NIMASA Beats Target, Remits N16b to Revenue Fund

  • NIMASA Beats Target, Remits N16b to Revenue Fund

The Nigerian Maritime Administration and Safety Agency (NIMASA) exceeded target in the first 10 months, according to Peterside Dakuku, the Director-General.

The Director-General, who made the disclosure in Abuja on Tuesday, said the agency remitted N16 billion to the Consolidated Revenue Fund in 10 months, N4 billion more than its N12 billion target.

He said, “As of October 31, we had contributed N16bn into the Consolidated Revenue Fund. We have since increased our contribution and in that contribution, we have exceeded our budget target.”

Dakuku attributed the strong result to a series of measures put in place agency to enforce laws, monitor vessels, increased debt recoveries and security surveillance.

“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 pay systems. We have also commenced surveillance system. We have also commenced effective debt recovery programme”.

Dakuku explained that the agency disbursed N2.5 billion to the Nigerian Maritime University, Okerenkoko, Delta State.

A total of N83.49 billion or 74 percent of the N110.84 billion targeted revenue for the year 2019 has been realised so far, while N20 billion has been spent out of the N28 billion appropriated for the mandatory Maritime Fund.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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