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The House of Representatives on Wednesday approved President Muhammadu Buhari’s request to obtain $7.031 billion and £995million external loan.
Breakdown of the external loan approved showed that the sum of $5.513 billion is to finance Federal Government’s revised 2020 budget deficit, £995 million to improve food security while $1.5 billion is for state governments facing fiscal challenges arising from the COVID-19 pandemic.
According to the report, the House had in June 2020 approved the request to obtain the $5.513 billion to finance the proposed revised 2020 budget deficit, but “due to the absence of adequate information on the second and third terms on Mr President’s request, the Committee in agreement with the Hon Minister, Federal Ministry of Finance, Budget & National Planning deferred consideration of the external borrowing request relating to funding of priority projects of the Federal Government to be captured in the budget estimates for 2021 and faciliti
Reps receive report on N1 679trn customs budget for 2021 tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.
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Reps receive Customs, FIRS 2021 budget reports
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By Levinus Nwabughiogu-Abuja
House of Representatives yesterday received the reports of 2021 budgets for both the Nigerian Customs Service, NCS and the Federal Inland Revenue Service FIRS.
While the chairman, House Committee on Customs, Hon. Leke Abejide presented that of Customs, the chairman, Committee on Finance, Hon. James Faleke laid that of the FIRS.
Similarly, the House also consolidated two bills seeking to provide a legal framework for the establishment of national social investment Programmes for the assistance and empowerment of the poor and vulnerable in Nigeria.
Presenting the Customs report, Abejide said the budget of the agency for the 2021 fiscal year stood above N1trillion.