President of the Senate, Ahmad Lawan, said on Friday that the National Assembly would not allow ministers or heads of Ministries, Departments and Agencies (MDAs) of government to frustrate its determination to pass the 2020 Appropriation Bill proposals by December this year. Lawan, who gave the assurance the unveiling of the Legislative Agenda of the […]
President Muhammadu Buhari on Tuesday presented the 2020 Appropriation Bill of an estimated N10.33 trillion to a joint session of the National Assembly for consideration as the year’s budget. In the proposed budget, the President estimated that N2.14 trillion would be used for capital expenditure. N4.88 trillion for non-debt recurrent expenditure and N556.7 billion was for […]
President Muhammadu Buhari on Wednesday submitted the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the National Assembly, hinging the attainment of the economic development targets projected in the documents on improved tax revenue and other fiscal performance parameters. The President stated that that key developments of the global and domestic environments […]
Determined to correct the structural defects in Nigeria’s fiscal regime, especially the structural imbalances in oil and non-oil revenue collections, the Federal Executive Council (FEC) on Wednesday approved a hike in the nation’s Value Added Tax rate to 7.2 per cent, up from the current five per cent rate. The Minister of Finance, Budget and […]