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 federation account to the three tiers of government.
The review is expected to be concluded before the end of 2021.
A statement signed by Public Relations Officer of RMAFC, Christian Nwachukwu, quoted the Chairman Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) Engr. Elias Mbam as saying this when he received members of the National Assembly Service Commission to his office in Abuja.
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.
RMAFC Chairman while further disclosing that the review of remuneration for political and Judicial office holders will equally take off as soon as the Federal government released fund for it, further stated that the RAF review is at first concentrating on the vertical formula which has to do with sharing of revenue between Federal, State and Local governments.
This will be followed by a horizontal formula which also has to do with sharing among states and among local governments.
In his address, Chairman, National Assembly Service Commission, Engr. Ahmed Khadi Amshi, assured RMAFC that Commission will not shy away from collaborating with it in the area of manpower development, saying that RMAFC has the same organizational structure as the National Assembly.
