#NES24 Roundtable - Leveraging Domestic Resource Mobilisation for Sustainable Development

Proshare

Sunday, October 21, 2018   10.35AM  / By NESG, Supported by Bill & Melinda Gates Foundation 

 

Time:            2:00pm – 4:00pm

Venue:          Congress Hall, Transcorp, Abuja

 

Session Synopsis

 

Nigeria’s revenues have historically been low and overly dependent on the oil sector. The International Monetary Fund (IMF) estimates that revenue collected in 2016 across all tiers of government was only about 6% of GDP. Historically, more than 70% of those revenues have come from the oil sector while the non-oil sectors which account for more than 90% of GDP has historically contributed about 30% to revenues.

 

This limits Nigeria’s ability to credibly execute its development plans and to fund critical social sector programs in health, education and infrastructure for example. It also leaves Nigeria very vulnerable to macro-economic shocks from low oil prices.

 

The most recent fall in oil prices threw Nigeria into a fiscal crisis with spill-over effects on the economy resulting in a recession in 2016. Building a strong revenue base that is balanced between the oil and non-oil sector is therefore critical to sustainably finance Nigeria’s development programs and long term macro-economic stability.

 

The 2018-2020 Fiscal Strategy is focused on broadening revenue receipts by identifying and plugging revenue leakages, improving the efficiency and quality of capital spending, greater emphasis on critical infrastructure, rationalization of recurrent expenditure, and gradual fiscal consolidation to maintain the fiscal deficit below 3% of GDP as prescribed by the Fiscal Responsibility Act, 2007.

 

This Roundtable is a convergence of a range of expert perspectives, research findings, analytics and diagnostics to provide cutting edge insights on some of the most formidable issues that Nigeria faces in leveraging Domestic Resource Mobilization (DRM) for driving its Sustainable Economic Growth and Development.

 

 

Proshare Nigeria Pvt. Ltd.

 

 

AGENDA

 

Opening Remarks by Chairman of Roundtable Session (10 minutes)

  • Dr. Sarah Alade; Chairman of Gates Foundation supported NESG Fiscal Policy Roundtable and former Deputy Governor (Economic Policy), Central Bank of Nigeria

 

The Fiscal Roundtable Video Documentary: “Citizens Perceptions About Fiscal Governance in Nigeria.”

 

Presentations (30 minutes)

 

Fiscal Governance and Taxation – Where Are We Now and Where Can/Should We Go from Here?

  • Dr. Doyin Salami; Co-Chair & Resident Commissioner, Fiscal Policy Roundtable

 

Mapping the Perspectives and Challenges of Domestic Resource Mobilization in Nigeria

  • Mr. Amine Mati; Mission Chief/Senior Resident Representative

 

Tax Optimisation – Global Lessons for the Nigerian Context

  • Dr. Neil McCulloch, Principal, The Policy Practice

 

 

High-Level Panel Discussion (60 minutes)

  • His Excellency Nasir El-Rufai; Executive Governor of Kaduna State
  • Dr. Doyin Salami, Co-Chair/Resident Commissioner, Fiscal Policy Roundtable
  • Mr. Amine Mati, Mission Chief/Senior Resident Representative
  • Dr. Neil McCulloch, Principal, The Policy Practice
  • Prof. Teju Somorin, FCTI; Professor of Taxation Immediate Past President, Chartered Institute of Taxation of Nigeria (CITN) & Coordinating Dean of CITN Tax Faculties

 

Moderator:

Mr. Olufemi Awoyemi (FCA); Chairman, Proshare

 

Comments, Question and Answers (15 minutes)

 

Closing Remarks by Chairman of Roundtable Session (5 minutes)

Dr. Sarah Alade, Chairman, NESG Fiscal Policy Roundtable

 

 

Proshare Nigeria Pvt. Ltd.

 

 

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