FRC urged to lead the business as a business


The Commission on Fiscal Responsibility (FRC) was urged to manage the government as a business for the country in accordance with its budgetary requirements.

The lead consultant, private sector development, ECOWAS, Professor Ken Ife, gave advice on Wednesday in Abuja during the launch of the template for calculating the surplus by the MDA commission.

Ife said, since FRC is the only business manager of the government, it must manage the government as a business and ensure that the MDA will respond appropriately to the template.

"When the government is managed as a business, agencies start paying taxes and revenues from government revenues," he said.

He said that the real curator of macroeconomics in Nigeria is the FRC, stressing that every other institution is a player in different aspects.

He also urged states to introduce a key into the template to ensure its success, otherwise we will continue to argue about fiscal federalism. "

The template showed that the planned corporations are prohibited from investing funds without the prior approval of the general accountant.

"A number of corporations, as a rule, invest their funds in other areas, which leads to low liquidity and, consequently, inability to pay a surplus due to the federal government.

"Payment of surplus operating activity, which is a distribution, should not be related to the practice of corporations investing their surplus in money in capital markets," the template says.



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