The 2020 Finance Bill has been approved by the Federal Executive Council on Wednesday, The PUNCH reports.

The decision was taken at a meeting of the council presided over by the President, Major General Muhammadu Buhari.

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 gave an assurance that the bill will not lead to an increase in tax because the situation in the country does not warrant an increase in taxes.

“This is not the time to increase taxes,” she said.