The Fiscal Responsibility Commission has declared that the federal government had not breached any law in the 2022 budget proposals by exceeding the three per cent threshold prescribed as deficit by the Fiscal Responsibility Act .
He said: “You are aware that the FRA 2007, while it clearly defined what the threshold should be, it also made room for exceptions. The exceptions in this case are quite obvious. This issue has been canvassed earlier and the Commission has come out to take a position that there is room for exception to the provisions of the Act.
“Nigeria is not an exception. COVID is still there, particularly the third wave which is the Delta variant. So, we shall continue to see how we can battle with the economic implications.” According to him, the workshops would be held across the six-geopolitical zones after which the possibility of holding in each of the 36 states of the federation and Abuja would be considered.
These, he stated, are potent instruments of the law which citizens and groups can rely on to drive advocacy for reforms and push for adoption of best practices in the public finance management space of our dear country.
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