President Muhammadu Buhari on Tuesday presented the 2020 budget proposal to a joint session of the National Assembly.
Buhari presented a budget of N10.33 trillion for the 2020 fiscal year.
Speaking on the budget estimates, Buhari revealed that the nation’s Gross Domestic Product has grown from 1.93 percent in 2018 to 2.02 percent in the first half of 2019 and the external reserves rose from $23bn in October 2016 to $42bn in Sept 2019.
The president promised that his government will raise the threshold for VAT registration to N25m turnover per annum, to bring relief to small(est) businesses.
See photos of the 2020 budget presentation: