The Minister of Transportation, Hon. Rotimi Amaechi has proposed the total sum of N205,161,882,492 as Captain budget for the year 2021 ongoing projects.
Amaechi, making his presentation before the Joint Committee of the Senate and House of Representatives on Land and Marine Transport said that out of the N205billion, land transport has N204billion while Marine transport has a total of N845million with overhead cost of N358million for 2021.
According to him, the total Capital Appropriation of the ministry for 2020 is N70,365,081,808, Land has N69,667,177,564, Marine N697,904,244 out of which N36,018,702,122 representing 51.49 percent has been released to date with Land having N35,928,905,544.77 and Marine with N89,796,577.50 has been utilized as at November 2, 2020.
He said the sum of N245,494,182.42 was appropriated for overhead expenditure out of which N176,926,909.26 was released, the sum of N157,956,153.18 of the released amount was expended as at Oct 28, 2020.
“The ministry is proposing a total capital budget of N205,161,882,492 with Land transport estimates is N204,316,793,527, Marine transport estimates N845,088,965 with overhead of N358,799,999 in the 2021 budget which is before you for consideration.
” The aims and objectives of these proposal are to make significant progress on all ongoing projects and to complete and deliver modern railway services that would provide an efficient and cost effective alternative transport system for economic growth and creation of job opportunities for the citizenry.”
