The Nigerian Senate passed the 2021 Budget containing an additional expenditure of NGN505billion (+3.84%) on 21 December 2020. President Buhari presented the 2021 Budget to the National Assembly in October 2020, and the amount for expenditure was NGN13.08 trillion. Revised total expenditure is NGN13.58 trillion, while the revenue remains unchanged at NGN7.886 trillion. Two main…
On 8 October 2020, President Mohammadu Buhari presented the 2021 Budget to the National Assembly. The estimate for expenditure is NGN13.082 trillion, while revenue is NGN7.886 trillion. The fiscal deficit is NGN5.196 trillion: an increase of 4% compared to the prior year’s figure. President Buhari also disclosed that the Honorable Minister of Finance, Budget, and…
Compliments of the season. Welcome to BRC’s monthly series on Tax Highlights in Nigeria. It’s the final edition for the year 2019. Tax events in December 2019 did not slow down despite the festive mood at fiscal year-end. Here are four (4) top events that shaped the Nigerian tax space in December 2019. President Buhari appoints Nami as…
President Muhammadu Buhari signed the 2020 Budget into law on 17 December 2019 within two months after the first presentation at the National Assembly. The 2020 Budget shows a total expenditure of ₦10.59 trillion while the total revenue is ₦8.31 trillion creating a deficit of ₦2.18 trillion. Federal Government will allocate more expenditure to provide…
On October 8, 2019, President Muhammadu Buhari presented the 2020 Budget and Finance Bill to the National Assembly for consideration and passage into law. The total revenue available to fund the 2020 budget is projected at ₦8.155 trillion (7% higher than the 2019 Budget of ₦7.59 trillion). Meanwhile, the aggregate expenditure is ₦10.33 trillion, leading…