The Nigeria Ports Authority, NPA, has presented a spending plan of N629.89 billion in 2024 to its supervising committee in the House of Representatives.
This is as the agency says it hopes to secure a N200 billion loan from Afriexim Bank and the United Kingdom Export Finance to rejuvenate the ports.
National Assembly Correspondent, Joke Adisa, reports that it is the first budget defence meeting between members of the House Committee on Ports and Harbour and the Nigeria Ports Authority.
The committee emphasised the need to achieve improved productivity at the ports nationwide.
The management of NPA, led by its Managing Director, Mohammed Bello-Koko, briefed the legislators on the expenditure of the 2023 budget as well as its projection for 2024 fiscal year.
A breakdown shows a total projected expenditure of N464.32 billion with projected operating expenses at N212.03 billion and capital expenditure at N252.29 billion.
He says noticeable defects in the facilities were hampering efficiency and productivity at the ports
Beyond the figures, lawmakers took on the NPA team on a number of issues, including the wreckage-filled drainage channels at the nation’s ports and the lack of information on their removal.
The committee expressed its readiness to go on an oversight function to the ports outside Lagos state to assess their development so as to better channel its intervention for maximum efficiency.
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