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…proposes N34 389billion as total revenue
By Musa Baba Adamu
The National Inland Waterways Authority ( NIWA), has proposed N9.054billion as revenue to be renitted into the Consolidated Revenue Fund ( CFR) from the total targetted revenue of N34.389billion in the 2025 fiscal year .
The N9.05billion targeted as revenue to be remitted into CFR in 2025 by NIWA , according to its Managing Director and Chief Executive Officer , Bola Oyebamiji , is about 200% increase on N2.625billion remitted into CFR in 2024 .
Oyebamiji stated these in Abuja on Wednesday during his presentation to the National Assembly joint Committee on Marine Transport .
He said the N9.054billion projected to be remitted into CFR in 2025 comprise of 50% IGR remittance which is N2.756billion , 40% of Port Development Levy ( PDL) remittance which is N5.775billion from the projected N28.875bikkion .
Others according to him , are proceeds from lease of properties which is estimated at N496.894million and Tender Documentation estimated to be N25.629million , all totalling N9 054billion .
“ The projected astronomical increase on revenue to be remitted by NIWA into the Consolidated Revenue Fund in 2025 , largely arose from the estimated N28.875billion Port Development Levy in the fiscal year as against N13.219billion realised in 2024 “, he said .
Apparently satisfied with his presentation the Joint Committee Chaired by Senator Wasiu Eshilokun ( APC Lagos Centeal ) , urged the Managing Director of NIWA , to move from 91% budget performance it recorded in 2024 to 100% in 2025 .
“ Your projected IGR and remittance into the Consolidated Revenue Fund when compared to those of 2024 , are encouraging but this committee believes that NIWA can even surpass its projections in the fiscal year .
“ That is what we want to hear at the end of the year because the country needs more revenues and remittances to fund its yearly budget “, he said .Senator Sani Musa in particular , said : “FIRS should Work with the N25trillion projected revenue set for it in 2025 . It is achievable and even surpassable “.
