Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mohammed Shehu, has announced a plan to review the existing revenue allocation formula and the remuneration packages for political and public office holders.
Shehu said this during the opening ceremony of a 2025 retreat for newly inaugurated members of the Commission, held in Uyo, Akwa Ibom State.
He said the Commission is the custodian of the fiscal soul of the federation.
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Shehu urged governments at all levels to invest in non-oil sectors such as agriculture, tourism, and solid minerals to diversify revenue sources.
He affirmed the Commission’s full alignment with the Renewed Hope Agenda of President Bola Tinubu.
However, the federal government (FG) commended Shehu for his dynamic leadership and commitment to strengthening Nigeria’s fiscal governance.
Representing Vice President Kashim Shettima, the Technical Adviser on Public Debt and Revenue Mobilisation, Ibrahim Natagwandu, lauded the Chairman for his proactive efforts to boost the Commission’s capacity and enhance fiscal discipline.
He praised Shehu’s drive to secure improved funding, embrace data-driven decision-making, and ensure the effective discharge of RMAFC’s constitutional responsibilities.
In a goodwill message, Akwa Ibom State Governor Umo Eno welcomed participants and praised Shehu’s visionary leadership.
He described the retreat’s location as a testament to the State’s commitment to national development and pledged support for efforts aimed at deepening fiscal federalism and strengthening intergovernmental financial collaboration.
Chairman of the Nigeria Governors’ Forum and Governor of Kwara State, Abdulrahman Abdulrazaq, represented by Razaq Fatai, Head of Data and Analytics, stressed the urgency of a new revenue allocation formula.
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“A balanced and just formula is imperative for the effective delivery of public services and the deepening of democratic dividends,” he said, urging the Commission to continue its reform-focused agenda amid economic uncertainties.
The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, represented by Barrister Imarha Ogehnenyerowo Ruben, pledged the Ministry’s support in addressing legal challenges hindering the Commission’s operations.
He reaffirmed the Ministry’s readiness to work with RMAFC and the National Assembly to enact necessary reforms to clarify statutory and constitutional ambiguities.
Yahaya Abdullahi, Chairman of the Senate Committee on National Planning and Economic Affairs, praised RMAFC’s impact across all tiers of government and called for stronger legislative backing for the Commission’s reform agenda.
