President Buhari has presented N13 trillion as the proposed 2021 budget
– The president identified revenue generation as a major challenge of government
– Buhari urged federal lawmakers to examine revenue sources and expenditure
President Muhammadu Buhari presented the proposed 2021 budget of N13 trillion to the senators and members of the House of Representatives at the National Assembly (NASS) chamber in Abuja on Thursday, October 8.
Legit.ng reports that the Senate president, Ahmed Lawan, had revealed on Wednesday, October 7, that President Buhari would arrive at the floor of the chamber for the presentation of the proposed budget on Thursday, October 8.
President Buhari emphasised that only federal workers that have been captured by the Integrated Personnel Payroll Information System (IPPIS) platform will continue to receive salaries.
Here are some crucial points made by the president during the budget presentation:
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 the 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 identifies revenue generation as a major challenge of government. He wants lawmakers to examine revenue sources and expenditure.
5. Over 800 kilometers 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.