NIMASA targets N109bn revenue in 2018

Nigerian Maritime Administration and Safety Agency (NIMASA) is targeting N109 billion as revenue in 2018.

Speaking on the 2018 budget before the Senate Committee on Marine Transport in Abuja, the Director General of Peterside stated that the agency was optimistic it will generate N109 billion as revenue in 2018.

He noted that the total estimate was achievable based on the number of initiatives the agency had put in place to block revenue leakages.

In his words: “N109 billion is an estimate, we are workings toward accomplishing that, this revenue includes revenue from Cabotage Vessel Financing Fund (CVFF), that I have no access too.

“It also includes our mandatory contributions to Maritime Academy of Nigeria, which is not in our disposal; but we’re optimistic that with the numbers of initiatives we have put in place.

“We have blocked leakages, we have done everything humanly possible to reduce our expenses to make it achievable.”

He, however, told the committee that every adjustment and amendment had been made on the budget as directed.

The NIMASA boss said that a total of N18.7 billion was remitted in 2017, which was the 80 per cent of the total revenue for 2017.

Peterside further stated that N2 billion was also contributed to Nigeria Inland Waterways Authority (NIWA) for the dredging of the lower Niger River, which was approved by the presidency.

According to him, the agency hopes to complete the reforms it had started by making the waterways safer this year than it used to be as well as investing in the security of waterways.

He said that the agency intended to build offices in the eastern zone, central zone and also concentrate on capacity building, by training seafarers and scaling up its operations in 2018.