A document from the Nigerian Ports Authority (NPA) has revealed that roughly 18 terminal operators at the seaports owe the Federal Government $753 million and N1.61 billion.
This forms part of the debt identified by the Auditor-General of the Federation (AuGF) as monies standing against the terminal operators as of December 31, 2019, in its report to the National Assembly.
The terminal operators are those operating at the Lagos Port Complex, Tincan Island Port, Delta Ports, Rivers Port Complex, Onne Port Complex, and Calabar Port Complex respectively.
The Office of the Auditor General for the Federation, had, in his report on non-compliance/internal control weaknesses issues in ministries, departments, and agencies of the Federal Government for the year ended 31st December 2019 said terminal operators were indebted to the government to the tune of 852.094 million dollars and N1,878,560,509.57.
The AuGF’s office said: “Agreements signed between NPA and various terminal operators state that a fixed annual payment of a sum as specified in the schedule below to be paid in 12 equal installments in each operating year, the first installment to be paid on the first day of the month after the effective date and then, on the same date of every month thereafter.
“Audit observed that the terminal operators failed to comply with lease agreements in terms of their obligations relating to the payment of fixed and throughput fees over the period.
“The sum of US$852,093,730.77 and 1,878,560,509.57 that should have been remitted to the NPA remained outstanding.”
