Senate assures maritime sector of adequate funding
The Senate Committee on Marine Transport has acknowledged the strategic importance of the maritime sector to the economic prosperity of Nigeria.
This is as it assured the sector of adequate budgetary provisions on yearly basis.
Giving the assurance at a media chat during the weekend, the Chairman of the Committee, Senator Mohammed Danjuma Goje (APC/Gombe Central), said the continuous prosperity and development of the nation’s economy rely on the sector and other strategic ones like energy, power, agriculture and manufacturing.
“The maritime sector is very strategic for any nation blessed with it; the very reason the Senate Committee on Marine Transport and that of the House of Representatives, resolved at the recent 2020 budget defence session with the Ministry of Transportation to ensure adequate budgetary provisions for the ministry particularly, as regards maritime agencies under it.
“Aside that, the joint committee also resolved to more than ever before ensure full implementation of whatever appropriation and releases made to the relevant agencies through oversight from time to time,” he said.
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Minister of Transportation, Rotimi Chibuike Amaechi, had in the presentation of the 2020 budget proposals for the sector, said while N748 million is proposed as capital vote, N358 million is estimated for overhead costs.
He explained that the aims and objectives of the budget proposal are to make significant progress and consolidate on the gains and achievements recorded in the supervisory functions of the ministry in the immediate past years.
Amaechi listed the areas where success has 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.
