NIMASA remits N16bn revenue to federation account in 10 months

Abiola Seun |

The Nigerian Maritime Administration and Safety Agency has remitted a total sum of N16bn to the Consolidated Revenue Fund, exceeding the budgeted sum by N4bn.

The Director-General, NIMASA, Peterside Dakuku, who made this known in Abuja yesterday, 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 made this known when he appeared before the House of Representatives Committee on Maritime Safety, Education and Administration for the appraisal of the 2019 budget of NIMASA.

The NIMASA boss said 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.

Giving the breakdown of 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. This, he said, was due to the many contractors who had not commenced work even though contracts have been awarded.

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

Responding to questions from members of the committee, Peterside stated that NIMASA was working seriously to ensure the review of existing maritime laws in the country to meet up contemporary demands of the industry.

He said very soon, executive bills on maritime laws amendment would be sent to the National Assembly.