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

Nigeria at 66: ‘We Must Not Lose Faith in Nigeria’ — FCC Boss Omidiran

Published

8 hours ago

October 1, 2026

The Gleamer

Joel Ajayi

The Executive Chairman of the Federal Character Commission (FCC), Honorable Hulayat Motunrayo Omidiran, has called on Nigerians to use the occasion of the nation’s 66th Independence Anniversary to renew their faith in Nigeria, strengthen national unity and recommit themselves to building a more inclusive and prosperous country.

In her 66th Independence Day message, Hon. Omidiran described October 1 as more than a celebration of freedom, saying the anniversary provides an opportunity for Nigerians to reflect on the country’s journey, acknowledge its progress and challenges, and renew the collective determination to build a nation where every citizen has a sense of belonging.

According to the FCC Executive Chairman, the Federal Character Principle remains particularly important to the quest for national cohesion because equitable representation promotes a sense of ownership and confidence in the Nigerian project.

“Nigeria is a nation of great diversity and
enormous potential. Our responsibility is to ensure that this diversity becomes a bridge that connects us rather than a barrier that separates us. Every Nigerian deserves to feel that he or she belongs to this country and has a role to play in its development,” Omidiran said.

The FCC boss called on government institutions at all levels to remain committed to fairness, equity, accountability and inclusive governance, while urging citizens to support efforts aimed at strengthening national institutions and promoting peaceful coexistence.

“We must not lose faith in Nigeria. The challenges before us are real, but so are the opportunities and the enormous human and natural resources available to us. Every citizen has a responsibility to contribute his or her own quota to building the Nigeria we desire,” she stated.

The FCC Executive Chairman also urged young Nigerians to remain committed to acquiring knowledge and skills, entrepreneurship, innovation, sports and other productive ventures, describing the youth as critical stakeholders in the country’s future.

“As we celebrate 66 years of independence, let us remember that the Nigeria we want cannot be built by government alone. It requires the commitment of all of us – leaders and citizens, young and old, from every part of the federation. Together, we can build a Nigeria where justice, fairness, opportunity and peace are available to all,” she said.

Omidiran reaffirmed the FCC’s commitment to the effective discharge of its constitutional mandate and to supporting efforts that promote equitable representation and inclusive national development across the federation.

The former lawmaker wished Nigerians at home and abroad a peaceful and memorable 66th Independence Anniversary, praying for continued peace, stability, prosperity and progress for the Federal Republic of Nigeria.

“Our differences should never be greater than our common identity as Nigerians. Let us continue to choose unity over division, service over self-interest and hope over despair. The Nigeria of our dreams is possible if we all play our part,” Omidiran said.

“On behalf of the Federal Character Commission, I congratulate all Nigerians on this 66th Independence Anniversary. May this occasion renew our patriotism, strengthen our unity and inspire us to work together for a stronger, more equitable and prosperous Nigeria. May God bless the Federal Republic of Nigeria,” she added.

Share on Facebook