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Navy proposes N182.612 billion as 2021 budget



——gets  vote of confidence from House Committee
Chinazor Megbolu
The House of Representatives Committee on Nigerian Navy has passed a vote of confidence on the federal security agency for good performance of the 2020 budget.
The Chairman of the House Committee, Mr. Yusuf Gadi, during the budget presentation by the Nigerian Navy on Friday in Abuja, said he was glad the Navy had nothing to hide.
He called on Mr. Olumide Osoba (representing APC-Ogun) to move a motion for the adoption of the 2020 budget performance of the Nigerian Navy and he did.
Gadi stated that the Committee had decided to round up its oversight function in some of the areas it could not visit as a result of  the lockdown caused by COVID-19 pandemic.
He noted that the oversight function would enable the Committee to add value to the Navy’s 2021 budget in order to enable it perform optimally.
Meanwhile, the Chief of Naval Staff, Vice Admiral Ibok-Ete Ibas, lauded the Committee for ensuring that the Navy functions optimally, adding that the Committee’s effort towards repositioning the agency was yielding desired results
Ibas noted that the Nigerian Navy had been occupied with its national policing role, stressing that it had curtailed the activities of illegal bunkering, pipeline vandals, insurgency among others.
He also averred that the Federal Government recently purchased requisite weaponry and other equipment for the Navy needed to combat criminality on the sea, which boosted the moral the officers.
Ibas, however, noted that in 2020, over N16 billion was released to cover eight projects, stressing that 75 per cent of the 2020 appropriation was released for capital projects.
Ibas pointed out that N11 billion was appropriated for overhead cost in 2020 budget, adding that only 74 per cent of the budget was released.
He, however, hinted that the Navy also generated over N884 million in 2020 as its internally generated revenue.
He stated that the agency had contributed to the country’s economic recovery.
Moreover, Ibas buttressed that the revenues were generated from stamp duty, auction of unserviceable equipment amongst others, which led to decrease of attacks on ships on the nation’s territorial waters.
Meanwhile, he added that N182. 612 billion was proposed for the 2021 fiscal year.

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