{"id":4073,"date":"2025-07-16T13:32:43","date_gmt":"2025-07-16T13:32:43","guid":{"rendered":"https:\/\/fiscalresponsibility.ng\/?p=4073"},"modified":"2025-07-16T13:32:43","modified_gmt":"2025-07-16T13:32:43","slug":"frc-mourns-former-president-muhammad-u-buhari-highlights-his-fiscal-legacy","status":"publish","type":"post","link":"https:\/\/fiscalresponsibility.ng\/?p=4073","title":{"rendered":"FRC MOURNS FORMER PRESIDENT MUHAMMAD U BUHARI, HIGHLIGHTS HIS FISCAL LEGACY"},"content":{"rendered":"

The Fiscal Responsibility Commission (FRC) has expressed profound sorrow over the passing of Nigeria\u2019s former President, His Excellency Muhammadu Buhari, GCFR, describing him as a transformative leader whose fiscal reforms left an indelible mark on the nation\u2019s economic landscape.<\/p>\n

In a statement released on Monday, the Executive Chairman of the FRC, Victor Muruako, Esq., extended heartfelt condolences to the Government and people of Nigeria, as well as to the family and loved ones of the late President.<\/p>\n

\u201cOn behalf of the Fiscal Responsibility Commission, I extend our deepest condolences on the passing of our former President, Muhammadu Buhari,\u201d Muruako stated. \u201cWe mourn the loss of a statesman whose legacy of fiscal responsibility continues to inspire the work we do at FRC.\u201d<\/p>\n

During his tenure, President Buhari introduced a series of groundbreaking fiscal policies aimed at strengthening Nigeria\u2019s public finance management and promoting economic stability. Notably, he championed the adoption of Zero-Based Budgeting (ZBB) early in his administration, a move designed to improve budget credibility, enhance transparency, and enforce greater accountability in public expenditure.<\/p>\n

Buhari\u2019s administration also implemented the Economic Recovery and Growth Plan (ERGP), which played a pivotal role in steering Nigeria out of two recessions during his presidency. Furthermore, his leadership was instrumental in maintaining economic resilience amid the global challenges posed by the COVID-19 pandemic.<\/p>\n

Another significant reform under Buhari\u2019s leadership was the expansion of the Treasury Single Account (TSA) initiative, a policy that consolidated government revenues and reduced leakages, thereby strengthening financial oversight across federal agencies. His administration also enacted the landmark 2019 Finance Act, the first of its kind to accompany Nigeria\u2019s annual budget with comprehensive fiscal and business environment reform measures. This historic legislation improved revenue generation and created a more robust economic framework for sustainable growth.<\/p>\n

At the sub-national level, President Buhari advocated for fiscal discipline through the introduction of the 22-point Fiscal Sustainability Plan in 2017. He further advanced state-level fiscal transparency and accountability through the State Fiscal Transparency, Accountability, and Sustainability (SFTAS) program, which incentivized prudent financial management among state governments. Additionally, his administration provided critical financial bailouts to states grappling with severe fiscal challenges, thereby reinforcing macroeconomic stability nationwide.<\/p>\n

\u201cPresident Buhari\u2019s unwavering commitment to fiscal reforms and economic sustainability has left a legacy that continues to shape Nigeria\u2019s public finance architecture,\u201d Muruako noted. \u201cHis visionary policies have not only strengthened the federal fiscal framework but also fostered greater responsibility at the state level.\u201d<\/p>\n

The FRC joined millions of Nigerians in mourning the former President, praying for the peaceful repose of his soul and comfort for his family and the nation.<\/p>\n

\u201cMay his soul rest in eternal peace,\u201d the statement\u00a0concluded<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

The Fiscal Responsibility Commission (FRC) has expressed profound sorrow over the passing of Nigeria\u2019s former President, His Excellency Muhammadu Buhari, GCFR, describing him as a transformative leader whose fiscal reforms left an indelible mark on the nation\u2019s economic landscape. In a statement released on Monday, the Executive Chairman of the FRC, Victor Muruako, Esq., extended…<\/p>\n","protected":false},"author":4,"featured_media":4069,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/fiscalresponsibility.ng\/index.php?rest_route=\/wp\/v2\/posts\/4073"}],"collection":[{"href":"https:\/\/fiscalresponsibility.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fiscalresponsibility.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fiscalresponsibility.ng\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/fiscalresponsibility.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4073"}],"version-history":[{"count":1,"href":"https:\/\/fiscalresponsibility.ng\/index.php?rest_route=\/wp\/v2\/posts\/4073\/revisions"}],"predecessor-version":[{"id":4077,"href":"https:\/\/fiscalresponsibility.ng\/index.php?rest_route=\/wp\/v2\/posts\/4073\/revisions\/4077"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fiscalresponsibility.ng\/index.php?rest_route=\/wp\/v2\/media\/4069"}],"wp:attachment":[{"href":"https:\/\/fiscalresponsibility.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fiscalresponsibility.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fiscalresponsibility.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}