Comply with FRA in Revenue Drive, FRC Tasks FRSC

Ndubuisi Francis in Abuja

The Fiscal Responsibility Commission (FRC) has charged the Federal Road Safety Corps (FRSC) to strengthen revenue performance and remittances through improved understanding of the Fiscal Responsibility Act (FRA) 2007.

The Executive Chairman, FRC, Mr. Victor Muruako, gave the admonition while declaring open a two-day capacity-building training on FRA, 2007.

Muruako, who was represented by the Director, Administration and Human Resources, FRC, Alhaji Muhammed Zailani, applauded the management of the FRSC for organisng the training against all odds, and for seeking a better understanding of the FRA in the quest to ensure full compliance on remittances of revenue to the federal government, particularly at a time when all hands must be on deck to improve the government’s capacity to provide solutions to all economic and infrastructural questions.

A statement issued by the FRC Head, Strategic Communications Directorate, Bede Ogueri Anyanwu, stated that Muruako noted that the fiscal responsibility initiative which was fully adopted by the federal government was an internationally accepted solution to the plethora of challenges of many governments of the world against profligate and careless abuse of office by public office holders around the world, including Nigeria.

He added that the FRA introduced rules and regulations for fiscal operations by all government officials, the adherence of which was expected to introduce discipline, prudence, accountability and transparency and to ensure that all public funds are accounted for.

He stressed that the FRA made provisions for clear governance of national fiscal ecosystem, including Establishment, Functions and Powers of the Fiscal Responsibility Commission, The Medium Term Expenditure Framework (MTEF), The Annual Budget; Budget Planning of Corporations, Budgetary Execution and Achievement of Targets.

Others are Public Revenues, Savings and Asset Management, Public Expenditure, Debt and Indebtedness, Borrowing; Transparency and Accountability; Enforcement; Miscellaneous Provisions; Interpretations as well as a Schedule, which captured the list of Government Owned Enterprises (GOEs).

He observed that ten parts of the Act as specified above have the mandate in its long title to, “provide for prudent management of the nation’s resources, ensure long-term macro-economic stability of the national economy, secure greater accountability and transparency in fiscal operations within a medium-term fiscal policy framework, and the establishment of the Fiscal Responsibility Commission to ensure the promotion and enforcement of the nation’s economic objectives; and for related matters.”

Muruako said the commitment of the Commission in the programme was to promote and enforce the nation’s economic objectives in terms of revenue generation, which has become very important for the government to implement its numerous programmes outlined in the national budget which need funding. Funding of projects can only be possible when there are resources to do so.

He described the FRSC as part of the government agencies that earn revenue in several ways, adding that training was

meant to strengthen the performance of the agency on remittances through indebt knowledge of the FRA, 2007.

In his response, the Corp Marshal, Dr. Boboye Olayemi Oyeyemi thanked members of his management for making the training possible despite time constraints.

Boboye, who was represented by the Deputy Corps Marshal, Finance and Account, FRSC, Dauda Biu, expressed the hope that the training would bring about a better relationship as well as as provide a better understanding of the FRA.

He called for continuous training of this nature for improved understanding of the FRA, 2007.