Days Of Deficit Budgeting Over Soon….AGF Assures

The Accountant General of the Federation, Ahmed Idris has said it is working to face out deficit budgeting currently practiced in the country.

A statement by the Director, Information, Press and Public Relations, Henshaw Ogubike stated that Idris said this when he received in audience, the leadership of the Fiscal Responsibility Commission (FRC), led by the Executive Chairman, Victor Muruako Esq, at the Treasury house , Abuja.

The Accountant General of the Federation said that in order to enhance the dwindling finances of the government, revenue generating Agencies should be alive to their responsibility and seal loopholes observed in the system.

He noted that governments at all levels in the country as well as the private sector are experiencing the problem of dwindling revenue, noting that presently it has become imperative to seriously address the issue of dwindling finances.

“This can only be achieved when revenue generating Agencies brace up and take their responsibility serious, think out of the box and seal the revenue leakages that are observed in the system”, He said.

He advocated for a change the narrative that will make Government rely on its inflows and the finances it generates to fund its activities rather than budgeting on yet to be realised revenue.

The Accountant General of the Federation assured the management of the Fiscal Responsibility Commission that the Federal Treasury will give the needed support to the Agency to achieve its mandate and will make positive inputs to the amendment of the Fiscal Responsibility Act.

Speaking earlier, the Chairman of the Fiscal Responsibility Commission (FRC), Victor Muruako Esq noted that the Agency can only achieve its mandate when the Fiscal Responsibility Act is successfully amended to reflect current realities. He solicited the support of the Accountant General of the Federation in the proposed amendment of the Act while also commending him on reform initiatives introduced to manage the nation’s treasury.

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