shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » Federal Government Commends NIMASA’s Revenue Performance

Federal Government Commends NIMASA’s Revenue Performance

by Joshua
September 15, 2017
in News

The Federal Government has commended the Nigerian Maritime Administration and Safety Agency (NIMASA) for its revenue performance in the past one year.

The Minister of Finance, Mrs. Kemi Adeosun who disclosed this at a workshop in Abuja on compliance with the Fiscal Responsibility (FRA) Act, noted that poor revenue performance by Ministries Departments and Agencies (MDAs) was hampering the 2017 budget implementation. She singled out NIMASA as one of the Agencies doing well in terms of revenue generation and remittances to the Federal Government’s Treasury Single Account (TSA).

This is coming on the heels of the commendations by President Muhammadu Buhari and Vice President Yemi Osinbajo who separately at various times commended the  Dr Dakuku Peterside-led management of NIMASA for their ingenuity in managing the affairs of the  maritime regulatory Agency and increasing the Agency’s contributions to the Consolidated Revenue Fund (CRF) even at the time of economic recession.

The Finance Minister noted that despite the dwindling revenue of various Government Agencies, the current management of NIMASA brought down significantly the cost of doing business otherwise called operational cost and the Agency was still able to generate more money by half year than it did in the two preceding years.

While stating that NIMASA has proven that financial prudence, accountability and transparency can lead to sustainable economic growth in Nigeria, she enjoined all other MDA’s to emulate NIMASA and plug all revenue leakages in order to allow for 100 percent implementation of the 2017 budget.

“Unlike NIMASA and the Joint Admission Matriculation Board (JAMB), some Agencies and Departments are operating in such a manner that returned minimal funds to Government. To this effect, a circular has been issued restricting allowable expenses in line with reforms occurring across government businesses, as compliance checks would be undertaken regularly to ensure that all Agencies and Departments adhere to the new requirements”, she said.

Mrs Adeosun also noted that the current Management of NIMASA has introduced processes that blocked loop holes thus increase revenue generation and subsequently improve its reputation leading to better confidence from stakeholders in the maritime sector.

Corroborating the Finance Minister’s stance, the Accountant General of the Federation (AGF), Mr. Ahmed Idris also urged other MDAs to be more creative in their revenue generation efforts so that they could meet the individual targets of Agencies and collectively meet estimated revenue to fund the 2017 budget.

The AGF noted that despite the general downturn in accruable revenue to Government due to prevailing global economic situation, the remittances to the Consolidated Revenue Fund (CRF) by NIMASA this year has been the highest by the Agency when compared to corresponding period of recent years.

“It was also the first time in recent years that NIMASA will remit huge revenue into the government coffers”, he said.

Recently, the Director General of NIMASA, Dr. Dakuku Peterside informed at a stakeholders’ forum in Lagos that in order to allow for probity and accountability, the agency has begun the automation of all its processes. This has reduced human interface in its transactions, thus improved revenue generation.

He also disclosed that the Agency had devolved more powers to its Zonal Offices to allow for early conclusion of transactions to ultimately plug revenue leakages and that NIMASA is now operating 24 hours in line with the Ease of Doing Business initiative of the Federal Government.
 
 


Related Posts

Vessels Expected At Lagos Ports As At 9th July, 2025

FG Donates 3,500 Life Jackets to Boost Waterways Safety in Ogun State

July 9, 2025
Vessels Expected At Lagos Ports As At 9th July, 2025

Dangote Commends NPA-Led OSS Committee, Donates Bus to Support Operations

July 9, 2025
Vessels Expected At Lagos Ports As At 9th July, 2025

Customs Intercepts ₦654m Worth of Undeclared Foreign Currency at Kano Airport, Hands Over Suspects to EFCC

July 9, 2025
CRFFN Dismisses Viral Court Judgement Reports, Reaffirms Regulatory Mandate over Freight Forwarders

CRFFN Dismisses Viral Court Judgement Reports, Reaffirms Regulatory Mandate over Freight Forwarders

July 8, 2025

Discussion about this post

Latest News

Vessels Expected At Lagos Ports As At 9th July, 2025

FG Donates 3,500 Life Jackets to Boost Waterways Safety in Ogun State

July 9, 2025

Dangote Commends NPA-Led OSS Committee, Donates Bus to Support Operations

Customs Intercepts ₦654m Worth of Undeclared Foreign Currency at Kano Airport, Hands Over Suspects to EFCC

Vessels Expected At Lagos Ports As At 9th July, 2025

CRFFN Dismisses Viral Court Judgement Reports, Reaffirms Regulatory Mandate over Freight Forwarders

Lagos Govt. Dismantles Illegal Checkpoints Along Badagry Expressway

Nigeria Customs Sensitises International Airline Operators on Currency Declaration

PHOTO NEWS Collaboration For Trade Facilitation

Vessels Expected At Lagos Ports As At 8th July, 2025

Nigerian Exporters Lament as Road Freight to Ghana via Benin, Togo Costs Over ₦10 Million Per Truck  

NIWA Responds to Lagos State’s Call to Halt Sand-Filling Approvals on Waterways 

Shippers’ Council Recovers Over N5.5 Million in Container Deposit Refunds, Demurrage Disputes in Q1

kindly like our Facebook page

Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert
Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert

June 30, 2025

Mrs Roseline Akinlabi, Adolescent and Youth Sexual Reproductive Health Desk Officer, Osun Primary Healthcare Board, says contraceptive pills cannot cause...

ONIONS: The Good Old Healing Vegetable

KNOW YOUR BODY PARTS: The Liver

June 16, 2025
ONIONS: The Good Old Healing Vegetable

ONIONS: The Good Old Healing Vegetable

June 16, 2025
Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025
20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025
See Mental Illness Like Other Treatable Diseases – Says Suicide Survivor

Health Facts You Didn’t Know

May 19, 2025
Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

April 28, 2025
Water And Health: The Relationship That Helps Life

Water And Health: The Relationship That Helps Life

April 28, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition