The Minister of Transportation, Rotimi Amaechi, has defended a budget of N147,931,691,294 before the joint Committee of Senate and House of Representatives on land and Marine transport for the ministry of transportation for 2022 fiscal year.
Speaking at the defence of the budget, on Thursday, at the National Assembly in Abuja, Amaechi said the major role of the Ministry in the marine transport sector was oversight and monitoring of the implementation of government policies for the sub-sector which are largely carried out by the agencies.
“The Total Capital Appropriation of the Ministry for 2021 is N156, 611,063,048 out of which N138, 967,747,631 representing (88.73 per cent) has been released to date and N113,324,587,384 has been utilised as of October 25, 2021.
“In addition, the sum of N358,799.999 was appropriated for Overhead expenditure out of which N269, 099,999 26 was released.
“The sum of N185, 690,572.33 of the released amount was expended as of October 25, 2021,” he stated.
Amaechi said: “The Ministry is proposing a total capital budget of N147,931,691,294. And the overhead of 5358, 799,998 in the 2022 budget which is before you for consideration, the objectives of these proposals is to make significant progress on all ongoing projects and to complete and deliver modem Railway Services that will become an effective alternative transport system for economic growth for the citizenry.
“I am highly honoured to address the Joint ComnnItees of the Senate and House of Representatives on Land and Marine Transport which includes (Ports and Harbour, Inland Waterways and Marine Safely and Education), and present before you the 2021 Budget Implementation Status and our proposals for 2022 budget.
“Distinguished Senators and Honourable Members, while the expenditure of the Main Ministry, Nigerian Institute of Transport Technology (NITT) Zaria and Nigeria Railway Corporation (NRC) are fully funded from the National Budget, The National Inland Waterways Authority (NIWA), Maritime Academy of Nigeria Oron and CRFFN derive their funding from both the National Budget as well as their internally Generated Revenues (IGRs).
“For the purpose of emphasis. I wish to state that three of the agencies under the ministry, namely NPA, NIMASA and NSC are fully self-funding and make reasonable remittances to the Consolidated Revenue Fund (CRF/TSA),” he stated.
The Minister further explained that “let me use this opportunity to further emphasise to the esteemed Committee that the Ministry as part of its mandate has continued to pursue the implementation of Government policies in the Land Transport Sub-sector in Nigeria.”
Amaechi said the Ministry was also paying attention to “issues relating to the ECOWAS protocol, and conventions entered into in respect of the Sub-sector.
“We have focused majorly on completing the ongoing National Freight Offices at Jibya and Idiroko in addition to other Land Transport Prefects and Wth your support, the capturing of all these projects and programs as a proposal. before you in the 2022 Budget will move us further towards reaching the goals of the administration in developing this sub-sector,” he stated.
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Transportation minister defends N147.9bn budget for 2022 fiscal year
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