The Fiscal Responsibility Commission (FRC), has tasked states and local governments to enact Fiscal Responsibility Law, to promote transparency, accountability, and probity in governance.
The Chairman of the Commission, Mr. Victor Muruako, made the call at the inauguration of a two-day sensitization on Fiscal Transparency, Accountability, and Prudence (FTAP) in public finance management, on Monday in Kano State.
Muruako said the exercise with the theme: “Fiscal Transparency and Sustainable Development at the Sub-nationals,” is designed to create awareness on FTAP.
He said it was imperative for the states and local governments to complement the efforts of the Federal Government on matters of ensuring effective use of resources and financial reporting.
According to him, only 22 of the 36 states in the country have enacted the Fiscal Responsibility Law.
“The commission wishes to call on states that are lagging in fiscal responsibility to raise their game and be on the same page with the Federal Government.
“We believe that the macroeconomic sustainability of our dare nation will improve as governments and citizens at all levels, down to the grassroots, imbibe the culture of fiscal responsibility.
“The current situation of the Nigerian economy requires fiscal responsibility from all tiers of governments,” he said.
The country, he said, had made progress in social and economic terms in recent years, adding that more needs to be done on human capital development.
Muruako further urged the states to desist from making loans as their first and last considerations and stressed the need for them to meet revenue shortfalls via improvement of the Internally Generated Revenue to finance their expenditure.
In his remarks, Governor Abdullahi Ganduje said that the state government would soon establish a Fiscal Responsibility Agency, to ensure prudent management of public finances.
Ganduje, represented by Alhaji Nura Muhammad- Dankadai, Commissioner for Budget and Economic Planning, said the FTAP would reduce the burden of responsibility on the ministry.
He said the state government would continue to support such agencies with a view to enhancing accountability and transparency in public finances.
