The Federal Inland Revenue Service (FIRS) in collaboration with the IMF-hosted AFRITAC West 2 recently chaired the Steering Committee meeting, emphasizing a strong partnership that is delivering tangible outcomes across its institutional priorities—notably in tax administration, public financial management (PFM), financial supervision, and statistics.
Key highlights include:
- Strengthened Tax & Revenue Systems: AFRITAC West 2 has supported Nigeria (and other member states) in implementing Tax Administration Diagnostic Assessment Tools (TADAT) and operationalizing risk-based tax frameworks, compliance mechanisms, and post-clearance audits under customs reforms .
- Improved PFM and Budgeting: Governments in the region have benefited from support in medium-term macro-fiscal frameworks, programme-based budgeting, and enhanced transparency of fiscal reporting .
- Enhanced Financial Supervision & Monetary Policy: Central banks across member countries including Nigeria have developed risk-based supervision tools, forecasting models, and infrastructure oversight systems.
- Better Statistics & Economic Analysis: AFRITAC West 2 has assisted in the rollout of System of National Accounts 2008, improved consumer and producer price indices, and empowered national statistical offices to produce and publish quarterly GDP data .
These measurable results align with AFRITAC West 2’s mandate to bolster domestic resource mobilization, increase governance transparency, and advance macroeconomic stability across Cabo Verde, The Gambia, Ghana, Liberia, Nigeria, and Sierra Leone .
In summary
The FIRS-hosted Steering Committee confirms that the AFRITAC West 2–FIRS partnership is achieving concrete, institution-strengthening impacts particularly in tax reforms, financial management, central bank operations, and statistical capabilities.
Post a Comment
Leave a Reply