The Nigerian Senate has pledged to provide adequate funding for government watchdog agencies, emphasizing their critical role in enforcing financial compliance among revenue-generating agencies. Lawmakers noted that underfunding such agencies weakens their ability to ensure financial accountability and transparency.
This commitment was made by the Senate Committee Chairman on Finance, Mohammed Sani Musa, during the 2025 budget defense session of the Fiscal Responsibility Commission (FRC) in Abuja. The FRC Chairman, Victor Muruako, presented the agency’s budget and highlighted the challenges of underfunding.
Sani Musa expressed concern over the persistent underfunding of the FRC, attributing it to the restrictive budget envelope system managed by the Budget Office, which has consistently allocated insufficient funds to the agency since its establishment in 2007.
The FRC was created by an Act of Parliament in 2007 to promote transparent and accountable financial management in Nigeria. However, the Senate Chairman emphasized the need to revisit the FRC’s budget to ensure its effectiveness.
“One major area we focused on is funding. Your agency, which serves as a watchdog for revenue-generating bodies, is severely underfunded. Despite the challenges, your commitment and performance are commendable. We will work to ensure the reconsideration of your 2025 budget to provide you with the resources needed to function effectively,” Sani Musa stated.
He also hinted at plans to amend the FRC Act, highlighting the importance of legislative changes to enhance transparency and accountability in public finance management.
Victor Muruako, while presenting the agency’s budget performance report, revealed that the proposed N1.6 billion budget for 2025 was grossly inadequate for the agency’s extensive work. He appealed to lawmakers to prioritize adequate funding for the commission to address its enforcement challenges, particularly in remittances to the Consolidated Revenue Fund (CRF).
Senator Abdul Ningi, representing Bauchi Central Senatorial District, and other committee members supported the FRC Chairman’s calls for increased funding and legislative amendments. They acknowledged the need to strengthen compliance among Government-Owned Enterprises (GOEs) and improve financial accountability.
Sani Musa assured the FRC of the Senate’s commitment to addressing their concerns, including escalating the funding issue to the Senate President and ensuring the Appropriation Committee gives it the necessary attention.
