Following the queries by the red chamber of the National Assembly insinuating that the Nigerian Ports Authority (NPA) is yet to remit its 2017 operating surplus into the Consolidated Federation Account (CFA), the management of the NPA has said it has already remitted the revenue as expected.
According to a statement signed by the management of NPA led by Hadiza Bala-Usman as the managing director, the allegation of the senators was without foundation.
The statement disclosed that a total revenue generated by the Authority in 2017 stood at N303.9 billion while the sum of N205.8 billion stood as recurrent and capital expenditure.
“Of the N303.9 billion generated revenue, the sum of N60.12 billion represents uncollectable revenue from concessionaires attributed to clauses in the concession agreements, which the authority is currently reviewing,” NPA said in the statement.
“Consequently, the operating surplus for the authority in 2017 was the sum of N38 billion.
The statement further said that the sum of N30.4 billion which represents 80 percent 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.
It stated that the Authority has already remitted the sum of N11.3 billion for 2018 CRF contribution into the Consolidated Revenue Fund with the use of Authority’s management account ahead of auditing for 2018.
These computations arise from the Authority’s management account pending the conclusion of the audit of the 2017 financial statement, which is ongoing.
The reads: “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.
“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,” the statement added.
Tags: Nigerian Ports Authority