You are here
Home > HEADLINES > AMCON payment will increase Lagos revenue to N573m —NIWA

AMCON payment will increase Lagos revenue to N573m —NIWA

Please follow and like us:

  • 0
  • Share

Waterways, National Inland Waterways AuthorityThe National Inland Waterways Authority (NIWA) has disclosed that its annual revenue position is expected to rise to N573 million upon the receipt of anticipated payment due from the Asset Management Company of Nigeria (AMCON).

The General Manager, Lagos Area Office of NIWA, Mr Muazu Sambo, who made this disclosure during the recent visit of the agency’s Managing Director, Senator Olorunnimbe Adeleke Mamora, said that the quantum revenue growth over the years is as a result of the commitment and dedication of the area office.

“It is largely due to commitment, dedication to duty and a spirit of resilience in the face of numerous challenges that have made it possible for the area office to record quantum revenue growths over the years.

ALSO READ: Buhari asks Senate to confirm Izuwah, DG ICRC

“Our major revenue sources are derived from use of right of way, dredging/reclamation, registration of water crafts/vessels, and pipelines/utility crossings.

“From a mere N5.6 million in 1999, our collection had risen to a peak of N132 million in 2007, then declining to N100 million by 2010, the year I call the ‘locust year’.

“However, through stakeholders’ interactive fora, NIWA Police enforcement of the Federal High Court judgment and active resistance to the impunity of Lagos State Waterways Authority (LASWA) officials, our revenue began to witness a steady improvement from the N100 million in 2010 to N472 million by 2017.

“Our revenue is currently standing at N412,425,485.03 (as at 29/10/18), and we expect it to rise to N573 million as soon as we receive our anticipated payment due from AMCON,” the GM stated.

Sambo, however, stated that the Lagos Area Office has been challenged with the recovery of a current debt profile of about a quarter billion naira (N250m) being outstanding default in payments by various individuals/organizations due to inadequate lawful means of doing so.

He added that there is inadequate CSR projects, especially those that would impact clients and water operators more positively.

The GM made a special appeal to the MD to critically look at reviewing its monthly imprest in view of the fact that Lagos has the largest jurisdiction of all NIWA’s

Responding, the NIWA Managing Director urged the Lagos Area manager to put in more efforts and justify its position as the biggest operational area of NIWA.



The post AMCON payment will increase Lagos revenue to N573m —NIWA appeared first on Tribune.

Facebook Comments

Please follow and like us:

  • 0
  • Share

Leave a Reply