Revenue allocation review moves forward, says RMAFC chairman
The Revenue Mobilisation Allocation and Fiscal Commission is advancing its review of Nigeria’s revenue allocation formula. Mohammed Shehu, the commission’s chairman, emphasized the importance of accurate data for fairness and equity in revenue sharing. The commission has begun a nationwide data verification exercise to update the indices used in distributing revenue among states and local governments. Stakeholders across the country are being urged to cooperate with the process.
TLDR
- Mohammed Shehu stated that the commission is committed to ensuring Nigeria’s revenue allocation framework reflects current realities.
- The ongoing nationwide data verification exercise aims to update the factors and proxies used in revenue sharing.
- The process will involve collecting and validating socio-economic and infrastructural data across all states and the Federal Capital Territory.
- Stakeholder engagement sessions will be held in each state to promote transparency and collaboration.
- The commission highlighted that the exercise is both a statutory obligation and a strategic initiative to support evidence-based policymaking.
