The Managing Director of the Nigerian Ports Authority, Mohammed Bello-Koko, has attributed the inefficient functioning of the country’s ports to the poor condition of the facilities.
The head of NPA made this statement in Abuja on Thursday while justifying the agency's budget for 2024.
He expects NPA to earn around N629.89 billion in revenue in 2024 and is seeking a N200 billion loan from Afrexim Bank and the United Kingdom Export Finance.
He mentioned the issues as including “The quay wall, replacement of old gravity walls, and the rehabilitation of Escravos breakwaters.”
He explained, “The total estimated expenditure is N464.32 billion, with operating expenses projected at N212.03 billion, and capital expenditure at N252.29 billion.
“One of the main focuses of NPA's 2024 budget is the urgent need to refurbish, reconstruct, and improve the deteriorated port infrastructure.”
He added that the budget aims to enhance port efficiency and boost cargo traffic through investment funding from the financiers, UKEF and Afriexim.
Nnolin Nnaji, the Chairman of the House Committee on Ports and Harbours, emphasized the importance of NPA to the Federal Government and the committee's intention to inspect facilities outside Lagos State.
He stated: “We need to see those things you are telling us. The House of Representatives takes budget defense seriously and conducts thorough screening.
“I expect the MD to perform better in the next budget. We approve this budget and will proceed with it.”
The committee also mentioned that the drainage channels were filled with wreckage and expressed concern about the lack of information regarding wreckage removal.
The committee pointed out that as long as NPA neglects the wreckage, it will continue to occur due to abandoned ships, and urged the agency to address this issue.