BUDGET MINISTER CALLS FOR COLLABORATION WITH FRC
Oru Leonard
The Minister for Budget and National Planning, His Excellency, Abubakar Atiku Bagudu has stated the need for the Ministry to work together with the Fiscal Responsibility Commission in tracking how the proceeds are used.
The Honourable Minister of Budget and National Planning stated this when the Members of the Management of the Fiscal Responsibility Commission paid him a courtesy visit today in his office.
He described the visit as a noble one and expressed that both FRC and the Budget office are similar in their efforts to promote prudence and accountability in the Management of Public funds.
In his speech, the Chairman, of the Fiscal Responsibility Commission, Victor Muruako Esq called on the Ministry of Budget and National Planning to encourage the critical stakeholders to set the overall Debt limits for the amounts of consolidated debt as required by the Fiscal Responsibility Act,2007.
FRC Boss explained that the purpose of the visit was to express gratitude, highlight achievements, discuss challenges, and seek intervention in various areas concerning fiscal responsibility and economic development.
Muruako expressed gratitude for the Minister’s time and acknowledged his support despite his busy schedule. He commended the Minister’s role in decision-making for the 2024-2026 Medium Term Expenditure Framework (MTEF) and 2024 Appropriation Bill. The Chairman also praised the organization of the 29th Nigerian Economic Summit and thanked the Ministry for IMF training opportunities extended to staff of the Commission.
The Chairman emphasized the high expectations of Nigerians for sustainable economic growth, job creation, and poverty alleviation. He underscored the importance of strategic fiscal policies in achieving the ambitious goal of doubling the economy to $1 trillion by 2026.
He outlined the collaborative efforts between the Fiscal Responsibility Commission and the Ministry of Budget and National Planning. These efforts included aligning policies with the National Development Plan, providing independent policy advice, monitoring budget preparation and implementation, and enhancing transparency in public finance management.
Moreover, the Chairman highlighted challenges faced by the Commission, including insufficient manpower, lack of training, poor remuneration, and delays in implementing necessary reforms. He sought the Minister’s intervention in addressing these issues, which hindered the Commission’s effectiveness in fulfilling its mandate.
Muruako concluded by expressing hope that the Minister’s support would contribute to the Renewed Hope Agenda of President Bola Ahmed Tinubu. He thanked the Minister for his attention and consideration of the Commission’s proposals and prayed for God’s blessing for the Federal Republic of Nigeria.
Overall, the courtesy visit served as an opportunity to strengthen collaboration between the Fiscal Responsibility Commission and the Ministry of Budget and National Planning, while also highlighting areas requiring urgent attention and intervention for the advancement of Nigeria’s economic development goals.
