NPA, Calabar Generates N3b In First Quarter

Ms Hadiza Bala UsmaN-NPA Managing Director,
Ms Hadiza Bala UsmaN-NPA Managing Director,

The Nigerian Ports Authority (NPA), Calabar generated N3 billion revenue in the first quarter of this year, Maritime News reported.

Speaking with our reporter at the weekend, a senior official of the Federal Ministry of Finance (FMoF), who craved anonymity, said the revenue excluded terminal operators’ huge debts to the NPA.

The NPA generated more than $3.3 million and N176 million from the Calabar Port within the period, the official reported.

The NPA, the official said, also collected more than $3.3 million and N77 million as revenue from the port during the same period.

Investigation revealed that the NPA generated $697,001 and N63,604,478 in January this year, but collected $1,500,340 and N10,736,116 during the same period in the previous year.

Findings further revealed that the agency generated $1,162,050 and N73,348,301 in February this year while $834,593 and N30,332,126 were collected within the same period last year.

The NPA, it was gathered, generated $1,501,922 and N38,125,608 in  March, and collected $1,476,840 and 36,402,244 in January and February this year.

“When we looked at the dollar amount generated at the Calabar port by the NPA, we discovered that it was over $6.6 million. NPA also raked in over N254 million during the first three months of this year.

“We are happy that the management of NPA has put the Calabar Port to good use to boost the economy.

“We, in the Ministry of Finance, sincerely appreciate the relentless efforts of Ms Hadiza Bala Usman, NPA Managing Director and her management team in restructuring the organisation, which has assisted in achieving optimal operational efficiency in the ports and boosted government revenue,” the official said.

“We learnt that the serene environment created by Ms Usman and enjoyed by stakeholders attracted more importers and increased ship traffic to the Rivers port. This led NPA to more revenue generation for the Federal Government.

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“Her robust policy has also led to the move from the long-standing International Ship and Facility Security (ISPS) Code level 2, to the current level 1. We were told that she also instructed all her port managers to maintain a cordial relationship with stakeholders and the host communities.

“Considering the directive by Ms Usman and her team on training and retraining of members of staff on the E-Service, such as E-SEN, Revenue Invoicing Management System ( RIMS), Customers Potal and E- Manifest, the NPA management has brought prospect to potential port users, stakeholders and operators,’’ the official said.

In the meantime, Temile Development Company Limited, an indigenous shipping company operating Nigerian oil and gas industry, in a quest to increase local supply of Liquefied Petroleum Gas (LPG), signed a ship building contract with South Korean shipbuilder- Hyundai Heavy Industries Limited- to build one firm and one optional LPG carriers.

Both vessels are valued at more than $120 million and the first carrier is expected to be delivered by the first quarter of 2020. The contract, which was signed in London recently between Temile Development Company and Hyndai Heavy Industries officials was witnessed by Mr. Tony Attah, the Chief Executive Officer, Nigerian Liquefied Natural Gas Company (NLNG); Engr. Simbi Wabote, Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB) and Mr. Mohammed Balarabe, Deputy Managing Director, Fidelity Bank- the main banker to Temile Development Company Nigeria Limited.

Speaking at the ceremony, Tony Attah said the transaction was indeed ground breaking, explaining that it supports the quest to develop the domestic LPG market and aid the growth of indigenous companies in the process.

“NLNG’s domestic LPG intervention scheme aligns with our business focus of bringing energy to the world and helping to build a better Nigeria,’’Wabote stated.

“We have extensive experience in various sectors of the oil and gas industry in Nigeria, with particular interest in the offshore shipping and logistics. Our entrance into LPG market is exciting and we are in very safe hands to have ordered a LPG carrier from Hyundai Mipo Dockyard. This will no doubt increase the participation of Nigerian investors in the LPG space,” Temile, the Chief Executive Officer, Temile Development Company Limited, said.

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Whilst commending Temile Development Company for the trailblazing move, Mr. Mohammed Balarabe, DMD, Fidelity Bank, emphasised the need to increase local participation of indigenous companies in the oil and gas industry and reiterated the bank’s support for indigenous players to grow capacity.

“The attendant effect on job creation and economic development is huge and unimaginable if Nigerian companies can participate more in the entire oil and gas value chain” said Balarabe.