The Minister of Transportation, Mr. Rotimi Amaechi has said that all the revenue generating agencies under the ministry of transportation will fund their 2018 budgets from their internally generated revenue (IGR).
Mr. Amaechi stated this last week during the Ministry’s 2018 budget defence meeting with the House of Representatives joint committees on land transport, maritime safety and administration, ports harbors and water ways and aviation.
According to him, “while the budget for the Nigerian Pots Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA) and Nigerian Shippers Council (NSC) are to be fully funded from their internally generated revenues, those for Nigerian Inland Waterways Authority (NIWA), Maritime Academy Oron (MAN ORON) and Council for the Registration of Freight Forwarding in Nigeria (CRFFN) will derive their funding from both Internally Generated Revenue and Federal Government budgetary appropriations.”
For the aviation sector he said, the projects of the main ministry would be fully funded from the national (FGN) budget, those of the agencies like Nigeria Meteorological Agency (NIMET), Nigerian Airspace Management Agency (NAMA), the Nigeria College of Aviation Technology (NCAT), and Accident Investigation Bureau (AIB) will derive their funds from both the National (FGN) and Internally Generated Revenue (IGR) Budget, while Federal Airports Authority of Nigeria (FAAN) and Nigeria Civil Aviation Authority (NCAA) will be wholly funded from internally generated revenue (IGR).
Speaking on the budget performance for 2017, he said the total capital appropriation for land transport sector for 2017 was N152,527,730,956.00 out of which N68,7SI,698,914.00 (45.09 percent) was released to the sector. The sum of N64,962,299,98, (94.4 percent) he said has so far been expended as at March, 2018.
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