Business

RMAFC Plays A Pivotal Role In Nigeria’s Economic Governance- Chairman

Published

9 months ago

February 25, 2025

Joel Ajayi

The Chairman of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), Dr. Mohammed Bello Shehu, OFR, has emphasised that the RMAFC plays a pivotal role in Nigeria’s economic governance. The Chairman stated this during the visit of the Secretary to the Government of the Federation (SGF), Sen. George Akume, CON, to the Commission Headquarters in Abuja Today, 25th February 2025.

In a statement issued on Tuesday in Abuja, by the Head, Information and Public Relations Unit, RMAFC Maryam Umar Yusuf reveal that, during the occassion, which also served as the inaugural plenary meeting of the recently sworn-in Federal Commissioners, Dr. Shehu observed that the visit underscores the importance of RMAFC’s mandate in fostering fiscal efficiency and equitable revenue distribution.

“This occasion provides a unique opportunity for direct engagement between the Commission and the highest coordinating office of the Federal Government. As a constitutional body, RMAFC plays a pivotal role in Nigeria’s economic governance by ensuring fair and transparent revenue allocation among the three tiers of government,” he stated.

He reaffirmed the Commission’s commitment to supporting the Renewed Hope Agenda of President Bola Ahmed Tinubu, emphasizing the need for strategic frameworks to enhance revenue generation and fiscal sustainability.

In his address, the SGF eulogised Dr. Shehu for the transformative steps he had taken since he assumed the position of the Chairman of the Commission while congratulating the newly inaugurated Commissioners on their appointments. He added that their selection was based on integrity, competence and proven track records in the service to the nation. Senator Akume urged them to work assiduously to meet the yearnings of Nigerians.

The SGF acknowledged the significant role that the Commisdion plays in the country’s fiscal and economic governance. He noted that the duties of RMAFC impacts directly on the financial stability of the federal, state and local governments.

Senator Akume gave the assurance that the Tinubu administration was committed to transformative fiscal reforms to foster development and therefore stressed the need to expand revenue sources, curb leakages and ensure that every naira due to the Federation Account is accounted for.

He said, “The Tinubu administration is committed to implementing bold fiscal reforms, diversifying revenue sources, and enhancing economic policies to reposition Nigeria for sustainable growth. The removal of fuel subsidies, exchange rate unification, and ongoing tax reforms are critical steps toward fiscal stability. However, these policies will only succeed if institutions like RMAFC execute their mandates effectively.”

He further charged the Commission to strengthen revenue monitoring, ensure compliance by revenue-generating agencies, prioritize non-oil revenue mobilization, fast-track the review of the revenue allocation formula, align its strategies with the administration’s economic transformation agenda, and collaborate with key stakeholders, including the National Assembly, Ministry of Finance, and other relevant agencies.

“The nation expects results, and I am confident that this team will fulfill its responsibilities with diligence and excellence. Your work will shape the financial future of Nigeria, and together, we will build a stronger and more self-sufficient economy,” the SGF added.

Hon. Ismail Mohammed Agaka, Federal Commissioner representing Kwara State, who gave the vote of thanks, commended the SGF for the visit while giving the assurance that the Commission remained committed to delivering on its mandate.

“This visit has reinforced the synergy between RMAFC and the Presidency. We assure you of our unwavering commitment to national development and alignment with the administration’s policy direction,” he stated.

He further said, “This event marked a significant step in the Commission’s engagement with the presidency, reinforcing the administration’s focus on fiscal accountability, revenue growth, and national economic transformation.”

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Business

FG, Investonaire Academy Unveil National Programme to Equip 100,000 Youths with Financial Skills, Digital Wealth Tools

Published

5 days ago

November 25, 2025

The Gleamer

By Joel Ajayi

The Federal Government, in collaboration with Investonaire Academy, has unveiled a nationwide financial literacy and wealth-building programme targeting more than 100,000 young Nigerians. The initiative is designed to equip participants with practical skills in budgeting, saving, investing, asset building, and long-term financial planning, positioning them for sustainable prosperity in a rapidly evolving economy.

Launched on Tuesday in Abuja, the Honourable Minister of Youth Development, Comrade Ayodele Olawande, described financial literacy as a necessary survival tool for young people confronting today’s economic realities.

He noted that the initiative represents the foundation of a broader vision expected to extend beyond Nigeria to other African nations and global markets.

Reaffirming the Federal Government’s commitment to supporting over 4,000 corps members annually, the Minister said the programme will provide platforms, resources, and skills needed for both job creation and employability.

“The young people who understand money — how to save, invest, build assets, and manage risk — are the ones who will lead Nigeria into prosperity,” he said.

A major highlight of the launch was the expansion of the Nigeria Youth Academy, a digital platform offering mentorship, training, and startup support. According to the Minister, more than 200 startups will receive empowerment through the Academy’s e-app platform before the end of the year.

He stressed the need for deeper collaboration with private organisations, innovators, and youth-focused groups, noting that government alone cannot drive youth development. He further encouraged young Nigerians to embrace skills acquisition, innovation, and digital enterprise, saying these remain critical to reducing the desire for migration and increasing self-reliance.

Outlining the Ministry’s long-term commitments, Olawande emphasized three priorities: supporting youth innovation, equipping them with growth tools, and safeguarding millions of Nigerian youths under the Ministry’s mandate.

Speaking at the launch, Sebastien Sicre, Chief Operating Officer of Investonaire Academy, said the programme was crafted to revolutionize the way Nigerian youths learn and apply financial knowledge. He highlighted the Academy’s gamified Learning Management System (LMS), which offers interactive learning tools, community forums, and real-time mentorship to make financial education engaging and accessible.

Complementing the digital platform is a new 200-square-metre physical training centre in Abuja, opposite the NNPC Towers, where in-person workshops and mentorship sessions will take place.

The curriculum covers key global asset classes — including equities, commodities, forex, and indices — ensuring participants gain a broad understanding of financial markets.

Sicre added that with Federal Government backing, the programme seeks to unlock new opportunities, strengthen youth participation in the digital economy, and reward outstanding participants through a $1 million funding pool to support new and existing ventures.

International Programme Director of Investonaire Academy, Dr. Enefola Odiba, explained that the initiative aims to bridge long-standing gaps in financial education among Nigerian youths. While schools teach many subjects, he said, essential financial skills are often missing.

“Many people can earn money — earning money can be easy. The real challenge is retaining, managing, and growing that money,” he noted.
Referencing the Central Bank of Nigeria’s definition of financial literacy, Odiba stated that implementation remains a major national challenge. He said the initiative brings together government agencies, youth groups, academic institutions, and private-sector partners to translate strategy into measurable impact.

The programme’s curriculum covers budgeting, saving, investing, and financial planning — areas where many young people struggle. By offering practical training, real-world insights, and guided mentorship, the initiative aims to build a generation of financially empowered youth capable of driving innovation, entrepreneurship, and sustainable economic growth.

With this partnership, the Federal Government and Investonaire Academy share a common goal: to empower young Nigerians with the financial intelligence and digital tools needed to build wealth, grow businesses, and transform the nation’s economic future.

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