By: Joy Odor/Abuja
Federal Ministry of Transportation has proposed a total capital budget of N748 million for the marine sector and overhead of N358 million for the whole sectors of the ministry.
Minister of Transportation, Mr Chibuike Ameachi, disclosed this yesterday when he presented the ministry’s 2020 budget before the National Assembly Joint Committee on Marine Transport in Abuja.
Amaechi said the aims and objectives of the budget proposal was to make significant progress and consolidate on the gains and achievements recorded in the supervisory functions of the ministry in the immediate past years.
He listed the areas where success had been recorded to include port infrastructure development, maritime administration, human capacity, security and safety of waters and effective technical and economic regulations of the sector.
He also revealed that a total capital appropriation for marine transport sector for 2019 was N411million out of which N259 million representing 63 .03 per cent had been released to date,noting that the entire amount had been utilised as at October 16.
The minister added that N508 million was appropriated for overhead expenditure for the entire Ministries of Transportation and Aviation.
He said N190million had been released representing 37.50 per cent,adding that N185 million of the released amount representing 97.07 per cent had been expended as at Oct 9 by both ministries.
Earlier in his opening remarks, chairman of the Joint Committee. Senator Danjuma Goje (APC Gombe Central), said the maritime sector plays a pivotal role in the continuous prosperity and development of Nigerian economy.
He said the committee would continuously engage the agencies to ensure tangible implementation of approved budget, adding that it would also identify the challenges of the agencies that requires legislative supports.