Nigeria tasks Revenu Agency to deliver formula that supports national security, dev’t

Nigeria

The Federal Government of Nigeria led by the Secretary to the Government of the Federation (SGF), Sen. George Akume, has charged the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) to conduct thorough due diligence in developing a practical and acceptable revenue allocation formula for Nigeria.

The SGF dropped the charge yesterday during a meeting with a high-powered RMAFC delegation led by Chairman Dr. Mohammed Bello Shehu in Abuja.

Sen. Akume expressed confidence in the Commission’s capacity to deliver a comprehensive formula that meets the nation’s diverse needs. Emphasizing the importance of national security, the SGF urged that certain ministries, including the Ministry of Defence, should receive an irreducible minimum allocation to safeguard peace and territorial sovereignty.

Dr. Shehu assured that a draft of the new revenue allocation formula would soon be sent to the SGF’s office for review before being presented to the National Assembly for approval, marking a critical step toward equitable fiscal management and sustainable development for Nigeria.