GPA Makes Over D600 Million Profit in Gas Supply Project

The Daily Observer (Banjul)

Musa Ndow and Aji Fatou Faal

27 June 2011

The vice president and minister for Women’s Affairs has disclosed that the Gambia Ports Authority (GPA) registered a profit of D609, 407, 000 in the supply of a 100 metric butane gas contract between the GPA and SOMAGAZ of Mauritania.

Her Excellency Aja Dr Isatou Njie-Saidy made this disclosure Wednesday while responding to a question from Hon. Babanding KK Daffeh, NAM for Kiang Central, who asked for an answers as to the amount of profit and loss generated from the butane and basalts projects involving The Gambia, Cape Verde and Mauritania. According to the VP, the contract was signed between the two institutions in 2008 for the supply of 100 metric butane gas at a cost of one hundred and twenty nine thousand and one hundred and ten dollar, sixty one cents (US$129,110.6) at D21.44 equivalent to two million seven hundred sixty eight thousand, one hundred and thirty-one dalasi, twenty six bututs (D2, 768,131.26).VP Njie-Saidy said: “As at end of April 2009, The Gambia Ports Authority (GPA) realised gross sales of D4.956 million and a total cost of D4.346 million result to a profit of D609, 407.10.”

Loss in basalt contract

Regarding the basalt contract, VP Njie-Saidy said a sum of 26.0 Euros per metric tone for 70,000 metric tones equivalent Euro 1, 820,000 was signed in October. She said in June 2008, approximately 6600 tones of basalt was discharged at the Ports of Banjul costing about Euros 165, 561.29 equivalent to five million one hundred and seventy four thousand, seven hundred and six dalasis, thirty-two bututs (D5,174,706.32). “The grades were 5/10 and 10/16. As at end of June 2009, GPA realised gross sales of D5.5 million and a total cost of D8.1 million resulting to a total loss of D2.6 million. It should be noted that the basalt were bought from alternative sources different from traditional suppliers with a view to avoiding overdependence on one country for this important commodity,” she explained.

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