The Revenue Mobilisation Allocation and Fiscal Commission has completed the review of Nigeria’s Revenue Allocation Formula, paving the way for a new framework for sharing revenues among the Federal, state and local governments.
The commission also said it had concluded the review of remuneration for judicial office holders, while the review of salaries and allowances for executive and legislative office holders had reached an advanced stage.
The Chairman of RMAFC, Mohammed Bello Shehu, disclosed this during an interactive session with members of the Nigerian Guild of Editors in Lagos, where he presented an overview of the commission’s activities and reforms from 2023 to date.
Shehu, in a statement issued by the Head of the Information and Public Relations Unit, Maryam Yusuf, on Saturday, said the completed revenue allocation review followed extensive consultations with the three tiers of government, technical stakeholders and other relevant institutions across the country.
According to him, the exercise involved an assessment of fiscal responsibilities, revenue trends and comparative federal systems, culminating in a harmonised report and legislative proposals that are now ready for transmission to the appropriate authorities.
