…Says COVID-19 lockdown, #EndSARS protest affected tax drive in 2020
…As Reps query increase in recurrent budget, revenue deficit
By Levinus Nwabughiogu
Chairman, Federal Inland Revenue Service, FIRS, Mohammed Nami, yesterday placed their revenue projection for 2021 at N5.9 trillion.
Nami made the disclosure while meeting with the House of Representatives Commitee on Finance, led by James Falake, on the Service’s 2021 budget defence and consideration of its proposed Revenue and Expenditure Estimates.
Out of the proposed figure, the chairman said that non-oil and oil components were expected to generate N4.26 trillion and N1.64 trillion respectively.
He, however, put the cost of collecting the projected revenue at N289.25 billion against the budgeted N180.76 billion in 2020 to fund the three operational expenditure heads for the year.
He said: “Out of the proposed expenditure of N289.25 billion across the three expenditure heads, the sum of N147.08 billion and…
Source: Vanguard Newspaper
