The Senate has given its stamp of approval to the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) while concurrently initiating an investigation into tax waivers from 2015 until now. A directive was issued, emphasizing that waivers should only be granted if directly associated with non-governmental\/non-profit organizations.<\/p>\n
Expressing concerns about the misuse of waivers, Senator Sani Musa, Chairman of the Joint Senate Committees on Finance, Appropriations, National Planning, and Foreign Debt, highlighted the need for stringent conditions before approval. He cited instances where individuals continuously benefited from waivers without contributing meaningfully to the nation, stating, “We cannot continue to talk of waiver while we kill our local manufacturers. What we have today are cartels, who are not giving back to Nigeria. We will take the bull by the horn.”<\/p>\n
In the Senate’s report, it was revealed that President Bola Ahmed Tinubu plans to borrow N7.8 trillion to fund the 2024 budget of N26 trillion, with N8.2 trillion earmarked for debt services. The report also disclosed the Federal government’s projection of a reduction in inflation from 27.33% to 21.4% in 2024.<\/p>\n
Senator Sani Musa stressed the significance of the inquiry, stating, “We have lost so much through this waiver. We cannot sit down and say that we will keep losing.”<\/p>\n","protected":false},"excerpt":{"rendered":"
The Senate has given its stamp of approval to the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) while concurrently initiating an investigation into tax waivers from 2015 until now. A directive was issued, emphasizing that waivers should only be granted if directly associated with non-governmental\/non-profit organizations. Expressing concerns about the misuse […]<\/p>\n","protected":false},"author":14,"featured_media":7652,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-7566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/7566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=7566"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/7566\/revisions"}],"predecessor-version":[{"id":7674,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/7566\/revisions\/7674"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/7652"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=7566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=7566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=7566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}