The Fiscal Responsibility Commission (FRC), in partnership with the Centre for Social Justice (CSJ) and with support from the Rule of Law and Anti-Corruption (RoLAC) Programme, has commenced the validation of the Second Edition of the Fiscal Responsibility Index (FRI), reinforcing efforts to strengthen fiscal transparency, accountability, and compliance across Nigeria’s public sector.<\/p>\n
The validation meeting, held in Abuja, brought together key stakeholders to review the framework and methodology for the assessment, which measures the level of compliance of Federal Ministries, Departments, and Agencies (MDAs) with the Fiscal Responsibility Act, 2007, and other public financial management regulations.<\/p>\n
Strengthening Fiscal Governance<\/p>\n
Delivering the keynote address, the Acting Chairman of the Fiscal Responsibility Commission, Barrister Charles Chukwuemeka Abana, described the validation exercise as an important milestone in advancing fiscal discipline and improving transparency in the management of public resources.<\/p>\n
He noted that the Fiscal Responsibility Index was developed as an innovative performance assessment tool to objectively evaluate institutional compliance with fiscal governance standards while promoting accountability and continuous improvement across government institutions.<\/p>\n
According to him, the inaugural edition of the Index provided valuable insights into compliance levels, encouraged performance benchmarking among MDAs, and demonstrated that transparency and accountability can be systematically measured and strengthened.<\/p>\n
“The second edition builds on lessons from the first assessment by incorporating stakeholder feedback, enhanced methodologies, and refined indicators to improve accuracy, objectivity, and relevance,” he said.<\/p>\n
Barrister Abana emphasized that the objective of the Fiscal Responsibility Index extends beyond institutional rankings. Instead, it is designed to strengthen governance systems, improve compliance with fiscal regulations, and enhance public confidence in government financial management.<\/p>\n
He further disclosed that the Commission intends to institutionalize the Fiscal Responsibility Index as a regular monitoring and evaluation mechanism for assessing fiscal governance performance across federal MDAs.<\/p>\n
Building on Two Decades of Fiscal Reforms<\/strong><\/p>\n Speaking at the meeting, the Lead Director of the Centre for Social Justice, Mr. Eze Onyekpere, said the validation exercise marks the second phase of a comprehensive framework for assessing fiscal responsibility within federal institutions.<\/p>\n He observed that the initiative comes as Nigeria prepares to mark the 20th anniversary of the Fiscal Responsibility Act in 2027, noting that more than 30 states have enacted Fiscal Responsibility Laws to strengthen fiscal governance at the sub-national level.<\/p>\n Mr. Onyekpere stressed the importance of sustaining public sector reforms through consistent implementation, adequate funding, and investment in human capacity, describing these as essential ingredients for achieving sustainable national development.<\/p>\n He added that the Fiscal Responsibility Index provides an evidence-based platform for evaluating institutional performance and supporting informed policy decisions that improve public financial management.<\/p>\n Enhanced Assessment Framework<\/strong><\/p>\n Presenting the revised framework and methodology, Professor Ugochukwu Amakom, Consultant from the Institute of Development Studies, University of Nigeria, highlighted the critical role of sound fiscal policy in driving sustainable economic growth.<\/p>\n He identified key challenges affecting effective budget implementation, including weak fiscal discipline, inadequate institutional capacity, fragmented regulatory frameworks, poor financial management systems, and ineffective management controls.<\/p>\n Professor Amakom underscored the importance of budget credibility, comprehensiveness, transparency, and quality-based budgeting as fundamental pillars for strengthening public financial management and delivering better governance outcomes.<\/p>\n Promoting Continuous Improvement<\/strong><\/p>\n Stakeholders at the validation meeting reaffirmed that the Fiscal Responsibility Index remains an important instrument for promoting transparency, accountability, compliance, and value-for-money in public expenditure management.<\/p>\n As part of the exercise, questionnaires were distributed to participating Ministries, Departments, and Agencies, with a one-month deadline for completion and submission to the Fiscal Responsibility Commission.<\/p>\n The Commission emphasized that the assessment is a constructive, evidence-based exercise aimed at identifying institutional strengths and gaps, supporting continuous improvement, and enhancing compliance with fiscal governance standards. It is not intended as a punitive or fault-finding exercise, but rather as a collaborative process to strengthen public sector systems and improve service delivery.<\/p>\n The successful implementation of the Second Fiscal Responsibility Index is expected to provide a robust framework for measuring institutional performance, promoting responsible fiscal management, and advancing transparency and accountability across Nigeria’s public sector.<\/p>\n","protected":false},"excerpt":{"rendered":" The Fiscal Responsibility Commission (FRC), in partnership with the Centre for Social Justice (CSJ) and with support from the Rule of Law and Anti-Corruption (RoLAC) Programme, has commenced the validation of the Second Edition of the Fiscal Responsibility Index (FRI), reinforcing efforts to strengthen fiscal transparency, accountability, and compliance across Nigeria’s public sector. 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