Latest News

Revised revenue formula to be submitted to FG by December, says RMAFC

Published by
Tribune Online
4 years ago

Chairman, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Chief Elias Mba

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has said that the revised revenue allocation formula will be ready for submission to the Federal Government by the end of 2021.
The current review of the revenue allocation formula, which is one of the major responsibilities of the commission, is coming 28 years after the last one was done in 1992.
Chairman of the RMAFC, Mr Elias Mbam, made this known during the public hearing on the review of the vertical revenue allocation formula for the Northeast zone held in Gombe.
Mbam stated that the commission was committed to ensuring that the new revenue allocation formula captured the yearnings and developmental aspirations of Nigerians.
“The commission conducted similar exercises in other five geopolitical zones of the country in order to obtain relevant data from relevant agencies for use in the review process.
”The wider engagement of stakeholders in the process of data gathering was to ensure an all-encompassing and inclusive process,” he said.
He said that studies on fiscal matters relating to the allocation of federation revenues were also being carried out, adding that the processes were aimed at ensuring that the new revenue formula would be “fair, just and equitable.”
He expressed confidence that the participation and contributions in the public hearing would enrich the outcome and assist the commission in coming up with a revenue formula that would be acceptable to the majority of Nigerians.
The chairman called for support at all levels of the review process to ensure that the process was brought to its “logical conclusion.”
While declaring the public hearing open, Governor Inuwa Yahaya of Gombe State said that the hearing was apt and timely.
Yahaya said that the hearing would enable them to review the challenges of economic development and an avenue for a “diagnostic review of issues confronting revenue generation.”
“I urge resource persons and participants to discuss the issues at stake dispassionately in order to chart a way forward towards achieving the noble objectives of this workshop,” he said.
In the current sharing arrangement, the Federal Government (including special funds) is entitled to 52.68 per cent while state governments receive 26.72 per cent and local governments receive 20.6 per cent.

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

Viral Voice Note On WhatsApp Billing False

Claim: A viral WhatsApp voice note, purportedly made by the director and CEO of WhatsApp, claims users will have to start paying for WhatsApp services.

Verdict: The viral WhatsApp voice note claim is a hoax. The content is not new and has been circulated as a broadcast message several times in the past.

Experts Say Mixture Of Snail Slime, Evaporated Milk Cannot Cure Stroke

CLAIM: A Facebook user claims water gotten from snails (snail slime) and peak milk can cure partial or full stroke.

VERDICT: The claim that water gotten from snails (snail slime) and peak milk can cure partial or full stroke is false.

FULL STORY: On July 26, 2020, a Facebook user, Prince Nnamdi Enyinnaya Emelelu Eluwa, in a post claimed that water gotten from snails (Snail slime) and peak milk can cure partial or full stroke. The post which is over a year old has recently been reshared by other Facebook users.

Marburg Virus: What You Need To Know About Disease Recently Detected In West Africa

On Monday, August 9, 2021, the World Health Organisation (WHO) confirmed the first case of Marburg virus in West Africa in Guinea. This development has sent shivers down the spines of West Africans who are still grappling with the effects of the coronavirus pandemic. But before this dreaded disease is greeted by rumours and misinformation, here is what you have to know about the virus.APC states to establish Health Emergency Trust Fund…

FACT CHECK: US Did Not Give Nigeria 48 Hours Ultimatum To Detain Abba Kyari

CLAIM: Several social media posts claim the United States of America (USA) gave Nigeria’s Federal Government 48 hours to detain suspended Deputy Police Commissioner, Abba Kyari, or face severe sanctions.

VERDICT: The claim is false and misleading. The US did not give Nigerian Federal Government 48 hours ultimatum to detain Abba Kyari.

Share
Published by
Tribune Online
4 years ago

Recent Posts

Tax reform laws: Five categories of people, entities that will no longer pay certain taxes

Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, in an interview…

1 minute ago

Family of five killed in Iranian missile strike after fleeing Ukraine for safety in Israel

“Last night,” he added quietly, “I sent her voice messages.”

37 minutes ago

Court dissolves marriage on couple’s agreement

An Area Court sitting in Ilorin, Kwara State, has dissolved the Islamic marriage between one…

38 minutes ago

My ex-wife wants to kill me, man cries to court

A businessman, Abdulrazak Yunusa on Monday dragged his former wife, Latifat Sanusi, before a Sharia…

48 minutes ago

Jeff Bezos, Lauren Sánchez wed in Venice

Sánchez captioned the post with the date “06/27/2025” and a pink heart emoji.

55 minutes ago

Lagos community cries out over incessant robbery attacks

According to her, robbery incidents are rampant along the Costain and National Theatre axis, calling…

60 minutes ago

Welcome

Install

This website uses cookies.