We Shall Implement 2020 Budget from January 1- Finance Minister
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, Thursday said the implementation of the 2020 Budget will begin from January 1.
President Muhammadu Buhari had signed the budget into law Tuesday.
Ahmed told newsmen during the 2020 budget breakdown, said government will issue guidelines for the implementation of the budget so as to facilitate timely capital release.
She allayed fears that bank customers without Tax Identification Numbers (TIN) would be allowed to operate their accounts, adding that this would be done gradually.
She also added tht this would be after wide consultations with various stakeholders.
The timely passage of the budget, according to her will help restore the normal budgetary cycle with implementation beginning from January 1.
The federal government budgeted N10.594 trillion budget for 2020 which includes N4.493 trillion recurrent and N2.465 trillion for capital expenditure. The revenue projection is N8.42 trillion, a breakdown which includes N2.64 trillion from oil revenue, N1.81 trillion from non-oil and N3.97 trillion from other sources.
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