President Tinubu Slashes IGR Deductions Of Govt Agencies From 50% To 20%

Friday, 16 August 2024 15:27

President Tinubu Slashes IGR Deductions Of Govt Agencies From 50% To 20%

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President Bola Ahmed Tinubu has approved the direct deduction from the Internally Generated Revenue (IGR) of government agencies to be reduced from 50% to 20%.

The move is part of efforts to ease the financial burden on the government agencies and encourage financial autonomy.

Based on the fresh directive, the leaders of several unions in the aviation sector, who had earlier threatened to embark on a strike, have opened discussions with the Managing Director of the Federal Airports Authority of Nigeria (FAAN) to deliberate on their stance and the implications of this policy change.

The outcome of these discussions could have significant ramifications for the operational and financial strategies of affected agencies across the nation.

Details later…