VAT War Between FG, Rivers State Affects Bauchi Budget Proposal
The Bauchi State Government has said that the disagreement between Federal government and Rivers state over who should collect Value Added Tax (VAT) affected its projections in the budget proposal for 2022 fiscal year.
Speaking with journalists at the Bauchi Government House shortly after the State Executive Council (SEC) adopted a budget proposal on Friday, the Commissioner of Budget and Planning, Aminu Hamayo said that Governor Bala Mohammed will present the proposed budget before the Bauchi State House of Assembly next week.
He noted further that the Bauchi government will focus on completing all its projects next year rather than embarking on new ones.
VAT War Between FG, Rivers State Affects Bauchi Budget Proposal
He said: “We will look at those things that we consider critical to guide us in the budget. While It would be premature to state the amount of the budget at this stage, we considered a lot of things in arriving at our projections as to the proposed budget. We based our assumptions on the oil production benchmark at 1.9 billion barrels per day. We also assumed that the crude oil price would remain at 57 dollars per barrel.
“The fight between the Federal government and Rivers/Lagos as to who is responsible for collecting VAT was taken into consideration and that has affected our projection. We have also defined what our priorities are. Our focus is to try to complete every project that has been started. New projects will only be considered where they become absolutely necessary.”
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