Nigeria Governors Forum, Fiscal Responsibility Commission Works Out Areas Of Collaboration

The Nigeria Governors Forum (NGF) and the Fiscal Responsibility Commission (FRC) have met to fashion out potential opportunities for collaboration towards promoting fiscal responsibility at the subnational level.

The FRC Chairman, Mr. Victor Muruako said that it is imperative to encourage states to adopt fiscal responsibility into law.

At the moment only 18 states have been able to domesticate the fiscal responsibility law in their domains.

He expressed believes that the way to start is to take things on a regional basis before encouraging other states to key in.

For now, the Fiscal Responsibility Commission cited that the way they have been engaging with states is by providing technical assistance.

However, he hoped that through potential collaboration with NGF, they can join to take the study of fiscal responsibility to the grassroots.

The Director General of NGF, Mr. Asishana Okauru said that there is a clear nexus between the mandate of the Fiscal Responsibility Commission and that of NGF. The states could benefit from having management of their debt portfolio.

The Chairman of the Fiscal Responsibility Commission said that moving forward, they could nominate 2-3 persons to work with the NGF office.

He said that for us as a nation, fiscal responsibility is very important and must be keyed into by all states.