Budget defence: NIWA proposes N7.362 billion for 2021, set to increase revenue
The National Inland Waterways Authority (NIWA) has proposed the sum of N7.362 billion budget estimate for 2021.
Unveiling its budget at the defence on Tuesday before the Senate Committee on Marine Transport, the Managing Director and Chief Executive Officer (MD/CEO), Dr George Moghalu, decried the late delay in capital releases of 2020 budget, saying that, it posed serious threat to the agency’s drive in actualising its projects.
Moghalu explained that ‘delayed releases’ of funds left some projects uncompleted which have affected their revenue generation as well.
According to him, NIWA would have a better deal in 2021, if the proposal of N7.362 billion submitted to the National Assembly was approved.
Explaining the budget performance of NIWA for the 2020, he said, “out of N6,349,834,548.00 with a recurrent estimate of N877,941,048.00 and Capital expenditure of N5,471,893,500.00”, about 82.7% was released.
He stressed that the 2021 budget proposal was guided by the Federal Government’s policy that all uncompleted projects should be completed, which he said, would enhance revenue generation for the agency.
“Though the financial performance stood at 76.3% of total capital budget, actual project implementation performance for the period was very poor owing to delay in capital releases ocassioned by COVID-19 pandemic that posed a threat to the global economy.
“This scenario informed the focus of the Authority in its year 2021 proposal which is essentially to the completion of all on-going projects and enhance revenue generation.
“I therefore, conclude that in line with the Economic Recovery and Growth Plan of President Muhammadu Buhari, the Authority reiterates it’s determination now more than ever to upscale the development of Inland Water Transportation in Nigeria.
Speaking after the hearing, Senate Committee on Marine Transport, Senator Danjuma Goje further gave clarification that the amount of N7.362 billion was arrived by NIWA to complete projects that have pended in the last five years.
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