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By Philip Nwosu
The Nigerian Navy said it has started working towards a new way it can generate income to take care of its personnel other than relying solely on the defence budget.
Chief of Policy and Plans of the Nigerian Navy, Rear Admiral Joseph Akpan, who made the disclosure in Lagos at the opening of the Chief of Account and Budget Seminar, said the service has to look inward to see how it can generate funds to support naval personnel.
According to Admiral Akpan, who was representing the Chief of Naval Staff, Vice Admiral Emmanuel Ogalla, this direction of the Navy was necessitated by the lean purse of the service, especially as the budget was no longer enough to support its personnel.
He said the Navy has taken seriously the issue of personnel welfare and within the first one year of the Chief of Naval Staff the service has taken measures to address personnel welfare, adding that this is the way the force is ramping up support for the President and Commander-in-Chief in his renewed hope agenda.
He said the theme of the seminar, “Optimising Nigerian Navy Non-Public Fund Opportunities in a Dynamic Economic Environment: The Nigerian Navy Personnel in Focus,” aptly reflects the Navy’s commitment to this cause. By optimizing non-public funds, the Nigerian Navy aims to boost the welfare and wellbeing of its personnel, facilitating the retention of skilled staff and enhancing operational effectiveness.
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He said improving living standards through various initiatives was critical to protecting Nigeria’s maritime environment and ensuring the economic prosperity of the country, emphasizing the importance of schemes like the Navy Insurance, car refurbishing loan, and welfare loan programmes, managed by the Directorate of Non-Public Funds, in achieving these goals.
The Chief of Naval Staff said, to ensure the success of these initiatives, transparency, accountability and continuous evaluation were important.
The two-day seminar encouraged participants to brainstorm on critical policy issues related to non-public fund opportunities and personnel welfare, aiming to improve operational efficiency. Rear Admiral Yusuf praised President Bola Tinubu’s administration for prioritizing the welfare of armed forces personnel, both serving and retired.
The President recently approved a 20 percent increase in pension rates for pensioners, effective January 2024, among other welfare packages.
“We appreciate the President for his guidance and unwavering support to the service,” said Rear Admiral Yusuf. “We remain committed to carrying out our statutory mandate for economic prosperity and poverty eradication, in line with the Renewed Hope Nigeria initiative.”
In just one year, the Nigerian Navy has extended support to vulnerable groups, including widows and orphans, demonstrating its commitment to the welfare of its personnel and the broader community.
