NIMASA remits N16bn to Consolidated Revenue Fund

0

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Perterside Dakuku, on Tuesday, claimed that the agency has remitted the sum of N16 billion to the Consolidated Revenue Fund, a figure that is N4 billion higher than the budgeted sum.

Dakuku, who made this known in Abuja on Tuesday, said 133 per cent increment was due to a number of measures put in place by the agency such as effective monitoring of vessels, enforcement of laws, increased surveillance and debt recoveries.

Peterside stated this when he appeared before the House of Representatives Committee on Maritime Safety, Education and Administration for the appraisal of the 2019 budget of NIMASA.

According to him, N110.84bn was the targeted revenue for 2019, out of which N83.49bn, representing 74 per cent, was realised while N20bn had been spent out of the N28bn allocated for the mandatory Maritime Fund.

While further breaking down the expenses for the 2019 budget, Peterside said N20bn was budgeted for personal cost out of which N15.2bn had been spent, while overhead cost was allocated N24bn with only N12bn spent out of it.

He also explained that capital expenditure was pegged at N18bn, with only N1.5bn spent, adding that this was due to the fact that many contractors had not commenced work even though contracts have been awarded.

The NIMASA boss also added that the agency released N2.5bn to the Nigerian Maritime University, Okerenkoko, Delta State.

“As of October 31, we have contributed N16bn into the Consolidated Revenue Fund. We have since increased our contribution and in that contribution, we have exceeded our budget target. We have achieved 133 per cent of what is expected of us. Paying into the CRF, Nigeria will have resources to build roads, railways and develop infrastructure.

“We were able to achieve that because of a number of measures we put in place – effective monitoring of vessels, enforcement of laws. We have also automated our payment systems. We have also commenced a surveillance system. We have also commenced an effective debt recovery programme”, he said.

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More