OVERVIEW OF: 7 Things You Should Know As A Nigerian About The 2021 Budget Presented By President Buhari
These are seven takeaways from the from President Muhammadu Buhari’s 2021 budget presentation at the National Assembly.
1. Tax Expenditure statement for 2021 to be published. It will contain tax exemption, incentives and rebates. It’s the first time the document will be published in the country.
2. Medium Term Development plan 2021-2025 to replace Economic Recovery and Growth plan 2017-2020.
3. All Federal staff not captured under the IPPIS scheme will no longer collect salaries as they will be regarded as ghost workers. Members of the Academic Staff Union of Universities (ASUU) are opposed to the IPPIS platform being used to pay their salaries and have refused to enrol on it.
4. Buhari identify revenue generation as a major challenge of government. He wants lawmakers to examine revenue sources and expenditure.
5. Over 800 kilometres of roads for construction across the country under the tax rebate and incentive.
6.Ibadan-Kano rail line for completion. Port Harcourt to Maiduguri rail project and Lagos to Calabar rail lines also on the card.
7. Government to establish five Science and Technology Colleges to boost science and technological education.