Finance Minister Breaks Down Proposed 2020 Budget, Puts Total Revenue At N8.15trn

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Finance minister breaks down proposed 2020 budget, puts total revenue at N8trn

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has broken down the proposed 2020 budget, putting the total revenue at 8.15trillion naira.The honorable minister made the disclosure on Monday during a presentation aimed at discussing the details of the 2020 budget proposal presented to the National Assembly by President Muhammadu Buhari.This is the first time in a long time that this presentation is done early in trying to get back to the Jan-Dec budget cycle.

She announced that the Federal Government is planning several key reforms including the Strategic Revenue Growth Initiative. According to her, the proposal is accompanied by a Finance Bill which has five Strategic Objectives, they are:2. Reforming domestic tax laws to align with global best practices;4. Supporting micro,small&medium-sized businesses in line with Ease of Doing business reforms.Mrs.

And also Incentivising private sector investment essential to complement governments’ development plans, policies & programs; iv. Enhancing our social investment programs to further deepen their impact on marginalized/most vulnerable Nigerians. In attendance at the presentation was the Minister of Information, Lai Mohammed, Minister of State for Transportation, Gbemisola Saraki, Minister of State for Health, Adeleke Mamora, among other government officials.

 

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