Democracy survives on prudent management of resources — FRC

The Fiscal Responsibility Commission (FRC) has advocated prudent management of the country’s resources, saying that it’s a major peg for the stability of democracy.

Its Executive Chairman, Mr Victor Muruako, said good governance meant tracking every Naira and tax revenue for the purposes of development.

Muruako offered his views in Abuja to commemorate Democracy Day, now officially marked on June 12.

“Fiscal responsibility is the lifeblood of sustainable democracy.

“When citizens can track every naira of their tax money and see it translated into tangible development, that is democracy in its truest form”, a statement by the FRC’s Head, Strategic Communications Fiscal Responsibility Commission,
Bede Anyanwu quoted the chairman as saying.

Muruako stressed that the Commission’s mandate of enforcing transparency and accountability in public financial and resource management directly strengthens Nigeria’s democracy.

The chairman noted that by ensuring proper accounting of public funds and efficient allocation of resources, the FRC empowers citizens to hold their government accountable, a fundamental democratic right.

Muruako, who welcomed the World Bank’s projection of 3.6% economic growth for Nigeria in 2025, described this positive outlook as evidence that recent fiscal reforms are beginning to yield results.

The FRC boss acknowledged the administration’s efforts in critical areas including subsidy reforms, revenue optimisation and expenditure rationalisation, while stressing the need for continued commitment to fiscal discipline at all levels of government.

He issued a clarion call for collective action, urging all government agencies, civil society organisations and citizens to embrace fiscal responsibility as a shared national value.

The statement quoted him further, “Our collective prosperity depends on our shared vigilance over public resources, Muruako stated. He added that Fiscal Responsibility is a civic duty, not just a government obligation.

“The FRC remains steadfast in its mission to ensure Nigeria’s economic growth directly benefits all citizens through strict enforcement of fiscal discipline.”