The Federal Executive Council(FEC) on Wednesday approved the 2020 Finance Bill assuring the new development will not lead to result to increase in tax tariffs.
The decision was taken at a meeting of the council presided over by the President, Major General Muhammadu Buhari (retd.).
The Minister of Finance, Budget and National Planning, Zainab Ahmed, briefed State House correspondents of the meeting’s outcome.
She said the 2020 Finance Bill was meant to support the 2021 fiscal year budget.
The minister reiterated that the bill will not lead to an increase in tax because the situation in the country does not warrant an increase in taxes.
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“This is not the time to increase taxes,” she said.
Details later…
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