To Boost Govt Revenue, Fiscal Transparency, NIPSS, FRC Move to Plug Leakages in GOEs, MDAs

Ndubuisi Francis in Abuja

To stem lingering revenue challenges and attendant difficulty in meeting government targets, Fiscal Responsibility Commission (FRC) is organising a high-level training for Government-Owned Enterprises (GOEs) and Ministries, Departments and Agencies (MDAs) on strategies for increased fiscal efficiency and enhanced government revenue.

The training workshop, which is in collaboration with National Institute for Policy and Strategic Studies (NIPSS), Jos, is expected to reinforce the principles of fiscal responsibility within the operations of GOEs and key MDAs, and enhance participants’ capacity to implement reforms that strengthen transparency and accountability.

It is also designed to provide a roadmap for improved fiscal efficiency, sustainable revenue mobilisation, and reduction of leakages in government finance as well as encourage synergy between fiscal policymakers, regulators, and institutional leaders for better economic governance, in line with President Bola Tinubu’s Renewed Hope Agenda.

In a statement by its Deputy Director, Strategic Communications Directorate, Bede Anyanwu, FRC said it was established under the Fiscal Responsibility Act (FRA), 2007, and mandated to monitor and enforce the payment of Operating Surplus by 68 GOEs, while also ensuring accountability in the management of internally generated revenue by other critical government agencies.

The statement said, “By engaging chief executives and key finance, legal, and compliance officers of these agencies, the workshop, with the theme, ‘Strategy for Fiscal Efficiency, Enhanced Government Revenue, and Plugging Leakages in Nigeria’s Financial Management System,’ seeks to provide a platform for critical dialogue, knowledge exchange, and the design of practical strategies to strengthen fiscal discipline, boost government revenue, and minimize financial leakages within the public sector.

“The collaboration with NIPSS underscores the recognition of the Institute as Nigeria’s apex policy think-tank and training hub for strategic leadership.”
The workshop, facilitated by Thinkbig Consulting Limited, will feature presentations from seasoned experts and policy leaders, including FRC Executive Chairman, Victor Muruako, who will deliver the welcome address, setting the tone for high-level deliberations.

Nigeria’s first professor of capital market studies, Professor Uche Uwaleke, will present a paper on, “Examining the New Tax Reforms and Payment of Operating Surplus by Government Owned Enterprises (GOEs).”

Uwaleke’s presentation will critically assess recent tax reforms and their implications for GOEs’ compliance with fiscal responsibility laws.

“In addition, renowned policy scholars and facilitators from the National Institute for Policy and Strategic Studies (NIPSS) will enrich the programme by delivering papers on wider fiscal and economic governance issues, ensuring a balanced mix of academic depth, policy relevance, and practical guidance,” the statement said.

Speaking on the forthcoming collaboration, Principal Partner/CEO of Thinkbig Consulting Limited, Tijjani Abdullahi, Esq., said the workshop was designed to create an environment where top government officials can “brainstorm, re-strategise, and commit to advancing fiscal responsibility for national development”.