The Federal Government is revising the non-oil revenue projections, including various tax and customs receipts.
What this means is that the ₦8.5trillion target set for the Federal Inland Revenue Service (FIRS) will be slashed at the end of the review.
Minister of Finance, Budget and National Planning Mrs Zainab Ahmed made this known during her Coronavirus pandemic (COVID 19) stimulus presentation in Abuja.
Already, the Director-General of the Budget Office of the Federation Mr Ben Akabueze has commenced work on the review.
According to Zainab Ahmed, “the 2020 Appropriation Act was based on certain fiscal assumptions, which we have been compelled to revisit given the emerging economic realities.”
In this regard, the Budget Office she said: “is currently working on a revised 2020 – 2022 Medium-Term Expenditure Framework/Fiscal Strategy Paper (MTEF/FSP) as well as an Amendment to the 2020 Appropriation Act.”
The proposed Amended Budget…