The Nigerian Shippers’ Council (NSC) has remitted N408 million to the federal government between January to September 2016. This was even as the Council recorded 35 per cent performance in the implementation of the 2016 budget between the same periods.

Speaking recently, the Executive Secretary of NSC, Barrister Hassan Bello, stated that the Council has recorded 23 per cent performance in the capital expenditure within the period under review.

He expressed the hope that with some of the contracts awarded recently, the Council would achieve 81 per cent performance or even more before the end of the year.

According to him, “Now for the executive summary of the budget performance from January to September, we have revenue target which is N14 billion, we have realised N5 billion, the balance is still N9 billion.

“So, 35 per cent is the performance. For expenditure, we have what we have explained and the representative percentage.

“We capital expenditure of 23 per cent but we hope this will increased tremendously because we have just recently awarded contracts after going through the procedure. We are hoping Distinguished Senators to reach 79 per cent to 81per cent of our budget performance or even more.

“So, remittances to the government treasury are N408 million, total expenditure is N4.7 billion. Realization of additional one per cent internally generated revenue (IGR) spending for the Council making a total of two per cent.”

Bello further averred that of the N87 million internally generated revenue (IGR), the council had achieved 92 per cent of it while 71 per cent of the import duty which he said was paid in arrears even as he revealed that certain quotas were yet to be paid.

“By the time they pay, we are going to have 100 per cent and that is the more reason why we want you to note that the prompt collection of this revenue is very important to us and we are going to present to you details of the total collection,” he said.

 

Source: Today.ng

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