Fiscal Transparency Key to Sustaining Democracy – FRC Chairman

Maryam Aminu

As Nigeria marks Democracy Day 2025, the Executive Chairman of the Fiscal Responsibility Commission (FRC), Victor Muruako Esq., has underscored the critical role of fiscal transparency in securing the nation’s democratic gains.

In a statement signed by Bede Anyanwu, Head of Strategic Communications at the Commission, Muruako asserted that prudent and accountable management of public resources is the foundation of any sustainable democracy.

“Fiscal responsibility is the lifeblood of sustainable democracy,” he said. “When citizens can track every naira of their tax money and see it translated into tangible development, that is democracy in its truest form.”

According to the FRC Chairman, the Commission’s work in promoting transparency and accountability in public financial management is central to strengthening Nigeria’s democratic institutions. By ensuring the proper use of public funds and efficient resource allocation, he noted, the FRC empowers citizens to demand accountability one of the core tenets of democratic governance.

Muruako also welcomed the World Bank’s latest projection of 3.6% economic growth for Nigeria in 2025, describing it as an encouraging sign that recent fiscal reforms are taking root.

He pointed to ongoing efforts by the administration in areas such as subsidy reforms, revenue optimization, and expenditure rationalization as vital steps toward long-term economic resilience.

However, he emphasized that sustaining these gains requires consistent adherence to fiscal discipline across all levels of government.

“Our collective prosperity depends on our shared vigilance over public resources,” Muruako stated, urging government agencies, civil society, and citizens alike to embrace fiscal responsibility as a national value.
“Fiscal responsibility is a civic duty not just a government obligation.”

The FRC Chairman reaffirmed the Commission’s commitment to ensuring that Nigeria’s economic progress translates into real benefits for its citizens, pledging strict enforcement of fiscal rules and greater engagement with stakeholders across the public and private sectors.