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The Nigeria Vision 20: 2020 is a perspective plan; an economic business plan intended to make Nigeria one of the top 20 economies by 2020, with a growth target of not less than $900 billion in GDP and a per capita of not less than $4,000 per annum. The three Pillars of the NV 20:2020 are i) guaranteeing the well-being and productivity of the ...
The Board of Inland Revenue was created in 1958, and the service gained autonomy with the passing of the FIRS (Establishment) Act 13 of 2007. [ 3 ] In 2003, the Federal Government of Nigeria recognized that poor service delivery in the public sector had become an urgent national issue and undertook a series of steps that lead to the entering ...
Following the second meeting between the unions and the federal government on 18 July 2024, the NLC and TUC agreed to a settlement with the federal government on a new minimum wage reform: the national minimum wage was to be set at ₦70,000, further minimum wage reviews will take place every 3 years and the federal government would invest ...
Chancellor announces biggest raft of tax hikes in any budget since 1993
Zero-based budget: This is defined as the budgetary process which requires each ministry/department to justify its entire budget in detail. It is a system of budget in which all government expenditures must be justified for each new period. [11]
In July 2024, Senator Kawu Suleiman Abdurrahman, representing Kano South, introduced a bill in the Nigerian Senate titled "Constitution of the Federal Republic of Nigeria, 1999 (Alteration) Creation of Tiga State Bill, 2024 (SB.523)". [3] The bill underwent its First Reading on July 10, 2024. [4]
He has introduced bills calling for similar tax reform since 2004, but the bills have never made it out of committee. [18] President Obama's tax reform proposals are highlighted in his administration's 2013 United States federal budget proposal and in a framework for corporate and international tax reform presented by the administration. [19]
Directs education in Nigeria: education.gov.ng/ Energy: To promote sustainable energy development in Nigeria [6] energy.gov.ng: Environment: Regulates environmental issues: environment.gov.ng/ Federal Capital Territory: Administers the Federal Capital Territory (Abuja) fcda.gov.ng/ Finance: Manages, controls and monitors federal revenues and ...