NPA remitted N11.3 billion 2018 surplus to government, says Bala Usman

The Managing Director, Nigerian Ports Authority (NPA), Hadiza Bala Usman, said the Authority had remitted over N11.3 billion being part of the 2018 business operations’ surplus to the Federal Government coffers this year.

Bala Usman, who made this known in a swift reaction to an allegation that NPA failed to remit the sum of N177 billion operating surplus, insisted it had paid the 2017 surplus to the Federation Account, and even paid part of the 2018 surplus already.

Bala Usman, in a statement described the view of the ‘testifier’ as an “allegation without foundation,” having remitted a whopping sum of over N38 billion into the government coffers.

She stated: “With due respect to our distinguished senator, the Authority wishes to state that this allegation is without foundation. The facts of the situation are as follows: “Total revenue generated by the NPA in the Year 2017 stood at N303.9 billion.

“Total expenditure (inclusive of recurrent and capital) amounted to N205.8 billion.

“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.

“Consequently, the operating surplus for the Authority in 2017 was the sum of N38 billion.

“Therefore, the sum of N30.4 billion, which represents 80 per cent of the operating surplus that the Authority is required to remit to the Consolidated Revenue Fund. 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.

“These computations arise from the Authority’s management account pending the conclusion of the audit of the 2017 financial statement, which is ongoing.

“It is pertinent to also note 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.

“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,” she said further, and appealed to the lawmakers to exercise greater restraint on issues that deal with the integrity of national institutions, in the course of their oversight function.