Fiscal Transparency Key to Nigeria’s Democratic Stability – FRC Chairman
Oru Leonard
The Executive Chairman of the Fiscal Responsibility Commission (FRC), Victor Muruako Esq., has affirmed that Nigeria’s democratic stability depends fundamentally on prudent management of public resources, as the nation commemorates Democracy Day 2025.
In a significant statement marking the occasion, Chairman Muruako declared: “Fiscal responsibility is the lifeblood of sustainable democracy. When citizens can track every naira of their tax money and see it translated into tangible development, that is democracy in its truest form.”
The Chairman emphasized that the Commission’s mandate of enforcing transparency and accountability in public financial management directly strengthens Nigeria’s democratic institutions. He noted that by ensuring proper accounting of public funds and efficient allocation of resources, the FRC empowers citizens to hold their government accountable – a fundamental democratic right.
Welcoming the World Bank’s projection of 3.6% economic growth for Nigeria in 2025, Muruako described this positive outlook as evidence that recent fiscal reforms are beginning to yield results. He acknowledged the administration’s efforts in critical areas including subsidy reforms, revenue optimization and expenditure rationalization, while stressing the need for continued commitment to fiscal discipline at all levels of government.
The Chairman issued a clarion call for collective action, urging all government agencies, civil society organizations and citizens to embrace fiscal responsibility as a shared national value. “Our collective prosperity depends on our shared vigilance over public resources, Muruako stated. He added that Fiscal Responsibility is a civic duty, not just a government obligation.” “The FRC remains steadfast in its mission to ensure Nigeria’s economic growth directly benefits all citizens through strict enforcement of fiscal discipline,” he concluded.
(FRC Media, June 12, 2025)
