NIMASA targets N66.96bn in 2014

The Nigerian Maritime Administration and Safety Agency (NIMASA) have said that it is targeting a total of N66.96 billion revenue collection in 2014. The agency also plans to spend N97 billion this year on both recurrent and capital projects.
In addition, the agency plans to transfer N1.71 billion into the consolidated revenue fund of the Federation while it will spend N1.82 billion on capital projects.

The proposals are contained in the abridged version of the agency’s 2014 budget proposal attached to the national budget now under consideration by the National Assembly.
The budget shows that salaries of workers and overhead expenditure such as the procurement of stationery will cost the agency over N86 billion this year.

Overhead cost takes the lion’s share of N69.24 billion, while the salaries and allowances workers will claim N15 billion.
NIMASA is one of the agencies described as “big spenders,” reputed for not submitted their budgets details to the National Assembly. Others include the Nigerian National Petroleum Corporation, Central Bank of Nigeria, Nigerian Ports Authority and 27 others.

The budget of the big spenders has remained a source of conflict between the National Assembly and the Executive over the years. It would be recalled that the budget details of the agencies had delayed the debate on the 2014 budget at the House two weeks ago.
The federal government proposed to spend N4.6tn in 2014. The House of Representatives only agreed to debate the budget on the condition that the Minister of Finance, Dr. Ngozi Okonjo-Iweala, would make the details available before it would be passed.

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