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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 ...
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 Federal Ministry of Industry, Trade and Investment (FMITI) is a branch of the federal government of Nigeria responsible for creating wealth and employment, reducing poverty, and stimulating and diversifying the economy. [1]
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]
A senior civil servant acts as Permanent Secretary of the minister, assisting the politically appointed Minister of Finance, who is a member of the President's cabinet.. The Federal Ministry of Finance is led by the Honourable Minister of Finance and Coordinating Minister of the Economy, who serves as the chief executive officer.
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.
ICRC Building Abuja. ICRC was established in 2008 under the Infrastructure Concession Regulatory Commission (establishment, etc.) Act, 2005 [1] to regulate the Public-Private Partnership (PPP) endeavours of the Federal government aimed at addressing Nigeria’s physical infrastructure deficit which hampers economic development.
The National Sugar Development Council (NSDC) is a government agency operating under the Federal Ministry of Industry, Trade, and Investment in Nigeria. [1] It was established by Decree 88 of 1993, now an Act of the National Assembly, Act Cap. No. 78 LFN of 2004, Amended in 2015, to oversee and facilitate the development of the sugar industry, aiming for self-sufficiency in sugar production ...