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FRC targets N3 trillion operating surplus from MDAs in 2022

By Anthony Otaru, Abuja
28 December 2021   |   3:55 am
The Fiscal Responsibility Commission (FRC) is targeting no less than N3 trillion operating surplus from Ministries, Departments and Agencies (MDAs) next year.

The Fiscal Responsibility Commission (FRC) is targeting no less than N3 trillion operating surplus from Ministries, Departments and Agencies (MDAs) next year.

When realised, such funds will be remitted into the Federal Government Consolidated Revenue Funds in line with the Act establishing the commission.

Recall that the FRC Act came into effect on 30th July 2007 while the Commission was set up on the 5th of December 2008.

The FRC report said that though the Commission succeeded in realising over N2 trillion paid into the Consolidated Revenue Fund of the federal government in the last ten years, the commission hopes to increase operating surplus from Federal Government entities come 2022 fiscal year.

The report further stated its achievements in 2021 to include, ‘’provision of technical assistance to States and Local Governments that enact FRC laws and bye-laws that are similar to the FRA, 2007’’.