The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has concluded arrangements to fully commence the review of the Nation’s Revenue Allocation Formula (RAF).
The review is targeted at equitable distribution of the accrued revenue into the fed to the three tierseration account of government and this will be concluded before the end of 2021.
The Chairman Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) Engr. Elias Mbam disclosed this recently in Abuja while receiving members of the National Assembly service Commission led by Engr. Ahmed Khadi Amshi on a courtesy visit to his office.
Mbam stated that RMAFC is one of the 14 executive bodies contained in the 1999 constitution as amended and saddled with the statutory function of reviewing from time to time the Revenue Allocation Formula and principles in operation to ensure conformity with changing realities alongside monitoring appropriate revenue accruals to the federation account by the revenue generating agencies.
This will be followed by a horizontal formula which also has to do with sharing among states and among local governments. https://scudnewsng.com
In his speech, Engr. Ahmed Amshi thanked the RMAFC boss for hosting him and his team while pledging the collaboration of the National Assembly Commission in the area of manpower development considering that, RMAFC has the same organizational structure as the National Assembly.
Amshi appreciated RMAFC in its mandate of boosting the revenue generation of the Nation and its equitable distribution to the three tiers of government.
Engr. Mbam also added that while the review of remuneration for judicial and Executive office holders in the Federation is subjected to further legislation by National or State Assemblies as the case may be for approval but not more than what RMAFC has recommended, RMAFC’S determination for legislatures at Federal, State and Local government is final.
