The Fiscal Responsibility Commission (FRC) says the administration of late former President Mohammadu Buhari made transformative contributions to Nigeria’s fiscal framework.
By Vivian Emoni
The Fiscal Responsibility Commission (FRC) says the administration of late former President Mohammadu Buhari made transformative contributions to Nigeria’s fiscal framework.
Mr Victor Muruako, Executive Chairman of the commission made this known in Abuja on Tuesday, in his condolence message to the family of the late president.
Muruako said that Buhari’s administration introduced Zero-Based Budgeting (ZBB) to reset the budgeting system and improve budget credibility.
He said that the effort enhanced transparency and accountability in public expenditure.
According to the FRC boss, the Economic Recovery and Growth Plan (ERGP) introduced introduced by Buhari was instrumental in guiding Nigeria out of two recessions.
He said that Buhari’s leadership ensured economic resilience during the global COVID-19 crisis.
”Another landmark achievement was the expansion of the Treasury Single Account (TSA) implementation, which significantly strengthened financial oversight and curbed leakages in public funds.
“Additionally, the 2019 Finance Act, assented to by him, marked a significant legislative milestone.
“It also represented the first time in Nigeria’s history that an annual budget was accompanied by complementary fiscal and business environment reform legislation, fostering a more robust economic framework,” he said.
Muruako said that Buhari also championed fiscal responsibility through the 22-point Fiscal Sustainability Plan introduced in 2017.
“On behalf of the commission, I extend our deepest condolences to the government and people of Nigeria on the passing of our former president.
“We mourn the loss of a statesman whose legacy of fiscal responsibility continues to inspire the work we do at FRC.
“Our thoughts and prayers are with his family, loved ones and the entire nation during this period of national mourning. May his soul rest in eternal peace,” he said. (NAN)