NIMASA’s contributes N16bn to consolidated revenue fund in 2019

Nigerian Maritime Administration and Safety Agency (NIMASA) has said it contributed about N16 billion to the consolidated revenue fund, exceeding the budgeted sum of N12billion.

NIMASA DG, Dakuku Peterside who disclosed this on Tuesday while giving account of the 2019 budget performance before the House of Representatives Committee on Maritime Safety, Education and Administration, noted that the 133 percent increment followed a number of measures put in place such as effective monitoring of vessels, enforcement of laws, increased surveillance and debt recoveries.

“As at October 31, we contributed N16 billion 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,” he said.

“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.”

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 N28 billion allocated for the mandatory Maritime Fund.

According to him, N20 billion was budgeted for personal emolument against N15.2 billion spent, while overhead was allocated N24 billion but only N12 billion have been spent.

Peterside noted that capital expenditure was pegged at N18 billion with only N1.5 billion spent, as many contractors have not commenced work even though contracts have been awarded, adding that the Agency also released N2.5 billion to the Nigerian Maritime University, Okerenkoko, Delta State.

He also assured that NIMASA was working tirelessly to ensure the review of existing maritime laws in the country to meet contemporary industry demand, noting that in no distant future, executive bills on Maritime law amendments would be sent to the National Assembly.