The Senate Committee on Finance has expressed dissatisfaction over the perennial poor funding of the Fiscal Responsibility Commission (FRC) during the Commission’s 2025 fiscal year budget defense. The Chairman of the committee, Senator Shehu Musa, described the situation as regrettable, highlighting the irony of the underfunding of a Commission that is charged with ensuring and...
The Chairman of the Fiscal Responsibility Commission (FRC), Victor Muruako, has said that applying fiscal responsibility practices is the best option to implement 2025 budget. “Fiscal responsibility practices are the software that makes the hardware of budget figures and percentages work,” Muruako said on Thursday 16 Jan, 2025 as he x-rayed a presentation the President...
Fiscal Responsibility Commission endorses tax reform bills as equitable, transformative The Fiscal Responsibility Commission (FRC) has thrown its support behind the Tax Reform Bills currently under consideration by the National Assembly. The commission believes that the tax reform bills have the potential to enhance fiscal governance and boost economic growth. Victor Muruako, chairman of the commission, shared...
The Fiscal Responsibility Commission organised a two-day sensitisation retreat to drive fiscal discipline and good governance in North-Central Nigeria. The retreat, themed ‘The Impact of Transparency and Accountability on Sub-National Development in North Central Nigeria,’ was held from Thursday 7th to Friday 8th Nov 2024, in Abuja. A statement signed by the Head of Strategic...
The Fiscal Responsibility Commission (FRC) recently hosted a delegation from the Ministry of Finance and Economic Affairs of the Republic of Gambia. This critical one-day study tour was facilitated by the Debt Management Office of Nigeria led by S. K. Abubakar, Head of the Organizational Research Department. The visit aimed at fostering inter-regional cooperation and...
In a bid to enhance transparency and accountability in governance, the Fiscal Responsibility Commission (FRC), has called on Civil Society Groups and organizations to utilize data from the Fiscal Sustainable Plan (FSP), and States Fiscal Transparency and Sustainability Program (SFTAS) to advocate for prudence and accountability. Speaking at a three-day South-East zonal retreat in Owerri,...
The federal government has vowed to take steps to address the issue of banks lending money to state governments without adhering to the provisions of the Fiscal Responsibility Act (FRA). Additionally, the government has directed the Fiscal Responsibility Commission (FRC) to provide increased technical support to local government councils in line with recent developments granting these councils...
States across the country have been urged to implement the Fiscal Responsibility Law to promote financial accountability and support the Federal Government’s efforts in strengthening the economy. Chairman of the Fiscal Responsibility Commission, Victor Muruako, made the call while speaking to newsmen at the sidelines of the financial accountability retreat for sub-nationals and civil societies...
The Fiscal Responsibility Commission (FRC) has successfully compelled various Federal Government Agencies and arms of government to remit over N2 trillion into the Consolidated Revenue Fund (CRF) since 2007. The disclosure was made on Tuesday, August 27, by the Executive Chairman of the Fiscal Responsibility Commission, Victor Muruako, during a one-day study visit of the...
Oru Leonard The Nigerian Economic Society (NES) has called for collaboration with the Fiscal Responsibility Commission in the area of fiscal studies aimed at timely intervention for economic stability. The president of the Nigerian Economic Society, Prof. Adeola Adenikinji stated this recently during a courtesy visit to the Executive Chairman of the Fiscal Responsibility Commission,...
