The Federal Government is contemplating the possibility of returning the N27.5 trillion 2024 Appropriation Bill to the National Assembly for review, according to the Minister of Finance and Coordinating Minister of Economy, Wale Edun.
The announcement was made during a session with the Senate Committee on Finance led by Senator Sani Musa (APC, Niger East) in Abuja.
Minister Edun informed the committee that if there is a substantial increase in revenue due to the remarkable improvement in the economy, the government may consider increasing the size of the budget.
He expressed optimism about the encouraging revenue performance, attributing it to ongoing fiscal policy and tax reform initiatives.
The Minister said, “The revenue performance was encouraging, and it is expected to continue. There is a fiscal policy and tax reform committee that is already at work. It is meant to provide fundamental change together with digitalization and greater efficiency in collection because it is revenue-to-debt that can allow us to increase this budget.
“If we have a solid revenue performance, we will come back, and I’m sure Mr President will authorize the process to return to the National Assembly to appropriate extra revenue. That is a situation we are all looking forward to.”
RoyalTimes gathered that he emphasized that if the solid revenue performance continues, the government will seek authorization from President Bola Tinubu to return to the National Assembly for the appropriation of additional revenue.
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