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Friday, 17 March 2017

FGN Policy Acronyms To Keep In Mind

(This List will be updated regularly)

ABP — Anchor Borrowers Programme: The ABP, launched by President Buhari in November 2015, is an initiative of the Central Bank of Nigeria that provides smallholder farmers with farm inputs in cash and kind and links them to processing firms (the ‘Anchor Companies’) who ‘offtake’ the produce.

APP — Agricultural Promotion Policy: The Federal Government’s Agriculture ‘Roadmap’, developed by the Federal Ministry of Agriculture and Rural Development. Download here
BVN — Bank Verification Number:

ECC — Emergency Coordination Center: The operational arm of the Federal Government’s Inter-Ministerial Task Force (IMTF) on the Humanitarian Situation in Northeastern Nigeria, and the critical enabler of the government-led multi-stakeholder humanitarian intervention in the region. Follow on Twitter: Emergency Coord. Centre

FEC — Federal Executive Council

FGN — Federal Government of Nigeria

FSP/BSF — Fiscal Sustainability Plan; Budget Support Facility: The Fiscal Sustainability Plan (FSP) is a 2016 reform programme that specifies conditions under which States can access the Federal Government’s N510 billion Budget Support Facility (BSF).

IP — Incremental Power: Incremental Power is an Initiative of the Ministry of Power, Works and Housing, to steadily and consistently boost power supply across the country while simultaneously diversifying Nigeria’s Energy Mix away from Gas to focus more on Hydro, Solar, and Wind Power.

NERGP — National Economic Recovery and Growth Plan: The NERGP is a coherent summary of Nigeria’s short and medium-term economic plans for the period 2017–2020. The plan assembles, in one place, the Federal Government’s strategies, directions, policy priorities and intended initiatives, to inform stakeholders and enable them take their own strategic economic decisions.

NEC — National Economic Council

OGP — Open Government Partnership: OGP is an international transparency, accountability and citizen engagement initiative. In July 2016, Nigeria became the 70th country to join the OGP.

PEBEC/EBES — Presidential Enabling Business Environment Council (PEBEC); Enabling Business Environment Secretariat: EBES is responsible for implementing the reforms of the Presidential Enabling Business Environment Council (PEBEC) which was established by President Muhammadu Buhari in July 2016 to remove the red tape and obstacles which constrain businesses in the country. PEBEC is chaired by Vice President Yemi Osinbajo with the Minister of Industry, Trade and Investment, Okechukwu Enelamah, as vice chairman. EBES became fully operational in Q4 2016 and has Dr. Jumoke Oduwole, Senior Special Assistant to the President on Industry, Trade and Investment, as coordinator.

PACAC — Presidential Advisory Committee Against Corruption

PCNeI — Presidential Committee on Northeast Initiative

PICA — Presidential Initiative on Continuous Audit: PICA was set up by President Muhammadu Buhari in 2015 to strengthen controls over Government finances through a continuous internal audit process across all Ministries, Departments and Agencies (MDAs), particularly in respect of payroll. Through the activities of PICA, a total of 53,000 erroneous payroll entries have been identified, with payroll savings of N198 billion achieved in 2016.

PFI — Presidential Fertiliser Initiative

SEZ — Special Economic Zones

SIP — Strategic Implementation Plan for the 2016 Budget

SIP — Social Investment Programme

a. HGSFP — Home-grown School Feeding Programme

b. CCT — Conditional Cash Transfer

c. GEEP — Government Enterprise and Empowerment Programme

d. N-Power

TSA — Treasury Single Account: TSA is a public accounting system that enables the Government to manage its finances (revenues and payments) using a single/unified account, or series of linked accounts domiciled at the Central Bank of Nigeria.
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