Fiscal Commission Plans NGF Collaboration To Strengthen States’ Economy
Fiscal Responsibility Commission (FRC) is considering nominating two or three persons to work with the Nigeria Governor’s Forum (NGF) to deepen the application of the fiscal responsibility laws at the regional and grassroots levels,
Currently, only 18 states out of the total 36 states in the federation have domesticated the law, giving insights into why fiscal administration at regional levels is weak.
Chairman of the commission, Victor Muruako at a meeting with the Director-General, Nigeria Governors’ Forum, (NGF) Asishana Bayo Okauru in Abuja said hinted of lots of potential opportunities for collaboration between the federal and the states if they promoted fiscal responsibility at the subnational level.
“I’m here to discuss potential opportunities for collaboration towards promoting fiscal responsibility at the subnational level. At the moment only 18 states have been able to domesticate the fiscal responsibility law in their domains. I believe that the way to start is to take things on a regional basis before encouraging other states to key in.
The Fiscal Commission has been engaging with states by providing technical assistance, but Muruako felt potential collaboration with the Nigeria Governors’ Forum can take the study of fiscal responsibility to the grassroots.
The Director-General, NGF, Okauru, said that there is a clear nexus between the mandate of the Fiscal Responsibility Commission and that of the NGF, admitting that states could benefit from having the management of their debt portfolio taken care of through collaboration with the Fiscal Responsibility Commission.
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