Maryam Aminu
A new dawn may be on the horizon for Nigeria’s fiscal framework as the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) intensifies efforts to deliver a modern, equitable, and data-driven revenue allocation formula that reflects the nation’s current economic and governance realities.
Speaking during a high-level panel discussion themed “Recalibrating Nigeria’s Revenue Allocation Formula,” held at the Transcorp Hilton Hotel, Abuja, the Chairman of RMAFC, Dr. Mohammed Bello Shehu, OFR, said the review is long overdue, noting that the existing formula approved in 1992 no longer captures the country’s fiscal responsibilities, population dynamics, or developmental needs.
Dr. Shehu emphasised that recent amendments to the RMAFC Act have empowered the Commission to engage directly with private sector entities, including oil companies, to verify and recover revenues due to the Federation.
He stressed that transparency and accountability are critical to achieving sustainable national development.
“Our goal is to design a formula that empowers subnational governments to meet their constitutional obligations effectively while maintaining national cohesion and macroeconomic stability,” he said. “The choices we make here will shape how governments deliver education, healthcare, and infrastructure to our people.”
Also speaking, Senator Yahaya Abdullahi, CON, Chairman of the Senate Committee on National Planning and Economic Affairs, underscored the importance of political will in driving fiscal reform, saying that “no matter how brilliant the ideas are, progress will remain elusive without political consensus and a shared national vision.”
Representing the Chairman of the Nigeria Governors’ Forum, Governor Abdulrahman Abdulrazaq of Kwara State, Dr. Abdulateef Shittu commended the Commission for creating a neutral platform for dialogue between the federal and subnational governments, pledging the Forum’s full support for a “just and workable formula.”
The Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, CON, described the initiative as a vital step toward national stability, stressing that “equity must begin with revenue mobilisation, not merely allocation.”
Similarly, Hajiya Hadiza Bala Usman, Special Adviser to the President on Policy Coordination, urged for a “courageous and conclusive review” that aligns fiscal reforms with Nigeria’s development priorities.
The panel session, moderated by veteran broadcaster Eugenia Abu, featured contributions from renowned experts, including Prof. Auwalu Yadudu, Dr. Iyobosa Uwugiaren, Prof. Nazifi Darma, and Prof. Muhammad Muttaka Usman. The discussion examined constitutional, legal, and economic dimensions of revenue allocation, with panelists advocating for a formula that encourages fiscal discipline, innovation, and accountability at the subnational level.
In his closing remarks, Alhaji Kabir Mashi, OON, Chairman of the Revenue Allocation Formula Committee, expressed gratitude to participants and assured that all recommendations will be integrated into a fair, balanced, and sustainable revenue-sharing model for Nigeria.
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