Fiscal Responsibility Commission and the Disclosure of Information on Public Revenues and Expenditures in Nigeria, 2007-2014

Abstract

The need for fiscal laws and their implementation is glaring in Nigeria considering the fiscal irresponsibility displayed by many Nigerian institutions and Nigerians in public trust. In Nigeria, the fiscal atmosphere is characterized by lack of access to fiscal information, absence of transparency and openness in the management of public finance. In reaction to this challenge, previous administrations especially at the federal level made policies, established agencies charged with the responsibility of setting standards in fiscal matters. Despite these efforts, obscurity in the handling of government fiscal resources remains on the increase. This led to policy reforms which culminated in the enactment of the Fiscal Responsibility Act, 2007. This particularly led to policy reforms that engendered the creation of the Fiscal Responsibility Commission (FRC) via the enactment of the Fiscal Responsibility Act, 2007 in Nigeria. The FRC is a body established to enforce the provisions of the FRA, 2007 which among other things include the promotion of transparency, openness and accountability in the management of public resources. The aim of this study was to examine how the FRC has compelled persons or government institutions to disclose information relating to public revenues and expenditures and their implications for its finances. The study adopted a survey design. The population of the study consisted of 130 staff and officials of the Fiscal Responsibility Commission. Primary data were gathered using structured oral interview. Textbooks, journals, government publications, etc were the sources of secondary data and it was critically examined alongside the primary data using descriptive analysis. Central among the findings of the study was that the FRC has not been able to secure a timely disclosure of information on public revenues and expenditures from the persons and government institutions in Nigeria. The MDAs treat the Commission's requests to publish their information as required by the FRA, 2007 with disrespect and unseriousness.