By ABDULLAHI Rabiu, Kano
The Chairman of Fiscal Responsibility Commission Barrister Victor Muruoka Esq, has said that the Macro economic sustainability of Nigeria will only improve if it’s Citizens at all levels imbibe a culture of Fiscal Responsibility.
Speaking at a two Day Fiscal Transperancy and Sustainable Development Held at the Central Hotel on Monday in Kano.
According to the Fiscal Responsibility Chairman the aim of the program is to expand and deepen the frontiers of Fiscal Responsibility Transperancy and accountability to Subnationals levels of government in Nigeria .
He said ” in 2020, Nigeria had experienced it’s deepest recession in two decades, but growth resumed in 2021 as pandemic restrictions were eased, Oil prices recovered, and authorities implemented policies to counter the economic shock.
Nigeria was highly Vulnarable to the global economic disruption caused by COVID 19, particularly due to decline in Oil prices . Oil accounts for over 80 per of exports, a third of banking sector credit and half of government revenues.
According to Barrister Muruoka Esq. In 2018 about 40 per of Nigerians (83 million people ) lived below the poverty line while another 25 per (53 million ) were Vulnarable adding that the number of Nigerians living below poverty line are expected to rise by 12 miiion before 2023 .
Muruoka further stated that the fiscal Responsibility Commission is determined to build human capital development. And will strive to make good of the information furnished the commission by the DMO the to act decisive on loans taken by states governors.
” State Governor’s used to rush their Houses of Assemblies members to quickly acquire loans not minding the procedures and that will not be acceptable and the Commission is going to raise it’s stick against any violations of it’s laws forthwith .
Responding the governor of Kano state Dr Abdullahi Umar Ganduje represented by Honourable Nura Muhammed Dankadai said the state welcomed all the participants of the workshop and promised to established a fiscal Responsibility Commission office in the state.
” We have sound and formidable agencies that are handling similar responsibility in the state just like the fiscal Responsibility Commission. And the state is a signatory to Open Government Partnership . OGP. Among others.
Ganduje said the state had excelled in the area of security and that is why people are sleeping with their eyes closed. Kano is peacefully and it is not without some challenges.
” We will synergize with fiscal Responsibility Commission in order to ensure proper management of our scarce resources. Ganduje averted.
