Director-General of the Nigerian Maritime Administration and Safety Agency, Peterside Dakuku, has announced that the organisation has exceeded its projected revenue, as it contributed N16bn to the consolidated revenue fund.
Disclosing the agency’s feat while giving account of the 2019 budget performance before the House of Representatives Committee on Maritime Safety, Education and Administration, the DG explained that the initial amount the agency projected to contribute to the consolidated revenue fund for 2019 was N12m.
The 133 per cent increment is sequel to a number of measures put in place by the agency such as effective monitoring of vessels, enforcement of laws, increased surveillance and debt recoveries.
Giving a breakdown of the agency’s income and expenditure, Dakuku explained that N110.84bn was budgeted as targeted revenue for 2019 out of which N 83.49bn representing 74 per cent was realised while N20bn was spent out of the N28bn allocated for the mandatory maritime fund.
Shedding light into the expenses of the agency for the 2019, N20bn was allocated for personal emolument and N15.2bn has been spent while overhead was allocated N24bn but only N12bn spent.
Impressed by the budget performance, Dakuku said, “As at October 31, we contributed N16bn to consolidated revenue fund.
"We have since increased our contribution and in that contribution we have exceeded our budget target.
"We have achieved 133 per cent of what was expected of us."
The DG further disclosed that executive bills on Maritime laws amendment would be sent to National Assembly as soon as possible.