The Senate has approved N238bn as the budget of the NCS for the 2020 fiscal year.
The approval of the amount followed the presentation of the report of the Senate Committee on Customs, Tariff and Excise by its Chairman, Senator Francis Ailimikhena.It also included Overhead Cost of N15.95bn, representing 6.70 per cent and capital expenditure of N123.59bn, representing 51.89 per cent of the total amount, according to the committee.
He expressed concern over the two per cent VAT shares collected by Customs in addition to funding from the federation account. Senator Gabriel Suswan also said the Alimikhena committee’s report was not comprehensive enough, adding that the NCS budget may be rejected “if certain explanations were not provided”.
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