Kwara State 2020 Budget: Good Intentions, Faulty Assumptions

Total revenue as at October 2019 was N85.12 billion which shows that revenue underperformed by 34.69% when compared with N130.38 billion projected revenue for 2019. Total expenditure as at October 2019 on the other hand, was N77.37 billion which also underperformed by 40.66% when compared with the projected expenditure of N130.38 billion for 2019.

Nigeria Has Both Debt and Revenue Problem

This research article aims to provide answers to the differences in analysts opinions on Nigeria having a debt problem or revenue problem by providing trend analysis of debt servicing in Nigeria, as well as compare debt services with capital expenditure over the period. It concluded by examining the budgeted revenue and actual revenue in 2018 to come about a conclusion on whether Nigeria has a debt problem or revenue problem.

VAT 101: Meaning of VAT Registration Threshold as Announced by President Buhari During 2020 Budget Presentation

Currently, section 8 of the VAT law requires a taxable person (an individual, body of individuals, companies, etc) to register for VAT with FIRS and charge VAT at 5% on the supply of their goods or services to customers. The VAT charged must be paid to FIRS together with a VAT form duly filled and submitted on a monthly basis. Failure to comply carries financial penalties.