Akume seeks stronger fiscal governance, collaboration among oversight institutions

George Akume, Secretary to the Government of the Federation (SGF), on Tuesday, called for stronger collaboration among fiscal and oversight institutions to deepen transparency, accountability and prudent public financial management.

Akume made the call when he received the management of the Fiscal Responsibility Commission (FRC) led by Charles Abana, Ag. Executive Chairman and Chief Executive Officer (CEO).

Akume stressed the need for stronger institutional collaboration between the Commission and key government agencies, including the Federal Ministry of Finance, the Budget Office of the Federation, the Office of the Accountant-General of the Federation, the Debt Management Office and other oversight institutions to eliminate duplication of responsibilities and strengthen fiscal governance.

“I want to urge deeper collaboration with the Federal Ministry of Finance, Budget Office of the Federation, Office of the Accountant General and the Federal Debt Management Office, the General for the Federation and other oversight institutions to eliminate duplication and strengthen fiscal governance”, he said.

The SHF acknowledged the Commission’s strategic role in safeguarding fiscal discipline and promoting transparency and accountability in the management of public finances, describing the institution as a critical pillar in Nigeria’s fiscal governance architecture.

He noted that fiscal responsibility remains fundamental to sustaining macroeconomic stability, boosting investor confidence, ensuring debt sustainability and promoting the efficient utilisation of public resources across all tiers of government.

“The Fiscal Responsibility Commission occupies a strategic position in strengthening public financial management and ensuring that government resources are managed with discipline, transparency and accountability in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu”, he noted.

Speaking earlier, Abana said the Commission’s renewed focus is directed at improving transparency in revenue reporting, ensuring timely remittance of operating surplus into the Consolidated Revenue Fund, and eliminating revenue leakages and wastage across public institutions.

He added that through enhanced monitoring of operating surplus from Government-Owned Enterprises (GOEs) and independent revenue generated by Ministries Departments and Agencies (MDAs), the Commission recorded approximately N1.84 trillion in monitored independent revenue as at September 2025 and has set an ambitious target of N2.5 trillion in independent revenue for 2026.

The institution was established to ensure effective service delivery, is currently reviewing and upgrading its Operating Surplus Calculation Template, originally developed in 2016, to reflect current fiscal realities, including the provisions of the Finance Act, 2020, and subsequent fiscal policy reforms.

Abana stressed further that the template had been fully automated to improve efficiency, accuracy and transparency in revenue computation and compliance monitoring.