The Federal Government has directed all Ministries, Departments, and Agencies (MDAs) to strictly comply with the provisions of the Medium-Term Expenditure Framework (MTEF), underscoring that adherence to the framework was critical to strengthening the credibility and transparency of Nigeria’s budget process.
The Secretary to the Government of the Federation (SGF), Senator George Akume, gave the directive when the management team of the Fiscal Responsibility Commission (FRC), led by its Executive Chairman, Victor Chinmerem Muruako, Esq., paid him a courtesy visit in Abuja.
According to a statement by the Head, Information & Public Relations in the office of the SGF, Dewan Nengak Goshit, Akume emphasised that strict adherence to the provisions of the MTEF by all MDAs was mandatory to safeguard the credibility and integrity of the national budget process to ensure a coordinated and disciplined fiscal environment that supports sustainable economic growth.
“The Medium-Term Expenditure Framework (MTEF) continues to serve as a critical instrument for aligning public expenditure with national development objectives. It ensures predictability, coherence and sustainability in budgeting.
“I wish to reiterate that all Ministries, Departments and Agencies must strictly adhere to the provisions of the MTEF. Compliance enhances the credibility of our budget process and ensures that annual appropriations are anchored on realistic macroeconomic assumptions and revenue forecasts,” he said.
Sen. Akume commended the Fiscal Responsibility Commission for its steadfast oversight role in monitoring compliance with the Fiscal Responsibility Act across the tiers of government.
He acknowledged the Commission’s efforts in promoting fiscal discipline and safeguarding public resources, urging it to further strengthen its monitoring, reporting, and enforcement mechanisms.
SGF further stressed that the timely preparation and publication of audited financial statements, budget implementation reports, and other statutory disclosures were critical to strengthening public trust and reinforcing investor confidence.
He added that in an increasingly interconnected global financial environment, Nigeria must continue to demonstrate that its fiscal governance systems were credible, predictable, and transparent.
Sen. Akume noted that the meeting with the Commission has provided an opportunity to reinforce the shared responsibility of safeguarding Nigeria’s fiscal integrity and ensuring that public finance management remains sound, transparent, and forward-looking.
He noted that consistency and discipline in fiscal operations are essential to strengthening macroeconomic stability, reducing waste and leakages, and channelling scarce resources toward sectors that directly improve citizens’ welfare.
Speaking earlier, the executive chairman of FRC, Victor Muruako, expressed profound gratitude to President Bola Tinubu for his reform-driven leadership under the Renewed Hope Agenda, noting that the administration’s commitment to revenue optimisation, expenditure control, and fiscal reforms provided the necessary political backing for the Commission’s work.
Having served the Commission meritoriously for a five-year tenure, the Executive Chairman averred that over the past five years, the Commission has strengthened its regulatory oversight of government-owned enterprises, reinforced compliance with fiscal responsibility principles, and safeguarded its institutional independence during periods of uncertainty.
He used the opportunity to thank the Office of the Secretary to the Government of the Federation for its steadfast support, as well as its consistent guidance and collaboration during challenging periods.
