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The agency was set up by Decree No. 49 of 1989 which was later amended by Decree 98 of 1993 and is presently RMAFC Act CAP R7 LFN 2004 under Section 153(1) of the 1999 Constitution of the Federal Republic of Nigeria. The Bill for an Act to Repeal and Re-enact the Revenue Mobilisation Allocation and Fiscal Commission Act, 2023 has passed the ...
Fiscal Responsibility Act may refer to: Tax Equity and Fiscal Responsibility Act of 1982, an Act of the 97th United States Congress; Fiscal Responsibility Act of 2007, a proposed Act of the 110th United States Congress; Fiscal Responsibility Act 2010, an Act of the United Kingdom Parliament; Fiscal Responsibility Act of 2023, an Act of the ...
Central Bank of Nigeria (CBN) Corporate Affairs Commission (CAC) Debt Management Office (DMO) Federal Inland Revenue Service (FIRS) Federal Mortgage Bank of Nigeria (FMBN) Fiscal Responsibility Commission (FRC) - defunct [3] National Bureau of Statistics (NBS) National Council on Privatisation (NCP) National Insurance Commission (NAICOM)
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 ...
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 public debt burden in Nigeria comprises two major sources: internal or domestic debt and external or foreign debt. [17] The Debt Management Office (DMO), established by the Debt Management Office (Establishment) Act, 2003, plays a crucial role in coordinating and managing the country's debt stock, both internal and external. [17]
The Debt Management Office (DMO) is a government agency established on 4 October 2000, tasked with centralizing the management of Nigeria's debt. [1] It was created in response to challenges in Nigeria's debt portfolio, which included high external and domestic debt, substantial debt service, low external reserves, and weak debt management capacity.
An Act to provide to the responsibility of the Central Government to ensure inter – generational equity in fiscal management and long-term macro-economic stability by removing fiscal impediments in the effective conduct of monetary policy and prudential debt management consistent with fiscal sustainability through limits on the Central Government borrowings, debt and deficits, greater ...