Fiscal Responsibility Act, 2007 🇳🇬

Nigeria

Fiscal Responsibility Act, 2007

Assented to on 30 July 2007
Commenced on 30 July 2007
[This is the version of this document from 30 July 2007.]

AN ACT TO PROVIDE FOR PRUDENT MANAGEMENT OF THE NATION'S RESOURCES, ENSURE LONG-TERM MACRO-ECONOMIC STABILITY OF THE NATIONAL ECONOMY, SECURE GREATER ACCOUNTABILITY AND TRANSPARENCY IN FISCAL OPERATIONS WITHIN A MEDIUM TERM FISCAL POLICY FRAMEWORK, AND THE ESTABLISHMENT OF THE FISCAL RESPONSIBILITY COMMISSION TO ENSURE THE PROMOTION AND ENFORCEMENT OF THE NATION'S ECONOMIC OBJECTIVES; AND FOR RELATED MATTERS

Part I – ESTABLISHMENT, FUNCTIONS AND POWERS OF THE FISCAL RESPONSIBILITY COMMISSION

1. Establishment of the Fiscal Responsibility Commission.

(1)There shall be established, a body to be known as the Fiscal Responsibility Commission (in this Act referred to as "the Commission").

(2)The Commission shall be a body corporate with perpetual succession and a common seal and may sue and be sued in its corporate name.

2. Responsibi1ity, powers and functio…

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