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Ministry proposes N748m budget for marine transport

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Ministry proposes N748m budget for marine transport

Rotimi Amaechi

Aminat Isah 

Federal Ministry of Transportation has proposed a total capital budget of N748 million for the marine sector and overhead of  N358 million  for the whole sectors of the ministry.

Minister of Transportation, Mr Chibuike Ameachi, disclosed this on Monday when he presented the ministry’s  2020  budget before the National Assembly Joint Committee on Marine Transport  in Abuja.

Amaechi said  the aims and objectives of the  budget proposal was to make significant progress and consolidate on the gains and achievements  recorded in the supervisory functions of the ministry  in the immediate past years.

He listed the areas where success had been recorded to include port infrastructure development, maritime administration, human capacity, security and safety of waters and effective technical and economic regulations of the sector.

Ministry proposes N748m budget for marine transport

He also revealed that a  total capital appropriation for marine transport sector for 2019 was N411million out of which N259 million representing 63 .03 per cent had  been released to date,noting that the entire amount had been utilised as at October 16.

The minister added that N508 million was appropriated for overhead expenditure  for the entire Ministries of  Transportation and Aviation.

He said  N190million had been  released  representing 37.50 per cent,adding that N185 million of the released amount representing 97.07 per cent had been expended as at Oct 9 by both ministries.

Earlier in his opening remarks, chairman of the Joint Committee. Senator Danjuma Goje (APC Gombe Central), said the maritime sector plays a pivotal role in the continuous prosperity and development of Nigerian economy.

He said the committee would continuously engage the agencies to ensure tangible implementation of approved budget, adding that it would also identify the challenges of the agencies that requires legislative supports.

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