Business & Finance

NIMASA Remits Over N42b To Federation Account


The Nigerian Maritime Administration and Safety Agency (NIMASA), says it has remitted over  N42 billion into the Federation Account and Federal Government special projects.

Briefing the Senate Committee on MarineTransport in Lagos yesterday, its  Acting Director-General, Pastor Haruna Baba Jauro, said the money was remitted by the agency between 2011 and 2015.

In the breakdown of the remittances, the agncy explained that N450million was remitted in 2011 while  N6, 441, 383, 583,  587 was paid in 2012. In 2013, N13, 833,431,883 was remitted while N9,732,349,682 and N11,770,978,562 were remitted in  2014 and 2015 respectively.

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Jauo said all the remittances added up to a total of N42, 278,143,714.99.

He added that $39,025,017 and N4,985,000,000 operating surplus for last year were also remitted to the Federation Account.

The statutory revenue disbursement of the agency, according to Jauro, include 25 per cent maritime fund and five per cent development for Maritime Academy, Oron.

He also told the committee that over N51billion Cabotage Fund domiciled with NIMASA to promote the development of indigenous commercial shipping capacity in international and coastal trade is safe.

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