Nigeria loses $248m, N3.558bn to waivers in 6 yrs – NPA

Mallam Habibu AbdullahiThe Nigerian Ports Authority (NPA) has revealed between 2009 and 2015, the country lost $248,238,305 and N3.558 billion to indiscriminate waivers.

The House of Representatives Committee on Ports, Harbours and Waterways has expressed worry over what it described as executive interference by the immediate past administration that incapacitated the House from carrying out its legislative functions.

NPA in a document it presented to the House Committee chaired by Hon. Patrick Asadu, stated: “As a result of the Federal Government’s approval for 50 per cent rebate to petroleum product vessels berthing at private jetties, NPA has waived $248,238,305.80 and N3,558,148,366.98 as amounts that would have accrued as revenue from 2009 to October 2015.”

Managing Director of NPA, Mallam Habib Abdullahi told the committee that NPA generated N128.213 billion between January and September 2015 and that N5,806,822,000 was remitted to the Federal Government’s Consolidated Revenue Account.

He also said that the authority generated N162.184 billion in 2014 and that N11,023,350,000 was remitted to the Consolidated Revenue Fund (CRF); N154.580 billion generated in 2013, with N493,895,000 remitted to CRF; N140.251 billion in 2012 while N20,713,768,000 was remitted to CFR.

He enumerated some of the challenges facing NPA to include funding of required infrastructure; cost of acquisition of land and compensation for future port development, lack of reliable power supply, bureaucracy in procurement process, encroachment on port lands and insecurity of the waterways.

By Pita Ochai

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