L
LequteMan
Guest
Nigeria's Minister of Finance, Dr. Ngozi Okonjo-Iweala, speaking on the recent developments in the economy, admitted that revenues have been substantially impacted by the fall in oil price, and that the Federal Government has been working out strategies to close budget gap through increasing non-oil revenue as well as cutting costs.
“The Federal Government generated additional N110 billion from taxes last year but is now working really hard from tax administration measures to generate additional N160 billion”, she said according to BusinessDay.
The surcharges on luxury items is expected to yield about N10.56 billion in 2015.
The minister disclosed that following detailed work, waivers and exemptions will now save about N18 billion and not N36 billion, as announced earlier and that letters have also gone to companies involved to pay those monies from abuse of this policy.
“So, we have really been working and the monies will start coming in by April and that will help us to fill the gap,” she told the journalists
#Nigeria #Okonjo-Iweala
“The Federal Government generated additional N110 billion from taxes last year but is now working really hard from tax administration measures to generate additional N160 billion”, she said according to BusinessDay.
The surcharges on luxury items is expected to yield about N10.56 billion in 2015.
The minister disclosed that following detailed work, waivers and exemptions will now save about N18 billion and not N36 billion, as announced earlier and that letters have also gone to companies involved to pay those monies from abuse of this policy.
“So, we have really been working and the monies will start coming in by April and that will help us to fill the gap,” she told the journalists
#Nigeria #Okonjo-Iweala
