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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 economy of Nigeria is a middle-income, mixed economy and emerging market [27] [28] with expanding manufacturing, financial, service, communications, technology, and entertainment sectors. [ 29 ] [ 30 ] It is ranked as the 53rd-largest economy in the world in terms of nominal GDP , the fourth largest in Africa and the 27th-largest in terms ...
Communications, Innovation and Digital Economy: fmcide.gov.ng/ Defence: Consists of the defence services headquarters, the Nigerian Army, the Nigerian Air Force, the Nigerian Navy, and other defence agencies and departments: defence.gov.ng/ Education: Directs education in Nigeria: education.gov.ng/ Energy: To promote sustainable energy ...
Statutorily and administratively, the FIRS has the responsibility for the assessment, collection and accounting of taxes to the Government: [9] The timely provision and publication of accurate data and annual reports to the Federal Government of Nigeria and other stakeholders to inform national economic planning, academic research, tax policy and development legislation [10]
The Office of the Secretary to the Government of the Federation (SGF), which is domiciled in the presidency, also has some agencies under it. They are: Nigerian Christian Pilgrim Commission [6] National Lottery Trust Fund [7] Nigeria National Merit Award
Other functions of the constitution include a division of power between the federal government and the states, and protection of various individual liberties of the nation's citizens. Nigerian politics takes place within a framework of a federal and presidential republic and a representative democracy , in which the president holds executive power.
In 1971, the Nigerian National Oil Corporation (NNOC) was created to handle direct commercial operational activities in the oil industry on behalf of the Federal Government. [4] However, the Department of Petroleum Resources in the Federal Ministry of Mines and Power continued to exercise statutory supervision and control of the industry.
It has recently developed a software to aid the seamless and transparent tracking and sharing of revenue for the three tiers of government. [5] In 2021, the Commission initiated dialogues with government officials and stakeholders as a prelude to modifying the revenue sharing formula in Nigeria. [ 6 ]