The Chairman, Fiscal Responsibility Commission, Chief Victor Muruako, has appealed to states to domesticate the Fiscal Responsibility Law.
Muruako told the News Agency of Nigeria (NAN) on Wednesday in Abuja, that the call became imperative for states to adopt fiscal responsibility into law.
The Fiscal Responsibility Act 2007 provides for prudent management of the nation’s resources and ensures long-term macro-economic stability of the national economy.
It also seeks to secure greater accountability and transparency in fiscal operations within a medium term fiscal policy framework and the establishment of the fiscal responsibility.
Muruako said that the commission had been engaging with states by providing technical assistance.
He expressed concern that some states that have adopted the law were yet to establish fiscal responsibility agency.
READ ALSO:https://brandeconomy.com.ng/firstbank-splashes-n4m-on-customers-in-verve-card-promo/
According to him, we will continue to push on, today, we are happy to have Sokoto that passed their law in 2020.
“We will keep encouraging them, we will keep running after them and we will keep reaching out.
“It is enlightenment, it is sensitization, we will keep talking to the citizens of the states, particularly their parliament to also come about it.
“You know in fiscal federalism you can’t whip anybody into line unless if you are using the carrot and stick which is what the Federal Government has been doing,’’ Muruako said.
He said that people of any state who realise that it is in their interest would urge their governor to key in.
(NAN)
