By; Samson Yaki, Kaduna.
Kaduna State House of Assembly has passed into law a bill for a law to provide for prudent public expenditure, financial management and discipline with a view to ensuring a long term macro economic stability in Kaduna State.
The law which may be cited as the fiscal responsibility law, 2016 seeks to enforce the prudent spending of government and agencies in the state.
While reading the bill for the 3rd time, the Speaker of the House of Assembly stated that the body to enforce this law will be known as the Kaduna State Fiscal Responsibility Commission.
The commission will be a corporate body with perpetual succession and a common seal, and have powers to own property and may sue and be sued in its corporate name.
According to the Speaker, the body will disseminate such standard practice that will result in greater efficiency in the allocation and management of public expenditure, revenue collection, debt control and transparency in fiscal matters, undertake fiscal and financial studies of all public financies as it affects the state, as well as make rules for carrying out its functions under this law among other functions of the board.