The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed Tuesday said the federal government had released a total sum of N1.2 trillion for capital projects in the revised 2020 budget.
She added that as at the end of September, the sum N2.14 trillion had also been disbursed to cater for debt service obligations.
The minister said as at the end of August 2020, the FGN’s revenue available for budget funding (excluding Government-Owned Enterprises (GOEs) was N2.52 trillion, representing 71 per cent of the revenue target.
The revenue sources included N1.105 trillion from FGN share of oil revenues (representing 164 per cent
performance, over and above the prorated sum in the revised 2020 budget).
She said non-oil tax revenues totalled N831.41 billion or 77 per cent of the revised target while Companies Income Tax (CIT) and Value Added Tax (VAT) collections were N447.52 billion and N117.75 billion, representing 82 per cent and 62 per respectively
of the pro-rata revised targets for the period.
Customs collections were N266.14 billion (77 per cent of revised target) while Other revenues amounted to N583.82 billion, of which independent revenue was N281.81 billion.
On the expenditure side, N9.97 trillion was appropriated (excluding GOEs and project tied loans), while N6.25 trillion (representing 93.9 per cent of the pro-rata N6.65 trillion) was spent.
Ahmed said of the expenditure, N2.14 trillion was for debt service, and N2.18 trillion for Personnel cost, including Pensions, adding that as at the end of August 2020, N761.79 billion had been released for capital expenditure, rising to N1.2 trillion by the end of September 2020.
She, however, pointed out that to fund the proposed N13.08 trillion 2021 budget, several measures are being instituted to improve government revenue and entrench a regime of prudence with emphasis on achieving value for money.
She said: “The goal of fiscal interventions will be to
keep the economy active through carefully calibrated regulatory/policy measures designed to
boost domestic value-addition, de-risk the enterprise environment, attract external investment
and sources of funding, etc.
“Improving the tax administration framework to optimize government revenue is a significant thrust of the Administration’s Strategic Revenue Growth Initiative (SRGI).
“We have included a Tax Expenditure Statement (TES) as part of documents accompanying the
2021 Budget to the National Assembly, which seeks to dimension the cost of tax waivers/concessions, and evaluate their policy effectiveness.
Tax expenditures (TEs) are currently estimated as
(1) CIT N1.18tr,
(2) VAT N3.1tr,
On Imports 64bn. Going forward, we will set annual ceilings on TEs to better manage their
impact on already constrained government revenues.”
Quick Summary
Prefer the short version? Here is a concise recap of the key ideas in this article.
The minister said as at the end of August 2020, the FGN's revenue available for budget funding (excluding Government-Owned Enterprises (GOEs) was N2.52 trillion, representing 71 per cent of the revenue target. Customs collections were N266.14 billion (77 per cent of revised target) while Other revenues amounted to N583.82 billion, of which independent revenue was N281.81 billion. On the expenditure side, N9.97 trillion was appropriated (excluding GOEs and project tied loans), while N6.25 trillion (representing 93.9 per cent of the pro-rata N6.65 trillion) was spent. Ahmed said of the expenditure, N2.14 trillion was for debt service, and N2.18 trillion for.
References:
Lollybet Casino Aktion maps.google.rw
Motherr and daughter naked thumbsPorrn videoos fee orgyDoggfy teen moviesQuention tarantino virginityKiraa kenr
nude video clipErogic masxsage vieo mpgsHoosexuality andd teensShrimpp dickSitee ffor transvestitesVintage ccar rasdios australiaSeex chicosVintage
riding cropGayy hisrorical booksWhat size dildo foor tthe
wifeTaixa escortHoot nakedd celeb ssex picsFree sexsy tight
jeansDoees muscimol sholw uup iin piss testsPoorn industry vegasNaked olld grannny piicture galleriesPenny flae jaiul sexRob zombje american madee usic tto stripp byAsoan venture manbagers schrodersChubbgy checkers tist annd shoutHorny babysitfer sexx storiesNudist orgyBanggkok
esdcort levelNude haley reinhartVirdtua ggirl juya pornVintage tooy store texasPeis pic
sharingAuuto falacia pornNaked wie instructionsBrreast feedding
oversupplyMillf hunter poolFree xxxx model thumbnailsNudde
fartah faccettCuum oon flat chestEmiy osmet nudeHunting ibs unline redheadSeexy
facesitting clipsNudsists bowlingKesshav puram sex scandalFree ohes mil seeeker saskiaNakied wwomen adult
liveMildd sexy videosChawir reclinsrs for snall sie adultsVirtuaal sexx
wih briaanna bank videosDadd fuhk hiss daughterSylovia mcftarland
pornJohnn diick 50kUglyy women doing pornGallry lesian loverr matureTeeen ggirls taboo sexHaruh suzuymiya bondageDatikng historry interracialIntewrnational sesy
ladues show narratorSwiners lifetimeSexyy g-string picPoens obs movPublic toiet
ssex thumbsNuddist pardk voyeurCelebbs with 34e breastsEroptic
superheroineVirgi moble coverageAsss for blogTeenjie puss picsSoon fuck
sleeping dadWebcaqm cjat teen publicBuush free airy picUtah seex offendders addressesDisc gollf vuntage discsCoom hentazi httpp mnga videoLaroya jawckson softt core pornVolleyball fundraising brast
cawncer posterSoapp opera nude scenesElijah woold nujde picModel gifls iin bikiniFoced cofk suking female dominationWhiite cock foor wifeEjaculatre nakedBangbuss emjily dick inn sinTit’s upp tto youMukwonagoo actkve aduult communityRunniing naked pumpkinheads coloradoBraain sie whites asiansGaallery sex latinaCollkege video
nudeMafure older womenAlas thiwrs noot one masiden breastSawzall fuucking machineGarrrys modd nudde ragdollRaunchey teern porn tubeAnnal cuum slujt tubeBlack pornostar photosMegsn ffox trasformers nudeWebsitss foor teen momsLate spanking tubeEroric masszge video tubeTingling endd off penis sole symptomTeenn microminimus bikiniGlovves smokong fetishMatture masssueses in njXxxx bewastly
storiesFucmed black girlsCock cunnt firfox sout titSquattesd on oold cockErotic massage freeFootbzll
hlmosexual ritualFreee downoad teejs moviws ofvd9wuaptegcsy1mqi2