Many states in Nigeria have yet to implement the Fiscal Responsibility Act, according to Mr. Victor Muruako, the Chairman of the Fiscal Responsibility Commission (FRC). He revealed that the FRC has collaborated with the National Universities Commission (NUC) and the National Board for Technical Education (NBTE) to develop a curriculum on fiscal responsibility.
While some states have passed the law, they have not established the necessary fiscal responsibility agencies. In fact, some states have only attempted to pass the law without proper implementation. Currently, approximately 26 states have adopted the law but are at different stages of implementation.
Muruako emphasized the importance of domesticating the Fiscal Responsibility Act in order to promote resource management prudence at the state level. He mentioned that during the federal government’s bailout of states, two conditions were agreed upon: the need for sub-national governments to engage in reforms and the enactment of fiscal responsibility, audit, and procurement laws.
The chairman praised the Nigerian Governors Forum for facilitating peer review among sub-national governments and expressed the Commission’s commitment to working with the forum to ensure widespread adoption and implementation of the Fiscal Act.
Regarding the curriculum, Muruako noted that progress has been made, aiming to involve students in fostering fiscal transparency across all levels. Sensitization programs have already sparked interest among students, cultivating a growing number of fiscal responsibility enthusiasts.
Additionally, the Commission has signed Memorandums of Understanding with the National Youth Service Corps (NYSC) and the National Universities Commission (NUC) to promote fiscal transparency. They have conducted awareness campaigns in various NYSC camps, and plans are underway to reach more camps in the future. The engagement with students and youths has been fruitful, as they are becoming more aware and proactive in matters of transparent public finance management.
Muruako emphasized that it is crucial for students and youths to understand that they do not have to wait until they graduate or reach top positions to learn about good governance and leadership practices. The Commission has received positive responses from students, who have pledged to implement the knowledge they have gained.
To enhance fiscal transparency and accountability, the Commission has established online platforms for citizen engagement. They have also organized workshops and training sessions across different regions, involving civil society organizations, citizens, and other key stakeholders, to foster the exchange of ideas and improve productivity.