By Miriam Humbe
Further to the Open Government Partnership principles endorsed by the Federal Government of Nigeria (FGN), Nigerian Investment Promotion Commission (NIPC) has published its Appropriation and Internally Generated Revenue (IGR) Income and Expenditure Budget proposals for the 2020 fiscal year on its website.
The proposals were published within a week of the 2020 FGN Budget proposal being submitted to the National Assembly, in compliance with the directive of the Honourable Minister of Finance, Budget and National Planning for all MDAs to publish their 2020 budget proposals on their websites.
Information obtained from the NIPC newsletter said that this release was made to advise the general public of the publication of the budget proposals.
The Appropriation budget is based on the envelope provided to NIPC by the Ministry of Industry, Trade and Investment (MITI), while the IGR budget is based on projected fees to be charged by NIPC from its operations. As required by the NIPC Act, the IGR proposals were approved by the Governing Council of NIPC, before they were sent to the Honourable Minister of Industry, Trade and Investment for final approval on 20 September 2019.
‘The management and staff of NIPC continue to work on delivering the NIPC mandate through a more proactive style of investment promotion, and remain committed to instituting a culture of proactive disclosure of all required information, better corporate governance, compliance and transparency.”