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The Bill for an Act to Repeal and Re-enact the Revenue Mobilisation Allocation and Fiscal Commission Act, 2023 has passed the second reading in the National Assembly. The new law seeks to strengthen the Commission to carry out its duties of monitoring and disbursement of revenue inflows more effectively. [ 1 ]
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.
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 NEC approves the annual borrowing plan of the federal government, which specifies the amount, sources, terms, and purposes of borrowing for each fiscal year. The NEC also approves the Medium-Term Debt Management Strategy (MTDS), which is a four-year plan that outlines the objectives, targets, and strategies for managing the national debt. [23]
Fiscal policy can be distinguished from monetary policy, in that fiscal policy deals with taxation and government spending and is often administered by a government department; while monetary policy deals with the money supply, interest rates and is often administered by a country's central bank. Both fiscal and monetary policies influence a ...
Revenue, Mobilization, Allocation & Fiscal Commission; New Partnership for African Development ; Border Communities Development Agency [9] (BCDA) Federal Road Safety Corps; National Energy Council; Nigeria Atomic Energy Commission; National Hajj Commission of Nigeria (NaHCON) [10] Infrastructure Concession Regulatory Commission (ICRC)
The policy is in use in several countries around the world. [1] Such a unified structure is recommended by the IMF, as all government funds are collected in one account which could reduce borrowing costs, extend credit and improve government's fiscal policy among other benefits to government. The IMF also recommends the establishment of a legal ...
Page:1922 Constitution of Nigeria (Clifford Constitution).pdf/5 Metadata This file contains additional information, probably added from the digital camera or scanner used to create or digitize it.