Govt-Owned Enterprises Remit N2tn To FG’s Coffers – FRC

The Fiscal Responsibility Commission has taken its fiscal reform sensitisation campaign to National Youth Service Corps orientation camps in six states and the Federal Capital Territory as part of efforts to promote transparency, accountability, and sound public finance management among Nigerian youth.

The campaign, which took place across orientation camps in Benue, Kogi, Kaduna, Niger, Nasarawa, and the FCT, was led by the Executive Chairman of the Commission, Victor Muruako.

He said the initiative was aimed at equipping Corps Members with knowledge of fiscal responsibility and encouraging them to take active roles in advancing good governance.

Muruako, who addressed Corps Members during the outreach, said fiscal responsibility is the foundation of good governance and defined it as transparency, accountability, and prudence in the management of public funds.

“Standing here reminds me of my own NYSC days. I wish I had access to this kind of critical information back then—it would have shaped my path much earlier,” Muruako remarked.

He explained that Nigeria has shifted from a system of discretionary fiscal decision-making to a structured, law-based approach guided by the Fiscal Responsibility Act of 2007, which established the Commission.

According to him, the Act introduced a range of fiscal governance tools such as the Medium-Term Expenditure Framework, strict borrowing and debt management rules, and guidelines for the use of excess revenue, as well as provisions for budget oversight and evaluation.

He said the Act remains the most important fiscal law in Nigeria, forming the foundation of the country’s public finance system and ensuring that decisions are guided by law rather than impulse.

The Chairman also cited complementary reforms such as the Treasury Single Account, the Bank Verification Number, the Public Procurement Act, and the Infrastructure Concession Regulatory Commission Act, which he said collectively promote transparency and fiscal integrity.

Muruako noted that remittances from Government-Owned Enterprises had risen from ₦200bn in 2018 to over ₦2tn in 2024, which he attributed to increased enforcement of fiscal rules and a stronger compliance culture.

He urged Corps Members to take ownership of their civic responsibilities by reading the Fiscal Responsibility Act, staying informed on fiscal issues, promoting accountability within their communities, and forming Fiscal Responsibility Awareness Clubs at their places of primary assignment.

He also encouraged them to take advantage of Section 51 of the Act, which empowers any Nigerian to enforce its provisions in court without needing to prove personal interest, suggesting that they consider forming advocacy groups or NGOs focused on transparency and good governance.

Delegations from the Commission were dispatched to each of the NYSC camps visited, where officials sensitized Corps Members and distributed educational materials on the Commission’s mandate.

Officials who led the campaigns include Adedayo Akeem Jagun and Otsowo Emiko Henry in Benue; Bello Ibrahim and Uhegbu Mathias Chidi in Kogi; Austine Ellah and Ubah Mascot Nzubechi in Kaduna; Anyanwu Bede O. and Njoku Jude Kelechi in Niger; Ugoh Chinemerem and Sulaiman Yahaya Jadi in Nasarawa; and Ado Hassan and Mohammed Abdulahi in the FCT.

The Commission said the outreach is a strategic investment in Nigeria’s future leadership and part of a broader effort to build a culture of fiscal responsibility across all levels of society.

Govt-Owned Enterprises Remit N2tn To FG’s Coffers – FRC is first published on The Whistler Newspaper