Headlines

Bello-Koko defends NPA’s 2024 budget

0

By Abiodun OBA

 

The Managing Director of the Nigerian Port Authority (NPA), Mr Mohammed Bello-Koko, defended the Authority’s 2024 budget before the House of Representatives Committee on Port and Harbour on Thursday in Abuja.

Bello-Koko disclosed that the agency is expected to generate N629.89 billion in 2024.

This is as NPA is also asking for a N200 billion loan from Afrexime Bank.

According to him, the total projected expenditure is N464.32 billion, while the operating expenses are projected at N212.03 billion, and the capital expenditure stood at N252.29 billion.

He said, “Part of the main trust of the 2024 budget is the urgent need to rehabilitate, reconstruct and moderate the dilapidated port infrastructure facilities.”

Bello-Koko added that the defects in the facilities were hampering efficiency and productivity in the ports, adding that the defects include the Quay Wall and the replacement of old gravity walls and rehabilitation of escravos breakwaters.

He added that NPA aims at improving port efficiency and increasing cargo traffic through investment funding from the financiers, UKEF and Afriexim.

Rep. Nnolin Nnaji, the Chairman of the Committee, said the agency is very dare to the country, adding that the committee needed to visit some of the facilities outside Lagos.

“We need to see those things you are telling us. The House of Representatives is very serious about budget defense, while they do screening on the other side. Budget defense is here.”

He commended the MD for the budget presentation, saying, “I believe in the subsequent budget, the MD would do better, we accept this budget, and we will move further with it.

The committee also said the drainage channels were full of wreckage, expressing worry over a lack of information on wreckage removal.

The committee said as long as the NPA avoids the wreckage, it will keep occurring because of the abandoned ships, urging the NPA to look into it.

© 2024, maritimemag. All rights reserved.

FX restriction on dairy products lifted

Previous article

FG approves suspension of 25% penalty on improperly imported vehicles

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in Headlines