1,992 ships with a 60.2 million total gross registered tonnage and 849,175 TEUs (twenty equivalent units) were received by seaports in Nigeria between January and June 2022.

A statement by the Nigerian Ports Authority (NPA) disclosed that 132,543 units of imported vehicles and 38,672,392 metric tonnes of bulk cargo passed through the port during the period under review.

While the average turn-around-time of vessels  stood at 5.16 days, the agency is optimistic that  the second half of the year will be better.

On revenue, the authority generated the sum of N172.29 billion between January and June 2022, and remitted N78.49 billion into the Federal Government’s Consolidated Revenue Fund (CRF) account.

“A breakdown of the figure indicates that N50,255,925,779.20 (fifty billion, two hundred and fifty-five million, nine hundred and twenty-five thousand, seven hundred and seventy-nine Naira, twenty kobo) represents cash remittances, the compulsory deduction of 25% of revenue generated and other sundry payments for the absolute period of January – June 2022.

“The remaining sum of N28,241,041,083.00 (twenty-eight billion, two hundred and forty-one million, forty-one thousand, eighty-three Naira) relates to the remittance with respect to other periods.

“Global economic and inflation crises, global reduction in household incomes and purchasing power and scarcity of foreign exchange all of which has negatively affected business environment, affected government revenue and constrained expenditure.

“The development in the port industry cannot be severed from the macroeconomic environment with galloping inflation that has grossly reduced the disposable income of households, the depreciating exchange rates that stifle business environment and the dwindling government revenue that constrains expenditure.

“In the face of these harsh macroeconomic indices, the Nigerian Ports Authority has forged on to deliver port and harbour services to the teeming operators in the export and import businesses across the country.”