NIMASA’s contribution to consolidated fund hits N16 billion in 2019
Nigerian Maritime Administration and Safety Agency (NIMASA), said it has contributed about N16billion to the consolidated revenue fund, exceeding the budgeted sum of N12billion.The 133 per cent increment follows a number of measures put in place by the Agency, such as effective monitoring of vessels, enforcement of laws, increased surveillance and debt recoveries.
NIMASA Director-General, Dakuku Peterside, made this known Tuesday while giving account of the 2019 budget performance before the House of Representatives Committee on Maritime Safety, Education and Administration. Peterside said: “As at October 31, we contributed N16billion to 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 to the Consolidated Revenue Fund, 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 like effective monitoring of vessels, and enforcement of laws. We have also automated our pay systems. We have also commenced surveillance system. We have also commenced effective debt recovery programme.”
Giving a breakdown of the 2019 budget, Peterside explained that N110.84 billion was budgeted as targeted revenue for 2019, of which N83.49 billion or 74 per cent was realised, while N20 billion was spent from the N28billion allocated for the mandatory Maritime Fund.
He said N20billion was budgeted for personal emolument against N15.2billion spent, while overhead was allocated N24billion but only N12billion have been spent.
He said further that capital expenditure was pegged at N18billion with only N1.5billion spent, as many contractors have not commenced work even though contracts have been awarded, adding that the Agency also released N2.5billion to the Nigerian Maritime University, Okerenkoko, Delta State.
Dakuku told the Committee that the Agency was working seriously to ensure the review of existing maritime laws in the country, to meet contemporary industry demand, and disclosed that very soon executive bills on Maritime law amendments would be sent to the National Assembly.
In her remarks before the exercise went into closed door, Chairman of the Committee, Lynda Ikpeazu (PDP, Anambara), commended the Agency for exceeding its targeted contribution to the Consolidated Revenue Fund, and assured of the Committee’s support to enable it realise its statutory mandate.
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