Covid-19: FG Reduces N252bn Privatisation Target, N1.5tn Customs Revenue - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (J.T)
April 1, 2020
TheFederal Government has announced that it had cut its revenue target from privatisationby 50 per cent.
TheMinister of Finance, Zainab Ahmed, made the announcement in a meeting betweenthe executive arm of government and the leadership of the National Assembly inAbuja.
Themeeting, according to a statement by the Senate President media office, wasmeant to review the 2020 budget and Medium Term Expenditure Framework againstthe background of the impact of the coronavirus pandemic on global economy.
Shealso announced the reduction in revenue expected from the Nigeria Customs Servicefrom 1.5 rillion naira to 943 billion naira.
Thefinance minister confirmed a review of the budget oil benchmark from 57 dollarsto 30 dollars per barrel.
Shesaid this was done to prepare for the worst case scenario as well as insulatethe Nigeria economy against any form of unexpected crisis.
Ahmedalso told the leadership of the National Assembly that budgeted revenues forthe Nigeria Customs Service had been reduced from N1.5tn to 943 billion due toanticipated reduction in trade volumes.