Business
Reps Indict NPA Over N70bn Tax Evasion
The House of Representatives Committee on public accounts has indicted the Nigeria Ports Authority (NPA) of tax evasion to the tune of about N70 billion spanning between 1999 and 2009.
The committee’s indictment is coming as the Chairman of Federal Inland Revenue Service (FIRS), Ifueko Omoigui- Okauru, has sought for defence from NPA. The indictment was the fallout of an interactive session between the House Committee and FIRS boss.
A source close to the committee chairman told The Tide that the committee as in receipt of documents and was ready to probe the matter.
The committee, it was learnt wants more documents on all taxes being owned by the Nigeria Ports Authority to FIRS totaling about N70 billion for the last 10 years.
Details of the alleged tax evasion were not made available to The Tide, although it was confirmed that the FIRS met with the law makers with the intention of making NPA to clear their debt owned.
In another development, the NPA amendment bill when passed into law is expected to address critical issues concerning port concessioning.
Stakeholders and private operators have expressed worry that the present NPA regulatory law does not adequately provide cover for the transactions leading into the concessioning of the nation’s seaports.
A source at National Assembly revealed that the draft amendment bill proposes to increase the directorates in the authority to reflect its role as well as fine-tune the fiscal provisions of the ports act.
It also hopes to empower NPA for port acquisition through purchase, in order to beat the land allocation constraints contained in the land use act even as the bill seeks to empower NPA to promote and regulate private port developments and off-dock facilities among others.

A cargo ship in flames at the NPA wharf in Port Harcourt. Photo: King Osila
Business
NIMASA Commits To Creating Enabling Environment For Maritime Business

Business
FG Inaugurates Special Committee Against Boat Accident
