The Nigerian government has explained how it plans to source funds for the N10.33 trillion 2020 budget.
The proposals include a budget deficit of about N2.17 trillion, representing about 1.52 per cent of the Gross Domestic Product . With crude oil price benchmark put at about $57 per barrel and oil production of about 2.18 million barrels per day, Mrs Ahmed said the government hopes to realise about N2.62 trillion from oil exports, about 28 per cent lower than the N3.69 trillion estimated in 2019.
Mrs Ahmed said revenue earning from the top ten government-owned enterprises , excluding the Nigerian National Petroleum Corporation, is expected to increase by about N34.8 billion, or four per cent in 2020, from N955.4 billion to about N990.1 billion.
Source: News Formal (newsformal.com)
By killing us with bogus tax right
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Finance Minister Breaks Down Proposed 2020 Budget, Puts Total Revenue At N8.15trnFinance Minister Breaks Down Proposed 2020 Budget, Puts Total Revenue At N8.15trn
Source: channelstv - 🏆 7. / 63 Read more »
Fuel subsidy to gulp N450bn in 2020 - Finance minister – Daily TrustMrs Zainab Ahmed, the Minister for Finance, Budget and National Planning says under-recovery of Premium Motor Spirit (PMS), fuel subsidy... After 5year,nor federal refineries working.What a joke? NekkaSmith So?....why is she reporting? without a political will to take action is tantamount to empty populist rheteoric fuel scam or subsidy
Source: Daily Trust - 🏆 13. / 51 Read more »
Nigeria budgets N450 billion for petrol subsidy in 2020 - MinisterThe federal government has said it will spend about N450 billion next year on fuel subsidy.This is despite the commitment by the Nigerian National... The subsidy the old man said was a scam during GEJ government? Now we know who the real scammer is. Next levels of swindling and impoverishing Nigerians is here. FinMinNigeria and cenbank must come up with a plan for MBuhari so this archaic business modeling by NNPCgroup is modernized. NNPC Refineries don't have competition they could have been refining crude oil from Gabon, Chad and Ghana. But for where Allah ya sine Whatever amount budgeted and spent on petroleum subsidy is money spent on inefficiency and corruption...period.
Source: PremiumTimesng - 🏆 3. / 78 Read more »
Nigeria's Fuel Subsidy Will Cost Government N450 Billion In 2020 -Finance Minister | Sahara ReportersPresident Muhammadu Buhari had on Tuesday presented a budget proposal of N10.33 trillion to a joint session of the National Assembly, putting the government’s estimated revenue in 2020 at N8.155 trillion, comprising oil revenue of N2.64 trillion, non-oil tax revenues of N1.81 trillion and other revenue of N3.7 trillion. FinMinNigeria MBuhari Can you imagine that? The subsidy they used to increase fuel price by claiming they've taken it off? MBuhari is a bloody criminal tbh. This deceitful dirty pig is worst than Jonathan. They are all thieves. FinMinNigeria MBuhari So we still have subsidy? It ok! Back to whatever I was doing.......
Source: SaharaReporters - 🏆 9. / 63 Read more »
UK government sets date for first post-Brexit budget | The Guardian Nigeria News - Nigeria and World NewsBritain's government is planning a first post-Brexit budget for November 6, one week after it expects the country to have left the European Union, finance minister Sajid Javid announced Monday. Very interesting, the British preparing for everything while my govt signs an African free trade and open border agreement, then turn back to shut its borders As if the smugglers use the ACTUAL borders !!
Source: GuardianNigeria - 🏆 1. / 94 Read more »
Nigeria First, Says Nigerian Finance Minister On Border Closure | Sahara ReportersNigeria First, Says Nigerian FinMinNigeria Minister On Border Closure | Sahara Reporters “It has to be Nigeria first and we have to protect our own industries because some of our neighbours have been flagrantly abusing commitments that we...' READ MORE: FinMinNigeria You can only protect what you have. Do we have industries/companies that can solve out problems? FinMinNigeria And what policy told you when your borders are open with restrictions will make your industries not protected? All your policies are doom. FinMinNigeria Those abusing your borders are the Fulanis.
Source: SaharaReporters - 🏆 9. / 63 Read more »