Adopt fiscal responsibility law, FRC tells states

Victor Muruako, chairman of the Fiscal Responsibility Commission (FRC), says federating states should adopt the Fiscal Responsibility Law.

Muruako said this on Wednesday while speaking with the News Agency of Nigeria (NAN) in Abuja.

The Fiscal Responsibility Act 2007 is primarily designed to checkmate wastage and corruption.

The FRC chairman said it is important that the policy is adopted to consolidate the sterling principles of accountability and transparency in fiscal operations.

He also referred to the adoption of the policy in Sokoto, following its safe passage into law in 2020, adding that the commission is ready to provide technical assistance to the federating states, who had been properly engaged on the necessity of incorporating the fiscal responsibility policy into state laws.

“We will keep encouraging them, we will keep running after them and we will keep reaching out,” Muruako said.

“It is enlightenment, it is sensitisation, we will keep talking to the citizens of the states, particularly parliamentarians to also come about it.

“You know in fiscal federalism you can’t whip anybody into line unless you are using the carrot and stick, which is what the federal government has been doing.”

He further expressed concern over the non-establishment of fiscal responsibility agencies in some states that have adopted the law.

He added that there is a need to fulfil this favourable policy in the interest of national financial security.