THE REVENUE Mobilisation Allocation and Fiscal Commission (RMAFC) has announced that work on a revised revenue allocation system for federal, state, and local governments is in its final stages.
Dr. Mohammed Shehu, Chairman of RMAFC, revealed this during a three-day retreat for newly appointed commission members in Uyo on Wednesday.
He also stated that the agency is finalizing a new compensation framework for political and public officeholders.
Shehu emphasized that RMAFC is entering a transformative phase focused on innovation and efficiency, fostering partnerships to boost Nigeria’s economic growth. He noted that conventional revenue streams are no longer adequate to address the country’s growing demands.
“Traditional revenue sources and methods are outdated and insufficient for our current needs,” he said, adding: “We must adopt creative and collaborative strategies to unlock new opportunities for national development.”
The chairman stressed the importance of leveraging technology for improved revenue collection, transparency, and effective fund management. “Maximizing revenue is not just essential — it’s a shared duty among all stakeholders,” he added.
Shehu called on the new commissioners to contribute to shaping Nigeria’s fiscal future, urging collective efforts to enhance revenue generation and utilization. (NAN)
