The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) says it is strengthening Nigeria’s fiscal governance through institutional reforms, digital transformation, enhanced revenue monitoring and transparent allocation of Federation revenues.
Chairman of the Commission, Dr. Mohammed Bello Shehu, stated this during an interview with journalists at the RMAFC Headquarters in Abuja.
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Dr. Shehu described RMAFC as a strategic constitutional institution responsible for safeguarding Nigeria’s revenue architecture and ensuring that revenues due to the Federation Account are properly accounted for and equitably distributed.
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He said the Commission derives its mandate from Paragraph 32, Part I of the Third Schedule to the 1999 Constitution of the Federal Republic of Nigeria, as amended.
According to him, RMAFC’s responsibilities extend beyond revenue sharing to monitoring revenues accruing to the Federation Account, tracking disbursements, advising governments on revenue enhancement and recommending the revenue allocation formula among the Federal, State and Local Governments.
Dr. Shehu said the Commission monitors revenues collected by major revenue-generating agencies, including the Nigerian National Petroleum Company Limited, the Nigerian Revenue Service, the Nigeria Customs Service and other relevant institutions.
He explained that the Commission conducts monthly reconciliation exercises through the Federation Account Allocation Committee, FAAC, involving representatives of the Federal Government, States and revenue-generating agencies.
The Chairman said discrepancies identified during the reconciliation process are subjected to further scrutiny, with relevant agencies required to provide documentary evidence to support reported figures.
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He stressed that the process was designed to ensure that no revenue due to the Federation is lost.
Dr. Shehu also disclosed that the Commission is digitising its revenue monitoring operations through electronic monitoring systems, live-source data integration, advanced data analytics and the establishment of an internal data storage and research facility.
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He said the digital transformation programme would enable near real-time monitoring and reconciliation of Federation revenues while improving operational efficiency and decision-making.
The Chairman said the reform agenda also includes staff capacity development, recruitment of young technical professionals, improved staff welfare, office modernisation and legal reforms aimed at strengthening the Commission’s operational independence.
On Nigeria’s economic future, Dr. Shehu called for greater diversification of the country’s revenue base to reduce dependence on oil.
He identified agriculture, solid minerals, tourism, entertainment, technology, digital innovation and human capital development as areas with significant potential to generate additional revenue for the country.
The RMAFC Chairman stressed that unlocking these opportunities would require appropriate policies, stronger legal frameworks, improved security and greater institutional coordination.
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He reaffirmed his commitment to building a transparent, resilient and professionally driven Commission capable of sustaining effective fiscal governance beyond individual administrations.
Dr. Shehu said strengthening institutional continuity and public confidence in revenue management remains central to ensuring that Nigeria’s fiscal system serves the interests of present and future generations.