How Govt. Plans To Fund 2017 Budget
Nigeria, last week signed into law an ambitious 7.44 trillion Naira 2017 budget.
But the money needed to implement it successfully is running short, in excess of 2 trillion naira.
Now, the government wants to raise these monies by collecting more taxes from citizens.
They are also asking Nigerian customs to bring in more money from their operations, which means importers may have to pay more money to bring in goods into the country.
The minister of budget and national planning, Udoma Udo Udoma said the government targets these sources for more revenue for the budget.
Udoma said the government is trying very hard to find the money to make sure the budget is funded.
"We are challenging our revenue generating agencies, particularly the (Federal Inland Revenue Service) FIRS and customs, to improve their inefficiencies and broaden their reach so as to achieve the targets set for them in the 2017 Budget," said Udoma.
The minister also said the government has asked the Niger Delta Militants to avoid a repeat of the attacks on oil facilities that disrupted oil production last year leading to drastic fall in government revenue.