The new chairman of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), Mohammed Bello has assured that the commission will assist President Muhammadu Buhari’s administration to get more revenue for the federation, block leakages, implement the constitutional responsibility of the commission.
He made the promise on Wednesday in a chart with State House correspondents after his swearing-in ceremony by President Buhari at the presidential villa.
While admitting that the task ahead is challenging, he assured us that the commission will implement its constitutional responsibility of the Commission.
The responsibility of the commission includes monitoring of accruals to the Federation Account and disbursement, and also monetization, and taking care of the salaries of political office holders, and judicial officers, as enshrined in the Constitution that had not been reviewed since 2008 (29 years).
Bello said: “The task is challenging. We all know the situation that Nigeria is, or even globally when you look at contemporary African countries like South Africa, Ethiopia, Ghana, and Egypt, and all the economic issues that are facing including Nigeria.
“We had the COVID-19, we had a recession, we now have the war with Ukraine, which has affected many countries and revenues are down all over.
“So, our task, as revenue mobilization is how we can assist Mr. President, to get more revenue for the Federation, block leakages, looking at the constitutional responsibility of the Commission, which of course are, monitoring of accruals to Federation account and disbursement, and also monetization, taking care of the salaries of political office holders, and judicial officers, as enshrined in the Constitution that had not been reviewed since 2008. And I think there is agitation for that.”
Mr Bello said the nation’s revenue allocation formula had not been reviewed for about 29 years. The Nigeria’s constitution prescribes a five-year review period for the formula. More states had been created since the last time the revenue sharing formular was amended.
Bello said his administration will focus on how it can get more revenue for Mr President. He acknowledged the fact that there has been a debate on whether there is an operating surplus by agencies of government. Some agencies of government claim that what they are getting is a surplus of revenue.
“Revenue is revenue as far as the commission is concerned,” Bello said, stating that “my task is to get our members to respond to the task that Mr President gave them in 2019 when he swore in the new board that tries as much as possible to get more revenue and strengthen your monitoring mechanism.
That is what we are going to do with all the stakeholders Federal Inland Revenue Service (FIRS) and Nigerian National Petroleum Company Limited (NNPCL), the Federal Ministry of Finance, every revenue generating agency, we have to collaborate and corroborate to be able to assist Mr. President to get more revenue before he leaves office. This is a task that should be done by every meaningful member of the commission.”
On what he was assuring the president as he assumes duty, the RAMFC chairman said: “Well, I can assure him that the commission, as one of the 14 constitutional Commissions will do whatever it takes to assist him to look for more revenues before he leaves office. And also, we will maintain our independence like it had been enshrined in the constitution,” he said.
