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Tag: RMAFC

Policy and Regulations

RMAFC inaugurates committee to verify disputed oil wells

The Federal Government has taken steps to ensure a fairer distribution of the 13 per cent derivation fund among oil-producing states through the re-verification of disputed and newly drilled oil and gas wells. This followed the inauguration of the reconstituted Inter-Agency Technical Committee by the Revenue Mobilisation Allocation and Fiscal Commission, according to a press […]

Finance

RMAFC rates Abia best-governed Nigerian state

The Chairman of the Revenue Mobilisation Allocation and Fiscal Commission, Dr Muhammed Shehu, has commended Governor Alex Otti for the prudent management of Abia State’s resources. Shehu gave the commendation on Tuesday when he and members of the commission paid a courtesy visit to Governor Otti at the governor’s Nvosi office in Isiala Ngwa South […]

featured Investment

RMAFC woos Chinese investors to boost oil, gas revenue

The Revenue Mobilisation Allocation and Fiscal Commission has begun talks with major stakeholders as part of a broader push to draw more Chinese capital into Nigeria’s oil and gas industry and grow earnings flowing into the Federation Account. Vanguard reported that in a statement issued by the Head of the Commission’s Information and Public Relations […]

Finance

RMAFC completes review of Nigeria’s revenue allocation formula

The Revenue Mobilisation Allocation and Fiscal Commission has completed the review of Nigeria’s Revenue Allocation Formula, paving the way for a new framework for sharing revenues among the Federal, state and local governments. The commission also said it had concluded the review of remuneration for judicial office holders, while the review of salaries and allowances […]

Policy and Regulations

Tax reforms must protect taxpayers’ interests, says RMAFC chairman

The Chairman of the Revenue Mobilisation Allocation and Fiscal Commission, Dr Mohammed Shehu, has said ongoing tax and revenue reforms must protect taxpayers while ensuring equitable revenue allocation across all tiers of government. According to The PUNCH, Shehu stated this while receiving a delegation of the Joint Revenue Board led by its Executive Secretary, Mr […]

Finance

Lawmakers don’t fix their salaries, RMAFC does — Senate leader

Senate Leader, Opeyemi Bamidele, has dismissed claims that federal lawmakers determine their own allowances. Rather, he insisted that salaries and official vehicle entitlements for members of the National Assembly were fixed by Revenue Mobilisation, Allocation and Fiscal Commission. The News Agency of Nigeria reported that Bamidele was reacting to a court ruling that declared national […]

RMAFC unveils revenue collection software
featured

RMAFC advances revenue formula review, begins nationwide data verification

The Revenue Mobilisation Allocation and Fiscal Commission has said the review of Nigeria’s revenue allocation formula is at an advanced stage, as it begins a nationwide data verification exercise to update the indices used for sharing revenue among the federation’s tiers of government. This was disclosed in a statement on Thursday by the Head of […]

RMAFC unveils revenue collection software
Business

RMAFC denies reports of oil wells transfer to states

The Revenue Mobilisation Allocation and Fiscal Commission has rejected a media report claiming that certain disputed crude oil and gas wells have been slated for transfer to specific oil-producing states, stressing that no such decision has been made. In a statement released on Sunday, RMAFC Chairman Dr. Mohammed Shehu said the commission had noted a […]

RMAFC unveils revenue collection software
Appointments featured

Senate confirms six commissioners for RMAFC

The Senate, on Tuesday, confirmed the appointment of six persons nominated as Commissioners for the Revenue Mobilisation, Allocation and Fiscal Commission. This confirmation followed the presentation and consideration of the report of the Senate Committee on National Planning and Economic Affairs during plenary. The Chairman of the committee, Senator Yahaya Abdullahi, who presented the report, […]

RMAFC unveils revenue collection software
Opinion

Economic diversification key to Nigeria’s fiscal stability — RMAFC

The Revenue Mobilisation Allocation and Fiscal Commission has emphasized the need for governments at all levels to embark on transformative economic diversification to meet current economic realities. Speaking at a retreat for members of the Mobilisation and Diversification Committee, RMAFC Chairman Muhammed Bello Shehu highlighted the importance of evaluating existing revenue mobilisation frameworks, exploring innovative […]

RMAFC unveils revenue collection software
featured

RMAFC launches review of political, public officeholder salaries

The Revenue Mobilisation Allocation and Fiscal Commission has officially initiated a review of the remuneration packages for political and public officeholders across Nigeria. This review could result in substantial changes to their earnings, which have remained largely unchanged for nearly two decades. In preparation for a formal announcement, the Commission is holding a strategic retreat […]

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