NPA remits N15bn to federation account

The Nigerian Ports Authority (NPA) has remitted N15 billion into the federation account from a total sum of N128 billion which it generated in 2012, Idris Umar, Minister of Transport, announced recently during the Federal Executive Council (FEC) meeting in Abuja.

According to the minister, who presented the performance evaluation report of the ministry and its parastatals to the FEC meeting chaired by President Goodluck Jonathan, also said NPA budget implementation grew to an impressive 71.92 percent from the low performance of 13 percent recorded in the previous year.

The budget performance of the Nigerian Maritime Administration and Safety Agency (NIMASA), Umar said, stood at 45.64 percent, and the agency also remitted a total of N309 million into the national coffers in the year under review.

He further explained that out of the N49.6 billion budgeted for capital expenditure for the Ministry of Transport in 2012, about 56 percent representing a total sum of N26 billion was accessed by the ministry.