The Executive Chairman of the Fiscal Responsibility Commission (FRC), Victor Muruako, has called for fiscal sustainability from the Federal Government down to the Local Government Level.
He made this call on Tuesday in Abuja at the ongoing 5th Edition of the National Treasury Workshop, according to a statement issued by the Head of the Commission’s Strategic Communications Directorate, Bede Ogueri Anyanwu.
Muruako emphasized the importance of local governments in revenue generation.
He noted that if local governments function effectively, they can generate more revenue, recalling a time when essential services such as primary healthcare, education, and agriculture were efficiently managed at the grassroots level.
Muruako advocated for increased revenue allocation to sub-national governments, arguing that direct financial resources would have a more tangible impact on citizens.
He also urged Local Governments to engage with their communities to understand their needs before drafting budgets, as this would help drive internally generated revenue (IGR).
The FRC Chairman highlighted the significance of the Fiscal Responsibility Act 2007, which was designed to strengthen independent revenue sources.
He encouraged participants to leverage Section 51 of the Act to question any lack of transparency in government activities.
Muruako also praised President Bola Tinubu’s fiscal reforms, particularly in tax policy, stating that such measures would enhance revenue generation at the State and Local Government levels.
The call for fiscal sustainability aligns with ongoing efforts to improve financial accountability and governance across all tiers of Government in Nigeria.
Among the notable discussants at the workshop were Victor Muruako, Esq., Executive Chairman of the Fiscal Responsibility Commission (FRC), Dr. Shehu, Chairman of the Revenue Mobilization Allocation & Fiscal Commission (RMFAC), Dr. Oluwatoyin Madein, the Accountant General of the Federation, and Hon. Akin, Chairman of the State Commissioners Forum & Commissioner for Finance in Ekiti State.
These leaders engaged in in-depth discussions on revising the revenue allocation formula to enhance fiscal federalism and promote development at sub-national levels.
The workshop aims to provide actionable solutions to Nigeria’s revenue challenges while fostering transparency, accountability, and efficiency in public finance management.