The Federal Government will spend a total of N215, 797, 393,980 through the Federal Ministry of Transportation (FMOT) in the 2016 national budget.
According to the budget, which was recently signed into law by President Muhammadu Buhari, N13,797,393,980 is earmarked as recurrent expenditure while the larger chunk of N202 billion will be spent on capital projects.
A breakdown of the recurrent expenditure shows that N12,494,680,094 will be spent on personnel while total overhead amounts to N1,302, 713,886.
The regulatory body of freight forwarders in the country, Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) is the only agency under the FMOT that has zero allocation for capital project. The council will however get N296.4million to spend on personnel and overhead.
Other agencies whose budgets were captured under the Ministry’s appropriation include the Nigerian Institute Transport Technology (NITT) N4.06billion; Nigerian Railway Corporation N4.75billion; National Inland Waterways Authority (NIWA) N4.07billion and Maritime Academy of Nigeria (MAN) Oron N1.16billion.
The others are Nigerian Civil Aviation Authority (NCAA) N6.74billion; Nigerian College of Aviaion Technology (NCAT) N5.91billion; Nigerian Meteorological Agency (NIMET) N4.36billion; Federal Airports Authority of Nigeria (FAAN) N12.43billion; Accident Investigation Bureau (AIB) N733.46million and the Nigerian Airspace Management Agency (NAMA) N4.70billion.
The budgets of the Nigerian Ports Authority (NPA) and the Nigerian Maritime Administration and Safety Agency (NIMASA) were not captured under the Ministry’s budget allocation as these agencies traditionally prepare separate budgets which they defend before the National Assembly.
Meanwhile, the FMOT budget indicates that the Ministry would spend N190.94million on travels in the course of the year.
Copyright Ships & Ports Ltd. Permission to use quotations from this article is granted subject to appropriate credit given to www.shipsandports.com.ng as the source.
