Senate Approves N168.8bn 2020 Budget For FIRS
The Senate on Wednesday approved the sum of N168,809,476,220 to fund the proposed Personnel, Overhead and Capital expenditure cost of the Federal Inland Revenue Service for the 2020 fiscal year.Chairman of the Committee, Senator Solomon Olamilekan Adeola while giving a summary of the 2020 budget for the FIRS said N1.56 trillion was projected for Oil revenue; N4.502 from Non-Oil revenue; N180.086 billion projected for four percent cost of Collection; N11.
The upper chamber also approved a one-off special-purpose intervention fund to the tune of N100 billion to assist the FIRS to complete its head office within 12 months; six Training Schools; 30 Prototype Tax Operations Office; Purpose-built facilities for efficient taxation of Upstream Petroleum Industry and ICT Infrastructure to identify and track digital transactions.
Meanwhile, the Senate on Wednesday also confirmed the appointment of Dr. Tella Adeniran Rahmon representing Osun State as Resident Electoral Commissioner . Also confirmed was the appointment of Engr. Usman Mahmud Hassan as Commissioner of the Revenue Mobilization Allocation and Fiscal Commission . The confirmation of both nominees followed the consideration of the reports of the Senate Committees on Independent National Electoral Commission ; and National Planning and Economic Affairs.
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