News
RMAFC Charts Path For A New Revenue Allocation Formula To Strengthen Fiscal Federalism
Joel Ajayi
The Chairman, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Dr. Mohammed Bello Shehu, OFR, has reaffirmed the Commission’s determination to produce a new, equitable, and data-driven Revenue Allocation Formula that reflects Nigeria’s current economic and constitutional realities.
Speaking at a panel discussion tittled, “Recalibrating Nigeria’s Revenue Allocation Formula” held on Monday, 13th October 2025, at the Transcorp Hilton Hotel, Abuja, Dr. Shehu said the existing formula approved in 1992 no longer reflects Nigeria’s fiscal responsibilities, demographic shifts, or governance realities.
He explained that recent amendments to the RMAFC Act have empowered the Commission to engage directly with private sector entities, including oil companies, in verifying and recovering revenues due to the Federation. The Chairman added that beyond allocation, revenue mobilisation and accountability remain central to achieving sustainable development.
Dr. Shehu gave the assurance that the review will ensure fairness, balance, and national cohesion. He therefore urged participants to set aside personal interests and deliberate as patriotic Nigerians.
He said, “Our goal is to design a formular that empowers subnational governments to meet their constitutional obligations effectively while maintaining national cohesion and macroeconomic stability. As we deliberate today, let us approach this dialogue not as representatives of different interests but as custodians of shared destiny. The choices we make here will shape the capacity of governments to deliver education to our children, healthcare to our citizens, and infrastructure to our communities.”
Speaking, Senator Yahaya Abdullahi, CON, Chairman of the Senate Committee on National Planning and Economic Affairs, said, “No matter how brilliant the ideas or technical solutions are, without political consensus and a shared national vision, progress will remain elusive.” He urged stakeholders to build transparency and trust to achieve the desired reform.
The Executive Governor of Kwara State and Chairman of the Nigeria Governors’ Forum His Excellency Abdulrahman Abdulrazaq, who was represented by Dr. Abdulateef Shittu commended RMAFC for creating a neutral platform for dialogue between the federal and subnational governments while pledging the Forum’s support for a just and workable formula.
In his remarks, the Honourable Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, CON commended the Commission’s effort and acknowledged that recalibrating the formula is key to national stability. According to him, “Our Constitution envisages cooperation among all tiers of government in advancing the welfare and security of the people. Equity must begin with revenue mobilisation, not merely allocation.”
In her remarks, Hajiya Hadiza Bala Usman, Special Adviser to the President on Policy Coordination, called for a courageous and conclusive review that aligns fiscal reforms with Nigeria’s development .
The panel session, moderated by Eugenia Abu, featured experts, including Prof. Auwalu Yadudu, Dr. Iyobosa Uwugiaren, Prof. Nazifi Darma, and Prof. Muhammad Muttaka Usman. Discussions covered constitutional, legal, and economic perspectives, with panelists urging a formula that promotes fiscal responsibility, innovation, and subnational accountability.
Some stakeholders at the occasion advised that the subnationals should be empowered to take more responsibilities and resources to take care of the people.
In his vote of thanks, Alhaji Kabir Mashi, OON, Chairman, Revenue Allocation Formula Committee, appreciated all participants for their valuable insights, assuring that the Commission will integrate all recommendations into a fair, balanced, and sustainable revenue formula for Nigeria.
Foreign news
Algeria’s Glorious Revolution: Embassy Marks 72nd Anniversary in Abuja
Joel Ajayi
The Embassy of Algeria in Nigeria has commemorated the 72nd anniversary of the country’s Glorious Revolution of November 1, 1954, with a reception in Abuja, highlighting Algeria’s liberation struggle and strengthening diplomatic relations with Nigeria.
The event, held on November 9, 2026, at Continental Suites Hotel, attracted prominent personalities, including the Speaker of the House of Representatives, Dr Tajudeen Abbas, members of the Federal Government, senior government officials, heads of diplomatic missions and other friends of Algeria.
Speaking at the reception, Algeria’s Ambassador to Nigeria, Hocine Mezoued, welcomed guests and paid tribute to the country’s freedom fighters who sacrificed their lives during the struggle for independence.
He described the November 1, 1954 revolution as the foundation of modern Algeria, noting that the sacrifices of the nation’s martyrs made it possible for the country to reclaim its sovereignty.
On Algeria’s development agenda, Mezoued said President Abdelmadjid Tebboune’s administration had continued to pursue economic reforms, diversification and national development under its New Algeria vision.
He noted that the country was recording progress in non-hydrocarbon exports, while improvements in the business environment had boosted investor confidence and attracted significant foreign investments.
On foreign policy, the ambassador reaffirmed Algeria’s commitment to non-interference, respect for national sovereignty, peaceful conflict resolution and the right of peoples to self-determination.
Addressing security challenges in the Sahel, he stressed that lasting peace could not be achieved through military measures alone, insisting that economic development, inclusive dialogue and peaceful resolution of disputes remained essential.
Turning to Nigeria-Algeria relations, Mezoued described the partnership as one founded on shared values and the commitment of both countries’ leaders to advancing African development.
He identified the Trans-Saharan Highway, Trans-Saharan Gas Pipeline and Trans-Saharan Fibre Optic Backbone as major strategic projects receiving attention from both countries.
The ambassador also disclosed that Algeria had continued to provide scholarships to Nigerian students to strengthen human capital development and capacity building.
He further announced that Air Algérie expanded its Nigerian operations on October 26, 2026, with the introduction of two weekly flights to Lagos, expressing confidence that the service would boost trade and tourism.
Looking ahead, Mezoued said 2027 would offer fresh opportunities to deepen bilateral cooperation, particularly through the fifth Joint High Bi-National Commission scheduled to hold in Abuja.
He expressed optimism that the meeting would provide an opportunity to assess existing partnerships, identify new areas of cooperation and move Nigeria-Algeria relations towards a more practical and results-driven phase.
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