Bill for establishment of Enugu State Fiscal Responsibility Commission scales 2nd reading

A Bill for a law to provide for prudent management of state’s resources, ensure long term macroeconomic stability of the state economy, secure greater accountability and transparency in fiscal operations within medium term fiscal policy framework and the establishment of the Fiscal Responsibility Commission

to ensure the promotion and enforcement of the state’s economic objectives and for related matters, House Bill No. 4, 2018, Thursday scaled through the Second Reading on the floor of the Enugu State House of Assembly.

The Bill when passed into law would ensure prudent management of scarce resources that accrue to the state and to also ensure that all loopholes for corruption and leakages are plugged.

Praying his colleagues to pass the Bill into law, leader of the House and the presenter of the executive bill, Hon. Okechukwu Ezeugwu, said that the establishment of the Fiscal Responsibility Commission, “is about building institution that would outlive the executive.”

He said that because of the importance of the bill, his colleagues had wished that the bill would have come before now.

Ezeugwu disclosed that the World Bank is interested in the passage of the bill for the establishment of the Fiscal Commission which he said would equally affect the whole world who may wish to invest in the state.

“There is no need preaching the Gospel to the converted because my colleagues already know the benefits of the bill,” Ezeugwu said stressing the importance of the bill and for its accelerated passage into law.

Contributing to the debate, Hon. Emeka Ogbubor, Isi-Uzo State Constituency, said that there was no need stressing the importance of the bill but that what they are doing was just “icing the cake.”

He wished that the bill be given accelerated passage pointing out that the level of financial disclosure I. Enugu State under the leadership of Gov. Ugwuanyi has been wonderful and only needed a little push which is what the bill would accomplish.

The member representing Nsukka West Constituency, Hon. Nkechi-Omeje Ogbu said that with bill, “collecting revenue and not remitting it will be a thing of the past,” adding that it would create more jobs when avenues for financial leakages are plugged.

Hon. Iloabuchi Aniagu, member representing Nkanu West, said that the establishment of the Fiscal Responsibility Commission, FRC, in Enugu State would be like EFCC to check corruption and financial impropriety. Aniagu posited that the FRC would even do a better job of checking corruption then EFCC.

While congratulating members for their robust contribution to the debate, Speaker of the House, Hon. Edward Ubosi, charged the Standing Committees on Finance, Public Accounts, Anti-Corruption and Judiciary to organise a public hearing within two weeks on the bill before it could be passed.

Ubosi said that the bill is even more important to the Assembly because while the FRC would be acting like EFCC, the Assembly would be checking them to see that the state is run judiciously.