The commitment of states and local government councils will enhance macroeconomic management in Nigeria, Mr Victor Muruako, Chairman, Fiscal Responsibility Commission (FRC), said yesterday in Abuja.
Muruako who said this at the opening of a five-day study visit of members of the Benue State FRC, noted that fiscal responsibility should not be seen as the responsibility of the federal government alone, but as a collective effort by the three tiers of government.
“The collective fiscal activities of states and local councils outweigh those of the federal government.
“Hence, to work hard at controlling unemployment, inflation, security, transparency, accountability, sustainability and macroeconomic stability without a commensurate commitment of states and local governments is like mopping the floor with the tap running,’’ he said.
He added that the enactment of the Fiscal Responsibility Act (FRA) in 2007 and the establishment of the FRC in 2008 had enabled the payment of N2.15 trillion as operating surplus into the Consolidated Revenue Fund of the federal government.
He said that records indicated that more than N1.2 trillion was still unremitted by ministries, departments and agencies of the federal government.
He also assured that the commission was committed to partnering with states and local councils to strengthen the fiscal responsibility ecosystem in Nigeria.