…Charts Path for Fiscal Reform

Joel Ajayi 

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has concluded a high-level, three-day retreat for its members and senior management staff at the Ibom Hotel & Golf Resort, Uyo, Akwa Ibom State.

The retreat, which was held from April 28th to 30th, 2025, was themed “Understanding the Role of RMAFC and Other Stakeholders/Agencies in Nation Building”_ 

The Chairman of the Commission Dr. Muhammed Bello Shehu OFR disclosed that the retreat  was designed to enlighten the newly inaugurated members of the Commission and strengthen  the operational focus of the organisation to align with the national economic realities so as to accelerate the actualization of the renewed hope agenda of President Bola Ahmed Tinubu.

In a communique issued at the end of the retreat, which was presented by the Federal Commissioner representing Kwara State and Chairman, Public Affairs and Communications Committee of the Commission, Hon. Ismail Muhammed Agaka, the Commission emphasized the  urgent need to review the revenue allocation formula to reflect changing realities as enshrined in the 1999 Constitution, considering the fact that the current formula has been in existence for about 16 years.

The communique also called for constitutional amendment to allow the inclusion of the Local Government Chairmen and Councilors among the beneficiaries of the remuneration package listed in the 1999 Constitution as ammended.

Its stated that Section 162 (6) of the constitution should be amended to ensure that the allocations of the Local Governments are paid directly to them from the Federation Account in line with the Supreme Court ruling delivered on July 11, 2024 on Local Government financial  autonomy.

The communique called for the amendment of  Section 162(2) to establish a clear timeline for presidential submission of RMAFC proposals to the National Assembly.

Other major highlights of the communique are:
Establishment of a National Revenue Dashboard for digital, real-time revenue tracking;  The Commission should advocate the ammendment of the relevant sections of the Petroleum Industry Act, PIA to expand the  composition of the Board of the  NNPC Limited to include representatives of states, local governments, and the Central Bank of Nigeria;

Creation of  a distinct Office of the Accountan General of the Federation, separate from that of the Federal Government.

The commission in the communique said it would intensify its constitutional mandate of monitoring revenue accruals to ensure that all revenue due to the Federation Account were remitted accurately and promptly by the Revenue Generating Agencies.

The communique also stated that according to the spirit and letter of the Constitution, the advice of the RMAFC on the Remuneration package of Political, Public and Judicial office holders is binding on the Federal and State governments.

“The retreat marked a significant milestone in repositioning the Commission to respond more effectively to Nigeria’s evolving fiscal realities,” Hon. Agaka concluded.

The retreat was attended by top federal and state officials, such as  the Vice President, Senator Kashim Shettima, GCON, represented by Dr. Ibrahim Muhammad Natagwandu, and the Executive Governor of Akwa Ibom State, His Excellency Pastor Umo Bassey Eno, PhD, who delivered a goodwill message, the Chairman of the Nigerian Governors Forum, His Excellency Abdulrahman Abdulrazaq, Chairman Senate Committee on National Planning and Economic Affairs Senator Yahaya Abdullahi and other distinguished personalities.

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