Nigerian Ports Authourity has remitted a whooping =N=1.2Billion into government coffers even as its managing director, Mallam Abdusalam Abubakar assures that despite statutory commitments to maintenance of ports infra and super structures, the organisation will continue to fulfil it obligations.
The managing director gave this assurance recently in Abuja when he appeared before the Senate ad-hoc committee which is probing activities of the ministry of transportation between 1999 and 2007.
The remittance was made between January and October, 2008, just as the managing director assured that it would continue to meet its obligation to the government.
According to him, the remittance demonstrated the determination of the Organization to henceforth surpass its previous records of disbursement to the Federation Account.
While appreciating the concerns expressed by members of the ad-hoc committee on the amount of monies transferred to the Federation Account by the Authority in the recent past, the Managing Director assured the members that the Authority was determined to change the trend and to ensure that the remittance remain consistent.
“As a responsive management, despite our enormous challenges in funding our several port development projects, which are crucial to the survival of the industry, we are determined to ensure enhance remittance to the Federation Account. We have that responsibility and we have started achieving it”, he added.
He also revealed that the Authority can now boast of a sound liquidity position due to the new financial discipline adopted by the management in the execution of essential projects and services.