The Fiscal Responsibility Commission has begun the 2023 physical verification of selected Federal Government capital projects across the six geo-political zones of the country.
The value of the projects to be verified in the six geo-political zones is put at N2.9 trillion.
The projects earmarked for the physical verification exercise are spread across the six geo-political zones of the country.
The FRC Chairman, Victor Murako, who flagged off the exercise in Abuja, said it would take several months to complete depending on the readiness of the ministries and states involved.
Murako said: “I enjoin the staff that will be going out there for this exercise to carry out the assignments with great diligence and a sense of purpose as the exercise is one of the core mandates of the commission.”
He urged the staff to ensure they verify the actual existence of the projects as well as monitor the progress of the work done so far.
Murako stressed that the verification exercise was designed to give a fillip to the Renewed Hope Agenda of President Bola Ahmed Tinubu in the area of prudence, value-for-money and transparency.
According to him, the exercise must also be done within the ambit of the Medium Term Expenditure Framework (MTEF).
He stated that the reason for the verification exercise is to ensure that the government embarks on projects it can fund, adding that with the MTEF, cases of abandoned projects would cease.
