The Nigerian Ports Authority, NPA, says it remitted $10 million (about N1.2 billion) into the Federation Account between January and October this year. The Managing Director NPA, Abdulsalam Mohammed, made this known while answering questions from members of the Senate Ad-hoc Committee on Transportation in Abuja.
Also the NPA, in a statement, confirmed the amount it remitted into the Federation Account, adding that it was a demonstration of the authority's determination to surpass its previous records.
Mohammed called for appropriate legislation to streamline the number of security agencies at the nation's ports in order to facilitate prompt clearance of goods from the ports. He also called for the urgent establishment of a technical regulatory body to regulate the activities of the terminal operators in the current concession regime.
“Any programme of liberalisation worldwide cannot succeed in the absence of regulation. Unfortunately, the process we have followed was to concession without establishing appropriate regulatory framework,” Mohammed said.