…Advocates revenue shift
The Federal Government consistently realised less than its projected revenue, recording an average shortfall of 43% over the decade, Chairman of the Fiscal Responsibility Commission (FRC), Victor Muruako, on Monday, revealed.
Citing examples to back its assertions, Muruako said in 2017, the government projected ₦5.084 trillion but realised only ₦2.658 trillion, representing a 91.3% shortfall; in 2018, a projected ₦7.166 trillion yielded ₦3.866 trillion, an 85.3% variance.
Such wide discrepancies, it said, entrenched a cycle of missed targets, rising debt, and diminished public trust.
Represented by his Special Adviser, Dr Chris Uwadoka, Muruako gave the figures at the opening ceremony of a high-level training programme jointly organised by the FRC, the National Institute for Policy and Strategic Studies (NIPSS), Kuru, and ThinkBig Consulting Ltd.
The programme, hosted at the NIPSS campus in Jos, Plateau State, focuses on “Strategies for Increased Fiscal Efficiency, Enhanced Government Revenue, and Plugging Leakages in the Nigerian Financial System.”
He lamented persistent inefficiencies in Nigeria’s public finance management. This workshop is not just a gathering but a strategic intervention,” Muruako stated.
“Our mission is to strengthen fiscal operations, maximise every Naira, and ensure that government-owned enterprises and key agencies contribute effectively to Nigeria’s revenue mobilisation efforts.”
Other speakers reinforced the need for accountability and fiscal discipline. A statement issued by FRC’s Communications Directorate, Mr. Bede Ogueri Anyanwu said
In her remark, Ifeoma Ezeoke from the Judiciary urged transparency in the management of public funds and encouraged participants to apply lessons learned to strengthen governance.
Dr. Solomon Titus Gushibet, Senior Fellow and Chief Operating Officer at the Centre for Financial Economics of the National Institute of Policy and Strategic Studies, Kuru, described the workshop as both academic and strategic.
“This gathering brings together some of the brightest minds in government agencies to sharpen the tools of fiscal governance and ensure that every Naira counts,” he remarked.
Prof. Jane Omotayo Ande, the first female professor of accounting who represented the Director General National Institute of Policy and Strategic Studies, Kuru, Professor Ayo Omotayo commended the FRC for its commitment to fiscal reforms.
She urged participants to formulate actionable policy recommendations that would enhance transparency and accountability in Nigeria’s economic management.
The training programme is expected to generate practical strategies for closing the gap between fiscal projections and actual outcomes, while fostering a culture of prudence, efficiency, and integrity in Nigeria’s financial system.
