Review Of Revenue Formula Now At Advanced Stage – Fiscal Commission

Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has said the ongoing review of the revenue allocation formula has reached an advanced stage.

The chairman of the commission, Mohammed Bello Shehu, stated this when he led a team of the management on a visit to Abia State governor, Alex Otti, in his office in Nvosi.

The commissioner representing Ekiti State at the commission, Omowumi Ogunlola, who led the team on Shehu’s behalf, appealed to the state government to provide the delegation with the relevant data and records.

He said the country’s revenue allocation system was built on a set of parameters and indices designed to ensure fairness, equity and justice in the distribution of national resources.

“It is therefore imperative that the data underpinning these indices are periodically verified and updated to reflect present-day realities,” the RMAFC chairman said.

Responding, the governor assured the team of his administration’s support for the commission and stressed the need for regular review of the formula

His words, “We are happy that you are here on this national data verification exercise and you can be assured that our team will provide you with all the support and information you require.”

The governor explained that the commissioner for Finance and his team had been mandated to pay attention to any information that the team would require.

“Information available to me is that we have been working well together, and I am sure that we will make your assignment seamless and easy,” Otti said.