In line with the Open Government Partnership principles endorsed by the Federal Government of Nigeria, 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 Federal Government 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 online.
The Appropriation budget is based on the expenditure envelope provided to NIPC by the Ministry of Industry, Trade and Investment (MITI), whilst the IGR budget is based on projected fees to be generated from NIPC's operations. As required under the NIPC Act, the IGR proposals were approved by the NIPC Governing Council before being forwarded to the Honourable Minister of Industry, Trade and Investment for final approval on 20 September 2019.
The management and staff of NIPC continue to pursue the Commission's mandate through a more proactive approach to investment promotion, and remain committed to instilling a culture of proactive disclosure, better corporate governance, compliance, and transparency. The proposals are available on the NIPC website under the proactive disclosures section.
