By Abbanobi-Eku Onyekachi
The National Inland Waterways Authority (NIWA) has set an ambitious target of increasing its remittance to the Consolidated Revenue Fund (CFR) by 200% in the 2025 fiscal year. According to NIWA’s Managing Director and Chief Executive Officer, Bola Oyebamiji, the authority proposes to remit N9.054 billion to the CFR, a significant increase from the N2.625 billion remitted in 2024.
Oyebamiji made this announcement during his presentation to the National Assembly joint Committee on Marine Transport in Abuja on Wednesday.
He broke down the projected remittance, stating that 50% of the amount, totaling N2.756 billion, would come from Internally Generated Revenue (IGR). Additionally, 40% of the Port Development Levy (PDL) remittance, amounting to N5.775 billion, would be sourced from the projected N28.875 billion.
NIWA has proposed a total revenue of N34.389 billion for the 2025 fiscal year, which is a significant development in the authority’s efforts to increase its revenue generation and contribute to the federal government’s coffers.