NGF today met with the Chairman of Fiscal Responsibility Commission, Mr. Victor Muruako to discuss potential opportunities for collaboration towards promoting fiscal responsibility at the subnationallevel.
The Chairman, Mr. Muruako said that it is imperative to encourage states to adopt fiscal responsibility into law.
At the moment only 18 states have been able to dometicate the fiscal responsibility law in their domains.
He believes that the way to start is to take things on a regional basis before encouraging other states to key in.
For now, the Fiscal Responsibility Commission says that the way they have been engaging with states is by providing technical assistance.
However, through potential collaboration with NGF, they can join to take the study of fiscal responsibility to the grassroots.
The DG of NGF, Mr. Asishana Okauru said that there is a clear nexus between the mandate of the Fiscal Responsibility Commission and that of NGF. The states could benefit from having management of their debt portfolio.
The Chairman of the Fiscal Responsibility Commission said that moving forward, they could nominate 2-3 persons to work with the NGF office. He said that for us as a nation, fiscal responsibility is very important and must be keyed into by all states.
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