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12.08.2021 news BudgIT Asks FG to Explain Non-Receipt of ‘N437bn’ Stamp Duty Claims

Published 12th Aug, 2021

By Tola Owoyele

BudgIT Nigeria says its analysis of the 2020 Budget Implementation Report shows zero records of stamp duty payments received by the Federal Government in 2020.

The civic tech organisation further stated that it has written both the Ministry of Finance and the Office of The Accountant General of the Federation to request for the details of such payments.

In July 9, the organisation had released its 2020 budget implementation analysis that showed that the country’s total expenditure stood at N10.01tn.

The analysis also showed that nearly all FG’s salaries, overhead and capital expenditure were financed with loans and CBN’s support.

A Copy of the Letter Written to The Ministry of Finance

The analysis also revealed that in 2020, the Federal Government projected a total revenue of N5.3tn; however, the actual total revenue eventually stood at N3.42tn. This represented a 63.71% revenue performance.

A Copy of the Letter written to the OAGF

One of the flashpoints however, is the government’s claims that it received zero revenue from Stamp Duties and Domestic Recoveries, including assets and fines, despite combined projections of N437bn.

The organisation said it awaits the swift responses of the Ministry of Finance and the OAGF, after both offices had acknowledged its request letters.

Published 12th Aug, 2021

By Tola Owoyele

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