A Bill for an Act to Amend the Fiscal Responsibility Act cap. F40 Laws of the Federation of Nigeria 2007 to Stop Revenue Leakages, Stipulate the Fraction of Excess Revenues that should be Used for Developmental Capital Projects and to Provide for the Application of Estimated Revenue to Debt Ratio for Determination of Debt Limit and for Related Matters
National Assembly (2024)
Working Paper
This Bill seeks to amend the Fiscal Responsibility (Establishment) Act to among other things: (a) Provide for the use of estimated revenue to debt ratio as a yardstick for borrowing; (b) increase developmental capital expenditure from excess revenue in annual budgets; and (c) generally reduce or completely eliminate wasteful spending.