The provision of technical support by the Fiscal Responsibility Commission FRC, to the revenue hearings conducted by the National Assembly Committees on Finance led to an increase of independent revenues amounting to N1.84 trillion to the federal government in 2023.

This was disclosed by the Executive Chairman of the Commission, Victor Muruako, at a one-day policy dialogue on the implementation of the presidential directive of 50% automatic deduction from the internally generated revenue of government-owned enterprises (GOEs) held in Abuja.

Muruako, who said the FRC has been providing support to the legislature since the 9th National Assembly also  expressed the belief that when the Fiscal Responsibility Act (FRA), 2007, is amended it will  strengthen the Commission. Emphasising that there would be more gains in terms of revenue generation and remittances to government coffers. 

While expressing optimism that the current 10th assembly will pass the amendment, he pledged the continuous support of the FRC to efforts by the President Bola Tinubu-led administration to shore up the revenue base of the country.