Home of Nigeria Latest News and Updated Information
tag-iconFG , Obiano

Refund us N10bn spent on road federal roads – Obiano begs FG

user_icon Posted by:
Tiamiyu Saheed Oluwatosin
views-icon Views:
like-icon Page likes:
dislike-icon Page dislikes:
calendar-icon Posted on: 2019-10-03 16:45:27
share-icon Share(s):

The Anambra Governor, Willie Obiano, has begged the federal government to refund him N10billion spent on the rehabilitation of federal roads in the state.

Obiano said his 2020 budget estimate of N137bn would be partly funded by the money, which it hopes that the Federal Government would reimburse him soon.

The governor, who stated this in his budget breakdown for the 2020 fiscal year, said, “We adopted the following macroeconomic assumptions for the budget estimates.

“We expect to receive N10billion as reimbursements from Federal Government for works done on Federal roads out of the amount owed to the state.

DO YOU KNOW >>> Wole Soyinka told to apologise immediately over statement on Buhari

READ ALSO >>> FG approves N78Billion for Rivers government

“A crude oil price benchmark of US555,bbl and an average daily production of 2.18m barrels average in line with the Federal Government’s Medium Term Expenditure Framework/projections, translating to a projected annual FAAC of N43.7bn as against the 2018 figure of N4Obn.

Obiano added, “Value Added Tax revenue projection is pegged at N15.5bn annually, which is a 46% increase from the 2019 figure of N10.6bn.

“Internally Generate Revenues are projected at N2.5bn monthly (N30.0bn annually) compared with the current actual run rate of N1.48bn monthly (N17.8bn annually).

“We plan to achieve this by optimizing our IGR windows through continuous enumeration and automation as well as strengthening our enforcement initiatives in the State and sustaining the growth of our tax database.”

READ ALSO >>> Obiano orders hospitals in Anambra to provide Isolation Centres, considers shutting markets - COVID-19

BREAKING >>> Wole Soyinka told to apologise immediately over statement on Buhari

For All Nigeria Past Questions Visit www.QUESTION.NG

Kindly share this post on different Social Media below


NOTE: User comments in this section are, as the name implies, provided by users of this website. The question.ng team is not responsible for, nor do they endorse, any of the information provided here.