Business
We’re Repositioning NPA For Efficiency, Safety – MD
The Acting Managing Director of the Nigerian Ports Authority (NPA), Mr Mohammed Bello-Koko, has assured manag-ement’s determination to reposition the nation’s seaports for greater efficiency, safety and accountability.
Bello-Koko made the pledge in a statement signed by the General Manager, Corporate and Strategic Communications, Mr Olaseni Alakija on Monday in Lagos.
The Acting Managing Director while speaking at the just-concluded strategic retreat organised for NPA top management, staff said that the organisation was currently poised to creating and sustaining competitive advantage by offering its best in port operations.
The statement said that the retreat was designed to allow management staff to strategise and come up with “smart actionable steps”.
This, according to Bello-Koko, is with the view to ensuring growth, competitiveness and future readiness of the nation’s seaport systems.
“As part of efforts to position the agency towards greater efficiency, safety and accountability, the management has outlined factors that will enhance such prospects, as well as the capacity to garner greater market share.
“This will include infrastructural renewal and expansion, the introduction of barge operations, automation of truck transit through the electronic call up system and improvement in the sources of revenue and collection.
“Others include plugging income leakages and reducing overhead costs, elimination of monopolistic conduct, formulation and implementation of policies aimed to incentivise patronage of the Eastern Ports and encouraging competition,” he said.
Bello-Koko said that management was also keeping up with the dictates of Consolidated Revenue Fund and Fiscal Responsibility Act, compliance with international best practices, elimination of red tape, boosting workers’ morale and capacity building, among others.
He disclosed that these initiatives had laid the groundwork for some milestones with great potential for more, as some of the reforms continue to transform into success evidenced by improved cargo throughput and revenue growth.
“Because excellence is a moving target, we cannot afford to rest on our laurels, we must redouble our commitment to continuous improvement as an organisational culture.
“Surpassing internal and external stakeholders’ expectations, which constitute a cardinal objective of this management, will require your unalloyed support as heads of directorates, divisions, locations, departments, port sections and units”, he said.
Bello-Koko said he expected that the retreat would churn out specific, realistic, measurable, achievable and time-bound goals and objectives by which NPA would be benchmarking itself in the next five years.
He said that the last time an event of this magnitude was held to chart a new direction for NPA was over a decade ago where the organisation’s present vision, mission and core values were crafted.
“We must, therefore, go beyond rhetoric to churn out implementable strategies aimed at making us equal to the exigencies of the very competitive edge and sector that we operate in,” he said.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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