FRC Urges Fiscal Discipline, Institutional Independence Ahead of 2027 Elections

FRC Urges Fiscal Discipline, Institutional Independence Ahead of 2027 Elections

By  Emmanuel Iyoho 

Fatima Binta Abubakar, Head of Secretariat, representing the Acting Chairman, Fiscal Responsibility Commission, FRC, Charles Chukwuemeka Abana, delivers the commission’s remarks at the Forum on _Political and Governance Agenda for the Economy_ held at Sandralia Hotel, Abuja recently

 The Fiscal Responsibility Commission, FRC, has called for strict adherence to fiscal discipline and the strengthening of public institutions as critical steps toward building a resilient economy ahead of the 2027 general elections.

The call was made at the Stakeholders’ Forum on _Political and Governance Agenda for the Economy_ organized by the Centre for Social Justice, CSJ, with support from Friedrich Ebert Stiftung, FES Nigeria, in Abuja recently.

Representing the Acting Chairman of the Commission, Charles Chukwuemeka Abana, the Head of Secretariat, Fatima Binta Abubakar, said Nigeria’s economic stability depends on transparency, accountability and the effective implementation of the Fiscal Responsibility Act 2007.

She noted that weak enforcement of fiscal rules, poor budget performance, and lack of consequence management continue to undermine public finance management in the country. Nigeria’s debt stock stood at N144.67 trillion as of December 2024 according to the Debt Management Office, with debt servicing consuming over 30% of the 2025 federal budget.

“The Commission urges political parties and incoming administrations to prioritize fiscal responsibility in their manifestos and governance plans. Institutions must be empowered to operate independently and free from political interference,” she said.

Abubakar added that the FRC is working to deepen collaboration with Civil Society Organizations, MDAs and the National Assembly to ensure compliance with fiscal benchmarks, curb waste in public spending, and strengthen the Medium-Term Expenditure Framework process.

She further stressed that oil price volatility and revenue leakages remain major threats to budget credibility, and called for diversification beyond oil to stabilize government finances.

In his opening address, Lead Director, CSJ, Eze Onyekpere, said Nigeria’s democracy will remain weak without addressing economic governance in party manifestos and campaign debates.

He said: _“For too long, political discourse in Nigeria has focused on personalities and ethnicity while ignoring the economy. This forum seeks to mainstream economic development, public finance management, and accountability into governance and political conversations ahead of 2027.”_

Onyekpere urged political parties to present credible, costed policy alternatives and commit to fiscal rules that promote inclusive growth, job creation and poverty reduction. He cited the 2022 report by the National Bureau of Statistics showing over 133 million Nigerians are multidimensionally poor as evidence of the need for policy-driven campaigns.

Participants at the forum, including representatives of the APC, CSOs, and MDAs, agreed that the 2027 elections present an opportunity to reset Nigeria’s economic trajectory through evidence-based policies.

They called on INEC, the media, and civil society to monitor campaign promises and hold political actors accountable to economic commitments.

The forum ended with a call for a national consensus on fiscal reforms and stronger synergy between government, political parties and citizens to ensure that economic development becomes central to governance.