2025 : NIWA proposes N34 389billion as total revenue

Iyojo Ameh

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 .