations arise from the Authority’s management account pending the
conclusion of the audit of the 2017 financial statement, which is ongoing.
It is
pertinent to also note that the Authority has already remitted the sum of N11.3bn
for 2018 CRF contribution into the Consolidated Revenue Fund with the use of Authority’s
management account ahead of auditing for 2018.
pertinent to also note that the Authority has already remitted the sum of N11.3bn
for 2018 CRF contribution into the Consolidated Revenue Fund with the use of Authority’s
management account ahead of auditing for 2018.
The Authority
wishes to state its readiness to present all documents needed to provide
clarification to the Senate Committee on Marine Transport and the Senate.
wishes to state its readiness to present all documents needed to provide
clarification to the Senate Committee on Marine Transport and the Senate.
On a final
note, while we appreciate the constitutional oversight role of distinguished
senators on the operations of the NPA, we suggest greater restraint on issues
that deal with the integrity of national institutions even as we assure of our
respect for the Senate.”
note, while we appreciate the constitutional oversight role of distinguished
senators on the operations of the NPA, we suggest greater restraint on issues
that deal with the integrity of national institutions even as we assure of our
respect for the Senate.”
