2021 budget: Transport ministry to gulp N205bn
Minister of Transportation, Mr. Chibuike Rotimi Amaechi, has disclosed that the ministry has proposed the total sum of N205,161,882,492 as capital budget for the year 2021.
Amaechi, who stated this at the National Assembly in Abuja, during the budget defence session with the Joint Committee of the Senate and House of Representatives on Land and Marine Transportation, explained that the projects would be financed through budgetary and counterpart funding.
"The ministry is proposing a total capital budget of N205,161,882,492 with Land transport estimates is N204,316,793,527, Marine transport estimates N845,088,965 with overhead of N358,799,999 in the 2021 budget which is before you for consideration.
"In addition, the sum of N245,494,182.42 was appropriated for overhead expenditure out of which N176,926,909.26 was released, the sum of N157,956,153.18 of the released amount was expended as at Oct 28, 2020.
He said that out of the N205billion, land transport has N204billion while Marine transport has a total of N845million with overhead cost of N358million for 2021.
The minister further explained that "The aims and objectives of these proposals are to make significant progress on all ongoing projects and to complete and deliver modern railway services that would provide an efficient and cost effective alternative transport system for economic growth and creation of job opportunities for the citizenry.
"The total Capital Appropriation of the ministry for 2020 is N70,365,081,808, Land has N69,667,177,564, Marine N697,904,244 out of which N36,018,702,122 representing 51.49 percent has been released to date with Land having N35,928,905,544.77 and Marine with N89,796,577.50 has been utilized as at November 2, 2020."
The ministry is focused majorly on completing the ongoing National Freight Offices at Illela, Jibiya and Idiroko in addition to other Land transport projects in 2021.
Amaechi said that the budget proposal has presented amounts required for completion of some of the projects by year 2021 while others may span up to 2022.Amechi stated.