{"id":27210,"date":"2021-01-01T09:01:55","date_gmt":"2021-01-01T08:01:55","guid":{"rendered":"http:\/\/thefreezonechannel.com\/?p=27210"},"modified":"2021-10-07T00:23:51","modified_gmt":"2021-10-07T00:23:51","slug":"buhari-warns-revenue-agencies-on-meeting-targets","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/buhari-warns-revenue-agencies-on-meeting-targets\/","title":{"rendered":"Buhari warns revenue agencies on meeting targets"},"content":{"rendered":"<p><strong>Anthony Areh<\/strong><\/p>\n\n\n<p>President Muhammadu Buhari has challenged Ministries, Departments and Agencies (MDAs) saddled with the responsibility of generating revenues for government to work hard to meet targets or be sanctioned.<\/p>\n\n\n<p>The President issued the warning after he signed the 2021 Appropriation Bill of N13.588 trillion and the 2020 Finance Bill into law at the State House, Abuja, on Thursday.<\/p>\n\n\n<p>He said: \u201cWe are intensifying our domestic revenue mobilisation efforts so that we can have adequate resources to fund the 2021 Budget.<\/p>\n\n\n<p>\u201cRevenue generating agencies and all MDAs must work very hard to achieve their revenue targets, control their cost-to-revenue ratios, as well as ensure prompt and full remittance of revenue collections.<\/p>\n\n\n<p>\u201cRelevant agencies are to ensure the realisation of our crude oil production and export targets. Heads of defaulting Agencies are hereby warned that they will be severely sanctioned.<\/p>\n\n\n<p>\u201cI also appeal to our fellow citizens and the business community to fulfil their tax obligations promptly.\u2019\u2019<\/p>\n\n\n<p>Buhari expressed delight that despite disruptions occasioned by the Coronavirus pandemic, 2020 Budget implementation passed previous thresholds.<\/p>\n\n\n<p>\u201cIn spite of the adverse impact of the Coronavirus pandemic on the nation\u2019s economy and government\u2019s revenues, we have made appreciable progress in the implementation of the 2020 Budget.<\/p>\n\n\n<p>\u201cAs at Dec. 2020, we had released about N1.748 trillion out of a total of the N1.962 trillion voted for the implementation of critical capital projects, representing a performance of about Eight-Nine-Point-One Percent (89.1%).<\/p>\n\n\n<p>\u201cThe overall performance of the 2020 Budget currently stands at an impressive rate of 97.7 per cent.<\/p>\n\n\n<p>\u201cThis commendable outcome underscores the importance of our efforts, together with the Legislature, to return to the discipline of a January-to-December fiscal year,\u2019\u2019 he added.<\/p>\n\n\n<p>He announced that the Minister of Finance, Budget and National Planning would provide further details on the 2020 Budget\u2019s performance, in due course.<\/p>\n\n\n<p>The president commended the National Assembly for completing \u201cthe important appropriation process in good time.\u201d<\/p>\n\n\n<p>According to him, the passage of the 2021 Federal Budget before the commencement of the 2021 fiscal year is in confirmation of his administration\u2019s resolve to maintain a predictable January-December fiscal year, as provided for, in the Constitution.<\/p>\n\n\n<p>Speaking to State House correspondents shortly after the president signed the budget, Senate President Ahmad Lawan assured Nigerians that the National Assembly would approve any loan request made by the president in as much as it would be for the overall interest of the nation.<\/p>\n\n\n<p>He said that the National Assembly would continue to partner with other arms of government toward providing dividends of democracy to the citizens.<\/p>\n\n\n<p>\u201cLet me thank the Almighty God for making it possible for the National Assembly to work on the 2021 Appropriation Bill and pass it before the end of December.<\/p>\n\n\n<p>\u201cAlongside the Appropriation Bill 2021, we also passed the 2020 Finance Bill amendment.<\/p>\n\n\n<p>\u201cToday, the President signed both the Finance Bill 2020 which is now an Act as well as the Appropriation Bill 2021 which is also now Appropriation Act 2021.<\/p>\n\n\n<p>\u201cIt is very important that the members of the National Assembly, Senators, members of the House of Representatives are commended for keeping this January to December budget cycle alive.\u2019\u2019<\/p>\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-27210\" data-postid=\"27210\" class=\"themify_builder_content themify_builder_content-27210 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>Anthony Areh President Muhammadu Buhari has challenged Ministries, Departments and Agencies (MDAs) saddled with the responsibility of generating revenues for government to work hard to meet targets or be sanctioned. The President issued the warning after he signed the 2021 Appropriation Bill of N13.588 trillion and the 2020 Finance Bill into law at the State [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3441,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[125],"tags":[304],"class_list":["post-27210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-money","tag-revenue","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Buhari warns revenue agencies on meeting targets - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/buhari-warns-revenue-agencies-on-meeting-targets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buhari warns revenue agencies on meeting targets - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"Anthony Areh President Muhammadu Buhari has challenged Ministries, Departments and Agencies (MDAs) saddled with the responsibility of generating revenues for government to work hard to meet targets or be sanctioned. 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