The National Inland Waterways Authority (NIWA), has proposed N9.054 billion as revenue to be remitted into the Consolidated Revenue Fund (CFR) from the total targetted revenue of N34.389 billion in the 2025 fiscal year.
The N9.05 billion 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 percent increase on N2.625 billion remitted into CFR in 2024.
Oyebamiji stated this in Abuja on Wednesday during his presentation to the National Assembly joint Committee on Marine Transport .
He said the N9.054 billion projected to be remitted into CFR in 2025 comprise of 50 percent IGR remittance which is N2.756billion, 40 percent of Port Development Levy (PDL) remittance which is N5.775 billion from the projected N28.875 billion .
Others according to him, are proceeds from lease of properties which is estimated at N496.894million and Tender Documentation estimated to be N25.629 million, all totalling N9.054 billion .
“The projected astronomical increase on revenue to be remitted by NIWA into the Consolidated Revenue Fund in 2025 , largely arose from the estimated N28.875 billion Port Development Levy in the fiscal year as against N13.219 billion realised in 2024,” he said .
Apparently satisfied with his presentation the Joint Committee Chaired by Senator Wasiu Eshilokun ( APC Lagos Central ), urged the Managing Director of NIWA, to move from 91 percent budget performance it recorded in 2024 to 100 percent in 2025 .
Senator Eshinlokun said the 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 .
