The Nigerian Senate has pledged to provide adequate funding to government agencies with watchdog roles, emphasising that these agencies must not be undermined by underfunding due to their strategic importance in ensuring revenue-generating agencies comply with financial regulations.
The Senate Committee Chairman on Finance, Senator Mohammed Sani Musa, made this commitment yesterday in Abuja during the 2025 budget defence session of the Fiscal Responsibility Commission (FRC).
The commission chairman, Victor Muruako, appeared before the committee to present the agency’s budget performance and funding challenges.
Senator Musa expressed concern over the Fiscal Responsibility Commission’s chronic underfunding, blaming the “budget envelope” system imposed by the Budget Office, which has consistently restricted adequate funding for the commission since its establishment in 2007.
The FRC, created under the presidency by an Act of Parliament in 2007, is tasked with promoting a transparent and accountable financial management framework for Nigeria.
Musa assured the Senate would thoroughly review the FRC’s 2025 budget to increase its allocation.
He stated, “One major area we looked at is funding. You are not funded very well, yet you serve as the watchdog for revenue-generating agencies. You’re similar to the auditor general’s office but focus primarily on revenue and remittances. The tasks you undertake outweigh your resources. Despite this, Mr Chairman, I commend you for your diligence.”
He continued, “We will work to ensure that your budget for 2025 is reconsidered to provide you with a more functional working budget. Additionally, we will focus on the amendment of your Act to strengthen your capacity and ensure transparency and accountability in public finance management.”
Musa also disclosed that he had written to the Senate President regarding the commission’s abysmal funding and would personally discuss the matter before formally submitting the letter to the Appropriation Committee.
In his budget performance report, FRC Chairman Victor Muruako highlighted the challenges posed by inadequate funding. He noted that the proposed 2025 budget of ₦1.6 billion was insufficient for the agency’s extensive responsibilities, especially in enforcing remittances into the Consolidated Revenue Fund (CRF).
Muruako hoped lawmakers would reconsider the funding situation, allowing the commission to perform its duties more effectively.
Senator Abdul Ningi, representing Bauchi Central Senatorial District, and other members of the committee supported the reconsideration of the FRC budget. They also backed the chairman’s request for amendments to the FRC Act to strengthen compliance by government-owned enterprises and improve transparency and accountability in public finance management.
The lawmakers reaffirmed their commitment to equipping the FRC with the necessary resources to fulfil its mandate of promoting financial discipline and accountability in Nigeria.
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