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    MarketForces Africa » MarketNews » Keyamo Assures NSIB Adequate Fund to Operate

    Keyamo Assures NSIB Adequate Fund to Operate

    Ogochukwu NdubuisiBy Ogochukwu NdubuisiJuly 27, 2024 MarketNews No Comments3 Mins Read
    Keyamo Assures NSIB Adequate Fund to Operate
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    Keyamo Assures NSIB Adequate Fund to Operate

    The Minister of Aviation and Aerospace Development, Mr Festus Keyamo (SAN), has promised the Nigerian Safety Investigation Bureau (NSIB) of improved funding to carry out its operations. Keyamo gave the assurance at the re-opening of the NSIB Office in Lagos on Friday.

    The minister said that demolition of the former NSIB Office was needless and  greatly affected operations of the bureau. He commended the Director-General of NSIB  for efforts to ensure that the bureau attained its current height.

    He said: “I can tell you that he has put in a lot of efforts. At  present, we have something working behind the scenes. Very soon, I think we will see some changes, and you will have your funds. It may not be all of it, but you will have some of your funds with which to work.”

    The Director-General of NSIB, Capt. Alex Badeh, said that he met unfinished tasks when he assumed office. Badeh said that  limited funds and bureaucratic bottlenecks negatively affected the operations of the bureau.

    Despite these challenges,  we approached our task with determination and a can-do attitude. I must express my deepest gratitude to the minister whose unwavering commitment and tireless efforts have led us here today.

    “When I approached him and presented this project to him, he promptly facilitated the necessary funding from the ministry’s operating budget, making the vision of this new office a reality.

    “His leadership and vision have been instrumental in enhancing our capabilities and ensuring the safety and security of our skies,” he said. Badeh, however, said that there was still much work to do.

    “We continue to face significant challenges in fulfilling our mandate, notably securing the necessary funding to support our operations.

    “Non-compliance with the NSIB Establishment Act of 2022 by the Nigeria Maritime Administration and Safety Agency (NIMASA) and the Nigerian Railway Corporation (NRC) in remitting the statutorily required percentages of their revenues to NSIB has severely impacted our ability to conduct comprehensive multi-modal accident investigations.

    “The NSIB Establishment Act of 2022 stipulates that NIMASA should remit three per cent of the gross freight from international cargo, while the NRC is required to contribute five per cent of ticket sales and cargo charges.

    “This financial shortfall not only limits our operational capabilities but also hinders our growth and effectiveness in safeguarding Nigerians’ lives.

    “We implore the Federal Government to further support the critical role NSIB plays in ensuring the safety and security of our nation’s transportation networks,” he urged. According to him, the importance of public safety cannot be over-stated.

    “We earnestly appeal for increased financial support to enable us to effectively fulfil our mandate to be able to conduct thorough investigations, enhance safety standards and contribute meaningfully to advancing transportation safety across Nigeria,” he explained.

    The minister, in company with the Chairman, House od Representative Committee on Aerospace Technology, Mr Abiodun Akinlade and other top government officials, toured the NSIB  Office. Tinubu Approves Management Unit for Health Sector Renewal Investment Initiative

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    Ogochukwu Ndubuisi
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    Ogochukwu Ndubuisi is an editorial content strategist and financial news writer at MarketForces Africa, covering a broad range of topics including Nigeria's equity markets, infrastructure development, energy, government policy, corporate finance, and digital economy.With over 2,400 published articles on MarketForces Africa, Ogochi brings depth and consistency to the publication's daily news coverage.Her reporting spans Nigerian Exchange Group market movements, Lagos State infrastructure projects, and federal government economic policies, oil and gas developments, and emerging sectors shaping Nigeria's economic landscape.She also covers Africa-wide stories, including East African market indices, continental investment trends, and cross-border economic developments.Ogochi works closely with MarketForces Africa's editorial and corporate communications teams to deliver accurate, timely, and well-researched content to the publication's professional readership.Ogochukwu Ndubuisi is based in Lagos, Nigeria.

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