The House of Representatives has expressed displeasure over the failure of the management of the Nigeria Shippers Council to commence implementation of the International Cargo Tracking Note (ICTN).
Chairman, House Committee on Shipping Services, Hon. Abdussamad Dasuki expressed the concern on Tuesday in Abuja, during the Council’s 2023 budget performance and 2024 budget defence, said the delayed implementation of the ICTN is costing Nigeria huge revenue loss.
He said it was expected, with the legislative backing, for the ICTN “to take effect almost immediately, and here we are at the tail end of the first quarter of the year, we are yet to contribute anything.
“Why haven’t we started implementing the ICTN. What are we waiting for? Why are we allowing Nigeria to lose so much revenue, and not doing anything?”
While responding, NSC Executive Secretary, Mr. Pius Akutah however assured the committee that plans for the take-off have been concluded.
He affirmed that “the benefits are so much. I remember our commitment to implementing the ICTN in the first quarter of 2024, even today, we had a meeting at the Federal Ministry of Marine and Blue Economy to discuss extensively the way forward for the implementation of the ICTN.
“It is important that we commence implementation of the ICTN not only because it is an economy my facilitation tool, but it is also a revenue generation platform for this country, it’s one good that will be coming to Nigeria through ICTN, and besides that, it will also tackle some of the security challenges that we face as a country today, because we will know from the onset, what King of cargoes are coming to the country, and then, it will also ease business and then reduce the time spent, and bring about multi-efficiency.
“These are all that the Ministry of Marine and Blue Economy is projecting for the year 2024, but as I said, we have no reason whatsoever not to commence, just because of some technical issues that we are dealing with in-house. Very soon, we will be off and running with the ICTN and mostly for now, where this government have decided to implement the Oronsaye panel’s report, it is important for Nigeria Shippers Council to implement the ICTN as a revenue generation means so that we can be able to fund our budget because that’s the recommendation of that panel regarding the Nigeria Shippers Council.”
Akutah had earlier briefed the committee on the 2024 budget proposal of the Council, and its 2023 budget performance.
According to him, the Council is proposing a total budget of N28.618 billion for the 2024 fiscal year, a figure he said represented about a 161 per cent increase from the over N10 billion of its 2023 budget, explaining further that the surplus for the year 2023 stood at N22.657 billion, pointing that “but for this year (2024), the surplus is projected N47,347,630,345.41.
“We projected a revenue of N104,875,322,396.62 for the 2024 fiscal year in comparison with a budget of N44,597,508,757.85 for 2023 which represents an increase of 135 per cent. As I said earlier, this increase in revenue projection is based on approval for the implementation of the International Cargo Tracking Note.”
He said of the proposed budget of the Council for 2024, Personnel cost is projected at N10.393 billion, Capital at N18.515 billion and overhead at N28.618 billion.
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