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By Daniel Adaji
The Fiscal Responsibility Commission (FRC) has said that transparent financial management is essential to safeguarding the nation’s democracy.
In his ‘Democracy Day’ message on Thursday, Executive Chairman of the Commission, Victor Muruako, said the stability of Nigeria’s democratic system relies heavily on how well public funds are managed.
“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,” he said.
He noted that the FRC’s core mandate to enforce transparency and accountability in public finance directly supports the growth of Nigeria’s democratic institutions.
He said proper accounting and efficient resource allocation allow citizens to hold their leaders accountable, a key pillar of democratic governance.
Muruako said that fiscal reforms are beginning to yield positive results, referencing the World Bank’s recent projection of 3.6 per cent economic growth for Nigeria in 2025.
While commending ongoing government initiatives such as subsidy reforms, revenue optimisation, and spending efficiency, he emphasised the need for sustained commitment across all levels of government.
The Chairman called on ministries, departments and agencies of the government, civil society, and citizens to see fiscal responsibility as a shared value.
“Our collective prosperity depends on our shared vigilance over public resources. 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,” he said.