The Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Dr. Mohammed Bello Shehu, has reaffirmed the Commission’s commitment to producing a new, equitable, and data-driven Revenue Allocation Formula that reflects Nigeria’s current economic and constitutional realities.
Speaking at a panel discussion titled “Recalibrating Nigeria’s Revenue Allocation Formula” held in Abuja Dr. Shehu noted that the existing formula approved in 1992 no longer mirrors the country’s fiscal responsibilities, demographic shifts, or governance structure.
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He explained that recent amendments to the RMAFC Act now empower the Commission to engage directly with private sector entities, including oil companies, in verifying and recovering revenues due to the Federation.
Chairman of the Senate Committee on National Planning and Economic Affairs, Senator Yahaya Abdullahi, CON, noted that reforms can only succeed with political consensus and shared national vision.
Representing the Nigeria Governors’ Forum (NGF), Dr. Abdulateef Shittu delivered remarks on behalf of Governor Abdulrahman Abdulrazaq of Kwara State, commending RMAFC for providing a neutral platform for dialogue between federal and subnational governments.
He pledged the Forum’s support for a fair and workable formula.
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The Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, CON, described the review as crucial to national stability, noting that the Constitution envisions cooperation among all tiers of government.
Also speaking, 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 goals.
The panel, moderated by veteran broadcaster Eugenia Abu, featured experts including Prof. Auwalu Yadudu, Dr. Iyobosa Uwugiaren, Prof. Nazifi Darma, and Prof. Muhammad Muttaka Usman. Discussions explored constitutional, legal, and economic dimensions of revenue sharing, with consensus on the need for fiscal responsibility, innovation, and greater subnational accountability.
Stakeholders at the event advised that state and local governments be empowered with more responsibilities and resources to better serve the people.