Forum of State Commissioners of Finance: Enabling Fiscal Discipline, Macroeconomic Stability and Growth across Nigeria’s 36 States.

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Latest News

PETAN Seeks Partnership With NNPC Ltd. On Asset Acquisition ...

To maximize the vast opportunities presented by the new petroleum regime occasioned by the enactment of the Petroleum Industry Act (PIA), the Petroleum Technology Association of Nigeria (PETAN) sought a partnership with the Nigerian National Petroleum Company (NNPC) Ltd in providing services for acreage and asset acquisition within and outside Nigeria.The association which serves as the umbrella body for local Oil and Gas Service Companies, and also responsible for the organization of the Annual Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) made this request when its leadership paid a visit to the Group Chief Executive Officer (GCEO) of the NNPC Ltd, Mr. Mele Kyari at the NNPC Towers.The PETAN Chairman, Mr. Nicolas Odinuwe, who spoke on behalf of the association, congratulated the NNPC Ltd for its speedy and unprecedented transition to a limited liability company, adding that recent acquisitions by NNPC Ltd translate to more opportunities for local service companies to contribute their quota towards the growth of the industry.He implored NNPC Limited to further acquire acreages in other climes so as to not only capitalize on the country’s expansion into gas but also make room for competent local service companies to participate in a competitive bidding process. He remarked: “we are available to provide services for some of your acquisitions, blocs, and acreages. PETAN members are available. We now have our own vehicle to provide these services that will bring every PETAN member as one to provide these services to you”.The Chairman, who also commended the GCEO for recent efforts...

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Overview Of The FCF, Ng

The Forum of Commissioners of Finance in Nigeria serves as a vital platform for collaboration, knowledge exchange, and strategic decision-making among finance commissioners across the country. Its primary purpose is to foster dialogue, share best practices, and address critical financial challenges faced by states and the nation as a whole. Under the leadership of a Chairman, commissioners actively participate, ensuring diverse perspectives and regional considerations. Key focus areas include budget formulation, revenue mobilization, debt management, financial accountability, economic diversification, and investment promotion. The forum collaborates with the Nigerian Governors Forum (NGF) and engages with federal agencies like the Economic and Financial Crimes Commission (EFCC). Achievements include improved financial management practices, but challen…

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Frequently Asked Questions

The Forum of Finance Commissioners in Nigeria (FCFN) is a non-partisan body comprising the Finance Commissioners of all 36 states in Nigeria. The forum serves as a platform for ensuring fiscal discipline, discussion, coordination, and the exchange of ideas on financial matters affecting the states and the nation as a whole. FCFN aims to enhance the fiscal policies of each state, ensuring alignment with national economic goals.

The primary objectives of FCFN include:

  • Facilitating dialogue and collaboration among state Finance Commissioners,
  • Foster collaboration between the 36 states, in a bid to influence the decisions of the Federation Account Allocation Committee (FAAC)
  • Promoting best practices in public financial management across the states.
  • Advising on and contributing to national fiscal policies.
  • Coordinating efforts to address common financial challenges faced by states.
  • Enhancing transparency and accountability in the management of state resources.

The Forum of Finance Commissioners in Nigeria meets monthly. These meetings provide an opportunity for commissioners to discuss current financial issues, share insights, and develop strategies for addressing economic challenges at both the state and national levels. Additional meetings may be convened as needed to address urgent matters.

Membership in FCFN provides several benefits, including:

  • Access to a network of financial experts from all states.
  • Opportunities to share and adopt best practices in public financial management.
  • Collaborative problem-solving on issues that affect multiple states.
  • A collective voice in national financial policy discussions.
  • Training and capacity-building programs for state finance personnel.

FCFN engages with the Federal Government through regular consultations and dialogue on fiscal policies and matters affecting the states. The forum provides input on federal fiscal decisions, ensuring that state interests are considered. Additionally, FCFN works closely with federal agencies to implement and monitor national financial policies at the state level.