FIRS budgets N11bn for long service awards, N5bn for vehicles

The Federal Inland Revenue Service (FIRS) has proposed N356.95 billion to the federal government as budget for 2024.

This is contained in the 2024 government-owned entities’ (GOE’s) budget proposal seen by TheCable on Friday.

According to the proposed budget of N356,951,441,648, the agency plans to spend N11,070,000,000 on long service awards, N13,617,615,408 on welfare packages as well as N4,599,450,000 on the purchase of computers while networking/communications or information technology infrastructure takes N3,715,524,465.10.

Also, the revenue agency budgeted N5,550,000,000 to purchase motor vehicles and N1,350,000,000.00 to maintain vehicles and transport equipment.

On power supply, FIRS will spend N2,480,840,000 on purchasing power generating set, N2,700,000,000 on fueling plant/generator, and N1,260,000,000.00 on electricity charges in one year.

FIRS also earmarked N15,222,000,000 on local grants and contributions to government-owned companies and N180,000,000 as grants to foreign international organisations.

Also included in the budget is N10,200,415,000 earmarked for local (N7,500,415,000) and international (N2,700,000,000) training.

In the budget, FIRS plans to spend N4,500,000,000.00 on local travel and transport, while international travel and transport is expected to gulp N1,350,000,000.00.

On Saturday, the two arms of the national assembly had passed the 2024 appropriation bill, increasing its size from N27.5 trillion proposed by President Bola Tinubu to N28.7 trillion.

The budget has N1.7 trillion as statutory transfers, N8.7 trillion was allocated as recurrent expenditure, and N9.9 trillion as capital expenditure.

Meanwhile, Abubakar Bichi, chairman of the house of representatives committee on appropriations, said the budget was increased by N1.27 trillion after GOEs pledged to increase their revenue next year.