The Chairman of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), Dr. Mohammed Bello Shehu, OFR, has emphasised that the RMAFC plays a pivotal role in Nigeria’s economic governance. The Chairman stated this during the visit of the Secretary to the Government of the Federation (SGF), Sen. George Akume, CON, to the Commission Headquarters in Abuja Today, 25th February 2025.
During the occassion, which also served as the inaugural plenary meeting of the recently sworn-in Federal Commissioners, Dr. Shehu observed that the visit underscores the importance of RMAFC’s mandate in fostering fiscal efficiency and equitable revenue distribution.
“This occasion provides a unique opportunity for direct engagement between the Commission and the highest coordinating office of the Federal Government. As a constitutional body, RMAFC plays a pivotal role in Nigeria’s economic governance by ensuring fair and transparent revenue allocation among the three tiers of government,” he stated.
He reaffirmed the Commission’s commitment to supporting the Renewed Hope Agenda of President Bola Ahmed Tinubu, emphasizing the need for strategic frameworks to enhance revenue generation and fiscal sustainability.
In his address, the SGF eulogised Dr. Shehu for the transformative steps he had taken since he assumed the position of the Chairman of the Commission while congratulating the newly inaugurated Commissioners on their appointments. He added that their selection was based on integrity, competence and proven track records in the service to the nation. Senator Akume urged them to work assiduously to meet the yearnings of Nigerians.
The SGF acknowledged the significant role that the Commisdion plays in the country’s fiscal and economic governance. He noted that the duties of RMAFC impacts directly on the financial stability of the federal, state and local governments.
Senator Akume gave the assurance that the Tinubu administration was committed to transformative fiscal reforms to foster development and therefore stressed the need to expand revenue sources, curb leakages and ensure that every naira due to the Federation Account is accounted for.
He said, “The Tinubu administration is committed to implementing bold fiscal reforms, diversifying revenue sources, and enhancing economic policies to reposition Nigeria for sustainable growth. The removal of fuel subsidies, exchange rate unification, and ongoing tax reforms are critical steps toward fiscal stability. However, these policies will only succeed if institutions like RMAFC execute their mandates effectively.”
He further charged the Commission to strengthen revenue monitoring, ensure compliance by revenue-generating agencies, prioritize non-oil revenue mobilization, fast-track the review of the revenue allocation formula, align its strategies with the administration’s economic transformation agenda, and collaborate with key stakeholders, including the National Assembly, Ministry of Finance, and other relevant agencies.
“The nation expects results, and I am confident that this team will fulfill its responsibilities with diligence and excellence. Your work will shape the financial future of Nigeria, and together, we will build a stronger and more self-sufficient economy,” the SGF added.
Hon. Ismail Mohammed Agaka, Federal Commissioner representing Kwara State, who gave the vote of thanks, commended the SGF for the visit while giving the assurance that the Commission remained committed to delivering on its mandate.
“This visit has reinforced the synergy between RMAFC and the Presidency. We assure you of our unwavering commitment to national development and alignment with the administration’s policy direction,” he stated.
He further said, “This event marked a significant step in the Commission’s engagement with the presidency, reinforcing the administration’s focus on fiscal accountability, revenue growth, and national economic transformation.
