Reps receive Customs, FIRS 2021 budget reports

Reps receive Customs, FIRS 2021 budget reports

concession of seaports

…consolidate bills on social investment programme

By Levinus Nwabughiogu-Abuja

House of Representatives yesterday received the reports of 2021 budgets for both the Nigerian Customs Service, NCS and the Federal Inland Revenue Service FIRS.

While the chairman, House Committee on Customs, Hon. Leke Abejide presented that of Customs, the chairman, Committee on Finance, Hon. James Faleke laid that of the FIRS.

Similarly, the House also consolidated two bills seeking to provide a legal framework for the establishment of national social investment Programmes for the assistance and empowerment of the poor and vulnerable in Nigeria.

Presenting the Customs report, Abejide said the budget of the agency for the 2021 fiscal year stood above N1trillion.

He said: “That the House do receive the Report of Committee on Customs and Excise on the issue from the Statutory Revenue Fund of the Nigeria Customs Service the total sum of N1, 678, 715, 061, 014 .00 (One Trillion, Six Hundred and Seventy–Eight Billion, Seven Hundred and Fifteen Million, Sixty–One Thousand, Fourteen Naira) only, the Nigeria Customs Service expected Revenue from the 7% collection and 60% from the comprehensive Import Suspension Scheme (CISS) is the sum of N 257, 183, 671, 694. 71 (Two Hundred and Fifty–Seven Billion, One Hundred and Eighty–Three Million, Six Hundred and Seventy–One Thousand, Six Hundred and Ninety–Four Naira, Seventy–One Kobo) only out of which N99, 719, 722, 681. 71 (Ninety–Nine Billion, Seven Hundred and Nineteen Million, Seven Hundred and Twenty–Two Thousand, Six Hundred and Eighty–One Naira, Seventy–One Kobo) only, is for Personnel Cost, while the sum of N19, 530, 769, 000. 00 (Nineteen Billion, Five Hundred and Thirty Million, Seven Hundred and Sixty–Nine Thousand Naira) only is for Overhead Cost and the sum of N137, 933, 270, 013.00 (One Hundred and Thirty–Seven Billion, Nine Hundred and Thirty–Three Million, Two Hundred and Seventy Thousand, Thirteen Naira) only is for Capital Cost of the Nigeria Customs Service for the year ending 31 December 2021.”

Also read: Why we signed agreement with FIRS on Telcos Transactions – Danbatta

Similarly, Hon. Faleke said that FIRS stood over N216 billion.

“That the House do receive the Report of Committee on Finance on the Issue from the Statutory Revenue Fund of the Federal Inland Revenue Service (FIRS) the total sum of N 216, 646, 579, 231. 00 (Two Hundred and Sixteen Billion, Six Hundred and Forty–Six Million, Five Hundred and Seventy–Nine Thousand, Two Hundred and Thirty–One Naira) only, out of which the sum of N107, 521, 496, 984. 00 (One Hundred and Seven Billion, Five Hundred and Twenty–One Million, Four and Ninety–Six Thousand, Nine Hundred and Eighty–Four Naira) only is for Personnel Cost, while the sum of N56, 469, 218, 415, .00 (Fifty–Six Billion, Four Hundred and Sixty–Nine Million, Two Hundred and Eighteen Thousand, Four Hundred and Fifteen Naira) only is for Over Head Cost, and the sum of N 52, 655, 863, 832. 00 (Fifty–Two Billion, Six Hundred and Fifty – Five Million, Eight Hundred and Sixty–Three Thousand, Eight Hundred and Thirty–Two Naira) only is for Capital Project of the Federal Inland Revenue Service (FIRS) for the year ending 31 December 2021”, he said.

Meanwhile, the two bills consolidated were “A Bill for an Act to Provide a Legal Framework for Establishment of National Social Investment Programmes for the Assistance and Empowerment of Poor and Vulnerable in Nigeria; and to Establish the National Social Investment Programmes Coordination Office within the Federal Ministry Responsible for Social Development to Manage the Implementation of the Programmes; and for Related Matters (HB. 1153) sponsored by the speaker, Femi Gbajabiamila, his deputy, Hon. Ahmed Idris and 9 Others”, and “A Bill for an Act to Establish National Social Investments Trust Fund to Alleviate Poverty among Vulnerable Nigerian Citizens through Targeted Programmes for the Aged, Infirm, Unemployed and Students; and for Related Matters (HB.907) sponsored by Hon. Mansur Manu Soro.

Vanguard News Nigeria 

The post Reps receive Customs, FIRS 2021 budget reports appeared first on Vanguard News.



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