The Fiscal Responsibility Commission (FRC) recently hosted a delegation from the Ministry of Finance and Economic Affairs of the Republic of Gambia. The one-day study tour was organized by Nigeria’s Debt Management Office, led by S. K. Abubakar, Head of the Organizational Research Department. The visit aimed to promote inter-regional cooperation on fiscal governance, with the Gambia seeking to learn from Nigeria’s experience.
Representing Barrister Victor Muruako, the Executive Chairman of the FRC, Alhaji Muhammed A. Zailani, Director of Administration and Human Resources, welcomed the Gambian delegation. Zailani emphasized the Commission’s role in enforcing the Fiscal Responsibility Act of 2007, which regulates government spending and limits reckless borrowing across different levels of government. He highlighted the Commission’s achievements, including the reform of Nigeria’s budgetary process through the introduction of the Medium-Term Expenditure Framework (MTEF).
Zailani also discussed the importance of public participation in budget preparation and the shift towards a rule-based fiscal system that prioritizes transparency over discretionary spending. He noted that as of June 2024, the FRC had facilitated over 1.4 trillion naira in independent revenue from government-owned enterprises into the Federal government’s Consolidated Revenue Fund.
He stressed the Commission’s commitment to international best practices in government affairs, aligning with the Renewed Hope Agenda. Zailani also expressed gratitude to the Gambian government for choosing Nigeria as a model for good governance, strengthening regional collaboration in line with Africa’s Self-Assessment for Good Governance and the African Peer Review Mechanism.
Ansumana Sannel, Deputy Permanent Secretary of the Gambian Ministry of Finance, thanked the FRC and Nigeria’s Debt Management Office for organizing the learning opportunity. He emphasized the importance of addressing contingent liability issues linked to government-owned enterprises, which can pose risks to developing economies like the Gambia. Sannel remarked that the delegation was eager to learn from Nigeria’s experience to avoid “re-inventing the wheel.”
During the visit, Dr. Chris Uwadoka, Senior Special Assistant to the FRC Chairman, provided an overview of the Commission’s mission and the role of the Fiscal Responsibility Act in promoting fiscal accountability. Racheal Angbazo, Assistant Director of Monitoring and Evaluation, presented on regulatory frameworks governing contingent liability issues and the Commission’s authority to investigate the financial activities of government enterprises.
Dr. Barth Ajah from the Debt Management Office expressed appreciation to the FRC for accommodating the peer review visit on short notice, noting that the Gambian delegation left with valuable insights for tackling fiscal challenges.
