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 held in Port Harcourt with the theme ‘Strengthening Financial Accountability at Sub-National Levels.’
Muruako explained that the essence of the summit was to engage key actors in the states in their roles in ensuring fiscal responsibility and accountability.
He said, “The essence is for us to engage. The issue of fiscal responsibility and accountability is not just at the national or federal level. We all have one economy, there’s no different economy for the Federal Government and another one for the states. It’s one Nigerian economy.
“But because of fiscal federalism, which is entrenched in the 1999 constitution of the Federal Republic, 1990 as amended.
“We are conscious of that, so we do more engagement, we discuss how states can adopt some federal laws, particularly the reform policies of the Federal Government.
“Some of the states in the South-South have adopted the Fiscal Responsibility Law, we are aware, some have not. Even those who have adopted it, we are worried about their level of implementation.
“There is a need for a wholehearted implementation of these reform laws.”
He further said the Federal Government had taken bold steps by establishing a presidential committee for reforms on fiscal and task policies.
“All these cannot be done only at the federal level; we need the states to buy in because the Federal Government cannot do it alone. That is why we are engaging with the actors at the state and local government.”
Continuing, the FRC chairman tasked state governors to utilize their time in office to improve the lots of the people.
He stated, “The message is simple, it’s in your interest, it’s in the interest of your people. If you are there today as governor, you have to work hard to set up the institutions that will help even when you leave.
“No one can be there forever. If you don’t do it today, tomorrow you’ll start shouting this should be done, that should be done, and that’s not the way.
“Use the opportunity you have. Not just only the fiscal responsibility law, there are others, like audit laws, and budget laws, these are key reform frameworks that both the federal and state governments should fully, wholeheartedly key into.’’
“If you ask me, I think the Federal Government is pushing quite hard but we’re not yet there.”
Muruako said the commission would continue its advocacy until the nation’s economy improves.
In his paper presentation on ‘Strengthening Oversight: The Role of Civil Society Organization in Promoting Fiscal Responsibility at the Sub-National Level,’ Justice Kemakolam Ojiako, highlighted the roles of CSOs in promoting fiscal responsibility both at the national and sub-national levels to include; monitoring and oversight, anti-corruption efforts, advocacy campaigns and public interest litigations.
Justice Ojiako, of the High Court, Owerri, Imo State, while identifying the challenges being faced by CSOs in their attempt to promote fiscal responsibility to available physical limited resources, political interference, lack of capacity and limited access to information, continue to hinder the progress.
The justice of the High Court, Owerri, Imo State concluded by offering recommendations on how to make the job easier for CSOs.
He said, “To strengthen the role of the CSO in promoting fiscal responsibility at the sub-national levels, the following recommendations are offered; governments at the sub-national levels should provide adequate funding and resources to CSOs working on fiscal government.
“The legal framework should be strengthened to protect the independent activities of CSOs, increase collaboration between CSOs, government agencies and other stakeholders, ensure adequate and prompt access to financial information and data, and invest in capacity building programs for CSOs to enhance their technical expertise.”
https://punchng.com/frc-advocates-domestication-of-fiscal-responsibility-law-to-strengthen-economy/