Grapevine

Borrowing only when necessary, central to Nigeria's economic growth

The Executive Chairman, the Fiscal Responsibility Commission, FRC, Victor Muruako, says good public procurement process and fiscal responsibility are central to sustainable economic growth.

Mr Muruako said this on Tuesday in Abuja while receiving members of the Bauchi State Public Procurement Bureau who were at the Commission on a study visit.

He was represented by Muhammed Zailani, Director of Administration and Human Resources of the commission.

According to him, fiscal responsibility will also lead to improved standard of living, good governance, increased transparency and accountability, and popular participation in the management of the income and expenditure of government.

Mr Muruako said that they would also enhance fiscal discipline, borrowing only when necessary, and promoting efficiency in the economy.