Reps invite Amaechi, NPA over N166.9bn ‘missing’ revenue

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The Minister of Transportation, Mr. Rotimi Amaechi and the management of Nigeria Ports Authority (NPA) have been summoned by the House of Representatives to give details of the revenue accruing to the NPA as of December 31, 2016.

The officials had invited them to respond to a query issued by the Auditor-General of the Federation, Adolphus Aghughu, on May 24 demanding that the minister and NPA give a breakdown of the financial statements of the NPA for 2016, 2017 and 2018. 

Amaechi and NPA were also asked to explain what happened to the dividend income to the tune of N643million received from their joint partners as well as the interest income of about N97.8million and N28.7million respectively.

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The Auditor-General also said there was an understatement of depreciation charges to the tune of N6.4 billion and the provision made against 8 properties of N4.47billion as opposed to the N10.89 million that was arrived at during the examination.

In the query, Aghughu said the NPA accounts revealed that the channels and waterways maintenance increased from about N45billion in 2015 to N64billion in 2016.

NPA was also queried on other matters that include the administrative expenses of N61billion donation and subscription amounting to N1.88billion, exchange loss of N7.3billion, defined benefit of N11.4billion, and the director’s remuneration of N4.2million.

Initially expected to appear before the House on Thursday, the minister and management of NPA asked to reschedule. Granting their request, the House postponed till July 8, 2021.

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