The Minister of Transportation, Rotimi Amaechi has proposed N205 billion as capital budget for 2021 to enable the ministry make significant progress on all its ongoing projects.
Amaechi in a statement during his presentation before the Joint Committee of the Senate and House of Representatives on Land and Marine Transport in Abuja explained that out of the N205 billion, land transport is about N204 million, marine transport N845 million with an overhead cost of about N358 million for the year 2021.
“The total capital appropriation of the ministry for 2020 is N70 billion, land has N69.6 billion, marine N698 million.
“Out of this sum, N36 billion representing 51.49 per cent has been released to date with land having about N35 billion and marine with N90 million has been utilised as at Nov.2. 2020.
“In addition, the sum of N245 million was appropriated for overhead expenditure, out of which N177 million was released, the sum of N158 million of the released amount was expended as at Oct.28, 2020.
“The ministry is proposing a total capital budget of N205 billion with land transport estimates of N204 billion, marine transport estimates N845 million and overhead of N359 million in the 2021 budget, which is before you for consideration.
“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 will provide an efficient and cost effective alternative transport system for economic growth and job creation opportunities for the citizenrynan”.
