President Muhammadu Buhari has signed the Thirteen-Point- Five- Eight-Eight trillion Naira (N13.588 trillion) 2021 Appropriation Bill and the 2020 Finance Bill into law, warns revenue generating agencies to work hard and meet their targets.
Speaking in Abuja on Thursday, the President said:
“We are intensifying our domestic revenue mobilization efforts so that we can have adequate resources to fund the 2021 Budget.
“Revenue Generating Agencies, and indeed all Ministries, Departments and Government-Owned Enterprises, must work very hard to achieve their revenue targets, control their cost-to-revenue ratios, as well as ensure prompt and full remittance of revenue collections.”
President Buhari added: “Relevant Agencies are to ensure the realization of our crude oil production and export targets.
“Heads of defaulting Agencies are hereby warned that they will be severely sanctioned. I also appeal to our fellow citizens and the business community, at large, to fulfil their tax obligations promptly.”