18 Terminal Operators Owe FG $753million, N1.61billion, Says AGF
August 15, 2022
The office of the Auditor General of the Federation (AGF) has queried the Nigerian Ports Authority (NPA), over the indebtedness of about 18 terminal operators doing business in the nation’s ports to the Federal government to the tune of $753 million and N1.61 billion respectively.
According to the query, the amount forms part of the debt identified by the Auditor General for the Federation as monies standing against the terminal operators as at 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 port, 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 of Nigeria 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.
According to the query, “agreements signed between NPA and various Terminal Operators states 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.
However, in its response sent to the Public Accounts Committee of the House of Representatives, the NPA management confirmed that the original debt owed the government by the port operators stood at $852,093,730.77 and N1,878,560,509.57.
It said that out of the amount, $753 million and N1,609,150,534.32 have not been paid by the terminal operators.
The query listed the terminal operators and their debt profile to include APM Terminal, Apapa ($562.060 million), Apapa Bulk Terminal ($4,621.20), ENL Consortium ($957,020.77), Greenview Development ($20,750,443.65) and Standard Flour Mills ($893.77).
Others are Intels Nigeria Limited, operators of Terminal A at the Delta Ports Complex ($2,429,382.80), Intels Nigeria Limited, operators of Terminal B of the Delta Ports Complex ($4,589,576.75), and Associated Maritime Services ($328,027.64) and Greenleigh Ports Nigeria Limited ($1,734,492.41)
The rest are BUA Ports and Terminal Limited ($12,254,424.55), Port and Terminal Operators Nigeria Limited ($107,311,506.46), Brawal Shipping Nigeria Limited ($226,541.72), Intels Nigeria Limited at Onne Port Complex ($430,404.81), Intels Nigeria Limited also at Onne Port ($670,954.72), Intels Nigeria Limited also at the Onne Port ($1,928,250.44), Shoreline Logistics ($1,181,023.57).