Akume calls for stronger fiscal oversight, institutional collaboration to boost transparency

By Johnson Arua

Secretary to the Government of the Federation (SGF), Senator George Akume, has called for stronger collaboration among fiscal and oversight institutions to deepen transparency, accountability and prudent public financial management in line with the Renewed Hope Agenda of President Bola Tinubu.

Akume made the call on Tuesday while receiving the management of the Fiscal Responsibility Commission (FRC), led by its Acting Executive Chairman and Chief Executive Officer, Barrister Charles Chukwuemeka Abana, at his office in Abuja.

The SGF urged the Commission to strengthen its partnership with key government institutions, 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 (DMO) and other oversight agencies to eliminate duplication of responsibilities and improve fiscal governance.

According to him, greater institutional synergy is essential to promoting transparency, accountability and efficient management of public resources across government.

Akume described the Fiscal Responsibility Commission as a critical pillar in Nigeria's fiscal governance architecture, noting that fiscal discipline remains central to sustaining macroeconomic stability, enhancing investor confidence, ensuring debt sustainability and promoting the prudent use of public funds.

He said the Commission occupies a strategic position in strengthening public financial management by ensuring that government resources are managed with discipline and accountability in line with the administration's reform agenda.

Earlier, the Acting Executive Chairman of the FRC, Barrister Charles Abana, said the Commission had intensified efforts to improve transparency in revenue reporting, ensure timely remittance of operating surpluses into the Consolidated Revenue Fund and eliminate revenue leakages across public institutions.

Abana disclosed that through enhanced monitoring of operating surpluses from Government-Owned Enterprises (GOEs) and independently generated revenue by Ministries, Departments and Agencies (MDAs), the Commission monitored about ₦1.84 trillion in independent revenue as of September 2025.

He added that the Commission has set a target of ₦2.5 trillion in independent revenue for 2026.

The FRC boss also revealed that the Commission had reviewed and upgraded its Operating Surplus Calculation Template, first developed in 2016, to align with the provisions of the Finance Act 2020 and other recent fiscal policy reforms.

According to him, the template has now been fully automated to improve efficiency, accuracy and transparency in revenue computation and compliance monitoring.