FIRS To Spend N2.8bn On Uniforms, N550m On Meals

105 Viewed Obiajulu Joel Nwolu 0 respond
Obiajulu Joel Nwolu

The tax body has also budgeted about N550m for refreshments and N200m for sporting activities. The FIRS, which is one of the highest revenue-generating government bodies, set aside N262.5m for security votes while N17.8bn would be spent on “miscellaneous” expenses.

The details are included in the 2022 budget proposal the agency submitted separately to the National Assembly.

Already, there are concerns over the cost of governance and the percentage of the annual budget that goes into recurrent expenditure.

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In the 2022 budget proposal the President, Major General Muhammadu Buhari (retd.), presented to the joint section of the National Assembly on October 7, a whopping N4.69tn out of the total N16.39tn budget was appropriated for personnel costs and pensions (inclusive of N617.72bn for the 63 GOEs). Also, the overhead cost would gulp N792.39bn (inclusive of N451.0 billion for the 63 GOEs).

FIRS

Owing to the nation’s scarce resources and low revenue, the Federal Government would spend N3.61tn on debt servicing while it would borrow an additional N6.25tn from domestic and external sources to fund the deficit in the budget.

Meanwhile, the total budget of the FIRS stands at N228bn, surpassing the 2022 budget of the National Assembly (N134bn) and the judiciary (N120bn).

The FIRS budget also surpasses the current 2021 budgets of Abia, Adamawa, Anambra, Bauchi, Benue, Ebonyi, Edo, Ekiti, Enugu, Gombe, Jigawa, Kano, Kebbi, Kogi, Kwara, Nasarawa, Niger, Ondo, Osun, Plateau, Sokoto, Taraba, Yobe and Zamfara states.

Source: Punch

This post was written by Obiajulu Joel Nwolu.

The views expressed here belong to the author and do not necessarily reflect our views and opinions.

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