News

RMAFC Advocates Efficient Resource Allocation to Drive Sustainable Economic Growth

Published

2 months ago

July 21, 2026

Joel Ajayi

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has called for a major shift in Nigeria’s fiscal governance, urging policymakers to move beyond revenue generation and focus on efficient resource allocation, transparency, and accountability as critical drivers of sustainable economic growth and national development.

The call was made at a Stakeholders’ Strategic Retreat organised by the Commission in collaboration with the House of Representatives Committee on Finance at the Sheraton Hotel, Ikeja, Lagos. The retreat was themed: “Beyond Collection: Revenue Mobilisation for Economic Growth – Building Strategies for Efficient Resource Allocation.”

Speaking on behalf of the Chairman of RMAFC, Dr. Mohammed Bello Shehu, OFR, the Federal Commissioner representing Oyo State, Hon. Kolade Daniel Abimbola, described the retreat as a strategic platform for reviewing Nigeria’s fiscal landscape and identifying practical measures to strengthen domestic revenue mobilisation while improving the allocation of public resources across all tiers of government.

He acknowledged the progress made in expanding non-oil revenue through reforms, institutional strengthening, and digitalisation but stressed that greater efforts were needed to improve compliance, eliminate leakages, and deepen collaboration among relevant institutions.

According to him, the country’s development aspirations cannot be achieved through revenue collection alone but by ensuring that public funds are judiciously managed and invested in sectors capable of stimulating economic growth and improving citizens’ welfare.

“The conversation must now move beyond simply collecting revenue. Every naira mobilised must be efficiently allocated, prudently managed, transparently accounted for and strategically invested in sectors that stimulate economic growth, create jobs and improve the welfare of Nigerians. That is the pathway to sustainable national development,” Abimbola said.

He reiterated RMAFC’s constitutional mandate to monitor accruals into and disbursements from the Federation Account, review the Revenue Allocation Formula, and advise governments on fiscal efficiency.

Abimbola further advocated stronger collaboration among fiscal institutions, the legislature, state governments, and the private sector, noting that the adoption of emerging technologies such as Artificial Intelligence, data analytics, and digital monitoring systems would improve transparency, reduce leakages, and strengthen evidence-based fiscal decision-making.

Declaring the retreat open on behalf of the Commission’s Chairman, he expressed optimism that the engagement would produce practical recommendations capable of strengthening Nigeria’s fiscal governance framework and supporting long-term economic development.

In his keynote remarks, the Chairman of the House of Representatives Committee on Finance, Hon. James Abiodun Faleke, commended RMAFC for convening the retreat, describing it as timely and aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Faleke stressed that increased revenue alone would not guarantee development unless accompanied by prudent allocation, effective oversight, and fiscal discipline.

“Revenue, on its own, does not build roads, equip hospitals or improve the lives of our people. It is prudent allocation, effective oversight and fiscal discipline that transform public resources into tangible development outcomes. Our responsibility is to ensure that every naira works for the Nigerian people,” he said.

He urged participants to develop practical recommendations that would strengthen legislative oversight, improve fiscal management, and ensure that public resources deliver measurable benefits to Nigerians.

Speaking with journalists on the sidelines of the retreat, Abimbola disclosed that RMAFC is advancing plans to deploy a real-time digital revenue monitoring dashboard to strengthen oversight of collections by government revenue-generating agencies.

He explained that the initiative would enhance transparency, curb revenue leakages, improve remittance monitoring, and support better fiscal decision-making while ensuring that increased public revenue translates into improved infrastructure and social services.

Also speaking, the Federal Commissioner representing Abia State, Hon. Linda Nkechi Oti, described the retreat as timely and called for stronger collaboration among stakeholders to develop practical solutions that would improve fiscal governance and accelerate Nigeria’s economic development.

The retreat featured technical sessions and panel discussions on strengthening domestic revenue mobilisation, improving resource allocation frameworks, promoting fiscal sustainability, and leveraging technology to enhance transparency and accountability in public financial management.

Among the Federal Commissioners in attendance were Amb. Desmond Akawor (Rivers State), Hon. Hadizatu Uwani Mustapha (Borno State), Hon. Bello Abubakar Wamakko (Sokoto State), Prof. Steve Ugba (Benue State), Hon. Kolade Daniel Abimbola (Oyo State), and Hon. Linda Nkechi Oti (Abia State).

The Commission expressed confidence that the retreat would produce actionable recommendations to strengthen Nigeria’s revenue mobilisation framework, promote fiscal discipline, improve resource allocation, and drive sustainable economic growth.

Share on Facebook

News

Eagle Times Newspaper Will Be Voice for Nigerians – Publisher Chukwunyere Vows

Published

12 hours ago

October 2, 2026

The Gleamer

Joel Ajayi

The Publisher of The Eagle Times Nigeria, Sir Ikechukwu Chukwunyere, has pledged that the newspaper will promote accountability, credible journalism and public-interest reporting in its coverage of national affairs.
Chukwunyere made the commitment on Thursday, October 1, 2026, during the official unveiling and launch of The Eagle Times Nigeria.

He said the new media organisation was established not merely to add another newspaper to Nigeria’s media landscape, but to provide a platform committed to serving the public interest.

According to him, the newspaper’s guiding philosophy, “The Voice for the People, The Watchdog for the Nation,” places a responsibility on the organisation to listen to Nigerians, tell their stories, highlight issues affecting their daily lives and scrutinise those entrusted with public responsibilities.

“To be a voice for the people means that we must listen to Nigerians, tell their stories, highlight their concerns and give visibility to issues that affect their daily lives,” he said.

The publisher added that The Eagle Times would be guided by accuracy, fairness, professionalism, credibility and responsible journalism, stressing that the newspaper would not publish stories merely because they were sensational.

“We will verify. We will investigate. We will seek the other side. We will correct our mistakes when we make them,” he said.

Chukwunyere further stated that the newspaper would endeavour to give individuals and organisations the opportunity to respond whenever allegations were made against them.
“Our commitment is not to any political party, government or individual. Our primary commitment is to journalism, to truth and to the Nigerian public,” he said.

He noted that the newspaper was launching at a time when the media industry was undergoing rapid transformation, with audiences increasingly consuming news through digital platforms, including websites, television, podcasts and social media.

He said The Eagle Times would therefore operate as a multimedia organisation, combining its newspaper with digital platforms and The Eagle Times TV to reach audiences across different channels.

According to him, the organisation also intends to create opportunities for young journalists, writers, photographers, producers, digital creators and other media professionals to develop their skills and contribute to journalism and national development.

Chukwunyere said the newspaper’s coverage would include politics, governance, business, economy, security, judiciary, education, health, technology, sports, entertainment, lifestyle and international affairs.

He, however, said the organisation intended to distinguish itself not only by the subjects it covered but by the quality and approach of its journalism.

We want to tell stories that matter, we want to investigate issues that require investigation, we want to highlight Nigerians who are making a difference, and we want to give communities that are often ignored an opportunity to be heard,” he said.

The publisher acknowledged the challenges involved in establishing a newspaper, saying the venture required investment, commitment, professional discipline and the courage to pursue an idea.

He expressed appreciation to the management, editorial, reporting, production and digital teams, as well as families, friends, partners and supporters who contributed to the establishment of the organisation.

Chukwunyere also assured readers, viewers and the newspaper’s digital audience that The Eagle Times would strive to earn their trust and remain accountable to the standards it had set for itself.

He said the newspaper’s success would not be measured only by circulation figures, website traffic or social media followers, but also by the confidence Nigerians placed in its journalism.

“Today, we spread our wings. Today, The Eagle Times takes flight,” he said, reaffirming the newspaper’s commitment to its slogan: “The Voice for the People, The Watchdog for the Nation.”

Share on Facebook