Abuja: The Federal Government has urged the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) to sanction all revenue-generating agencies that refuse to comply with the collection and remittance laws. Sen. George Akume, Secretary to the Government of the Federation (SGF), gave the directive during the Inaugural Plenary Session following the inauguration of appointed commissioners of RMAFC.
According to News Agency of Nigeria, Akume emphasized that RMAFC is expected to enhance non-oil revenue mobilisation and prioritise revenue generation from solid minerals, taxation, and other non-oil sectors to reduce dependence on crude oil. He highlighted the government’s expectation for key deliverables from the commission in areas such as revenue monitoring and accountability. Akume stated that all revenue-generating agencies must comply with collection and remittance laws, and that leakages must be blocked with defaulters facing sanctions.
Furthermore, Akume urged the commission to expedite the review of the revenue allocation formula, noting that it has not been reviewed in over two decades. He stressed that a new equitable formula is essential for national economic stability and development. The commission was also encouraged to support the government’s fiscal policies and align its strategies with the administration’s economic transformation agenda to create a robust, self-sustaining revenue framework.
The SGF highlighted the importance of collaborating with relevant stakeholders, including the National Assembly, to ensure a harmonised approach to revenue administration. He pointed out that the removal of fuel subsidies, exchange rate unification, and ongoing tax reforms were strategic moves to ensure fiscal stability. Success of these policies, he added, hinges on the commission’s resolve to implement them effectively.
Dr. Mohammed Shehu, Chairman of RMAFC, assured that the commission is committed to fostering inter-governmental collaboration and aligning with government policies. He noted the commission’s vital role in ensuring fair and transparent revenue allocation among the three tiers of government. The commission, Shehu explained, is actively working on developing frameworks that enhance revenue generation, fiscal sustainability, and equitable distribution in accordance with national development priorities.
Further supporting this sentiment, Mr. Ismail Agaka, Commissioner Representing Kwara in the commission, pledged that the commissioners would work diligently to achieve the mandates and objectives of the RMAFC. Agaka expressed gratitude to the SGF, chairman, and the commission’s management for facilitating the inauguration and assured of their commitment to supporting the commission’s goals.