Published On: Tue, Oct 10th, 2017

INVESTIGATION: FIRS Earmarks N5.8 Billion For Fuel, Gifts, Welfare In 2017

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By Nuel Suji – Latest investigation has revealed that a whooping sum of N5.2billion is to be spent by the Federal Inland Revenue Service (FIRS) on generator fuel, vehicle fuel, welfare packages and corporate gifts in the 2017 budget.

This is contained in the N152billion budget approved by the Senate for the agency in the budget.

According to the document obtained by our correspondent, the agency is going to spend N120 million on sporting activities, N1.3billion on welfare packages, N2.5billion as corporate outfit grant, while N700million is earmarked as reward for outstanding service.  All these items are under the overhead expenditure

Additionally, the agency budgeted N650 million on motor fuel, N750 million on refreshment and meals and N250 million on postages and courier services.

Meanwhile, the Senate has slated the Central Bank of Nigeria (CBN) and two revenue generating agencies: Nigeria Customs Services and Nigerian National Petroleum Corporation (NNPC) for proper legislative scrutiny.

The report of the Finance Committee submitted for the consideration revealed that the 2017 budget focused on the capacity to increase VAT and Non-Oil Revenue.  Principally, VAT is expected to grow from N828 billion to N1.8 trillion is over 125 percent increase.

“As at August 2017, FIRS has recorded an increase of N224 billion over its performance. So far it has collected N1.782 trillion representing an increase of 14 percent in 2017 when compared with collection performance for the corresponding period in 2016. The Service has therefore achieved 72.93 percent of the half year target of N2.44 trillion,” the report stated.

The Committee in the report, observed that an increase of about N20 billion in the personnel expenditure proposal of FIRS.

The Committee also observed an increase of about N5 billion overhead in 2017 compared to last year’s budget.

It further observed that the capital expenditure of the service includes ongoing projects and new projects which are to be executed during the 2017 financial year.

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