About This Policy Commission
Trade, Investment, and Competitiveness Policy Commission (TICPC) is comprised of arbiters of specialized competency in trade, investment, competitiveness, tax, and fiscal policy. The policy commission is saddled with the mandate to holistically address brewing concerns on the Nigerian business environment with the focus of progressively realizing an enabling environment for enhanced economic activities and seamless regulation.
Impact Assessment of the 2021 Finance ActDownload Report
Trade Thematic Group
• Strengthen the position of Nigeria in the ongoing trade negotiations, with a view of optimizing the country’s defensive and offensive negotiation strategies and positions.
• Examine the possibility of expanding trade in Africa by identifying the structure and composition of goods and services trade between Nigeria and other 53 African states, including informal cross-border trade.
• Understand the degree to which the existing trade protocols can be used to enhance Nigeria’s access to the international market strategically.
• Put in place measures that will scrutinize and identify other possible options for trade arrangements between Nigeria and other parts of the world.
Investment & Competitiveness Thematic Group
• A proper alignment of well-articulated value-added investment attraction value-proposition that addresses the barriers to investment in Nigeria.
• Provide insightful business-friendly analytical scenarios on the value embedded in proposed incentive or fiscal reform. This is desirably achieved by identifying a list of several sectoral targets and articulating a list of finer actionable procedures for archiving set targets
• Consider shifting geopolitics, innovative business models and changing societal expectations in realizing the primary objectives of any functional economy – stable prices (low inflation), steady and sustained economic growth, low unemployment or full employment, and a balanced balance of payment.
• Develop propositions for de-risking these critical sectors and recommending actionable steps for fixing sectoral investment conundrums to attract the investments necessary to drive growth across these sectors. These need to be addressed for meaningful investments to be attracted to the sectors.
Fiscal Policy and Planning Thematic Group
• Assessment of Nigeria’s tax policy for improved efficiency and effectiveness in tax administration, alongside the review of tax incentives, tax waivers, exemptions, etc.
• Focus on implementation of changes brought about by the Revised National Tax Policy
• Establishment of Office of Tax Simplification (OTS).
• Find innovative ways of equitably raising revenues from the non-oil sectors of the economy while keeping in perspective the Ibrahim Index for African Governance (IIAG).
• Review of Nigeria’s expenditure composition and efficiency, with more attention on the various subsidies such as the tax incentives and waivers offered by the Federal Government.
• Focus to be placed on the spending side and how to make it more efficient, selection of infrastructure projects that would boost economic growth.
• Identify areas for improvement in Nigeria’s fiscal structure by reviewing the economics of tax structure and the expenditure responsibilities across the three tiers of the government.
Impact Assessment of the 2021 Finance Act
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1 year agoView Summary
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Critical Tax Reforms for Shared Prosperity
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There are currently no events for this policy commission
Milestones & Current Intiatives
- The Fiscal Policy and Planning Thematic Group is advocating for critical tax reforms and has proffered recommendations to revamp the tax system for inclusive growth and improvement of the economic and social status of people.
- The Fiscal Policy and Planning Thematic Group hosted a Fiscal Policy Roundtable on the Impact Assessment of the 2021 Finance Act on the 10th of March 2022. The Report of the Roundtable has been shared with the Federal Ministry of Finance, Budget and National Planning (FMFBNP) to be adopted in the design of subsequent Finance Acts.
- The Policy Commission has been engaging the Federal Ministry of Industry, Trade, and Investment (FMITI) in a series of workshops organised by the Ministry to develop Trade and Investment Policies for Nigeria.
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