Vice President Kassim Shettima has urged the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) to play an active role in the economic reforms of President Bola Tinubu’s administration to ensure improved revenue generation and boost economic growth.
The Vice President made this statement on Monday while declaring open the 2025 Retreat for members of the Commission, held at the Ibom Icon Hotel and Golf Resort, Uyo, Akwa Ibom State.
Shettima stated that the RMAFC could help the federal government achieve its aim of repositioning the country’s economy by optimising revenue generation through improved tax systems.
Represented by Ibrahim Natagwandu, Technical Adviser to the Vice President on Public Debt Management and Revenue Mobilisation, Shettima emphasised that the RMAFC occupies a critical position in the fiscal health and cohesion of the country.
“This retreat is more than an orientation; it is a call to national service at a time when our country is undergoing major reforms aimed at repositioning the economy and optimising our revenue generation through improved tax systems.
“The RMAFC occupies a critical place in this journey, as its work directly impacts the fiscal health and cohesion of our Federation.
“This retreat offers you the opportunity to deepen your understanding of the Commission’s mandate, internal structures, intergovernmental dynamics, and evolving fiscal realities.
“It is also a platform to align with the policy direction of the Renewed Hope Agenda, particularly in areas of revenue optimisation, economic diversification, and prudent public expenditure.”
Speaking earlier at the retreat, themed “Understanding the Role of the Revenue Mobilisation Allocation and Fiscal Commission and Other Stakeholders/Agencies in Nation Building,” the Chairman of RMAFC, Mohammed Shehu, reaffirmed the Commission’s commitment to implementing its constitutional mandate of ensuring fiscal federalism for national unity and development.
Shehu disclosed that “the Commission has reached an advanced stage in the process of coming out with a new revenue allocation and remuneration package for political and public office holders.
“Furthermore, its relevant committee(s) have started the process of carrying out the next phase of the reconciliation and verification of revenue collections from Revenue Collecting Agencies in collaboration with the Federal Inland Revenue Service (FIRS), Ministry of Solid Minerals Development, and the Nigeria Customs Service (NCS).
“The Commission is also committed to continued support and promotion of diversification programmes across the three tiers of government. In this regard, I implore the government at all levels to support agricultural development, tourism, and invest in the development of solid minerals as a means of diversifying revenue sources to meet the increased expenditure requirements of governance for development.”
The host governor, Pastor Umo Eno, commended President Bola Tinubu for taking bold economic decisions, which he said have translated into more revenue for subnational governments in the country.
“I want to express my profound appreciation to President Bola Ahmed Tinubu for some of the bold steps he has taken to rejig Nigeria’s economy, even though we may experience certain levels of hardship associated with some of the policies that he has brought to bear.
“Let me say this as governor, that some of these decisions have helped sub-nationals to receive more funding from the federation, and these have helped us as governors of sub-nationals to execute projects that can improve the lives of our people.
“If these steps were not taken, some states would not be able to pay salaries now; this means some states would have borrowed and amassed debts for generations yet unborn,” Eno said.
He, however, urged the RMAFC to address the issue of conflicting remittances regarding the 13% oil derivation fund for oil-producing states.
“Before I close, let me appeal to the Commission to look into the area of conflicting oil revenue remittances, one of the indices, as it affects our 13 per cent derivation fund to oil-producing states. We know you are doing some, but we think you can do more,” Eno concluded.
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