The Nigeria Governors’ Forum (NGF) has emphasised the urgency of having a new revenue allocation formula that aligns with the current economic realities.
Chairman of the Forum and Executive Governor of Kwara State, AbdulRahman AbdulRazaq, underscored the need for a review of the revenue formula which has been a work-in-progress for decades.
Represented by Razaq Fatai, Head of Data and Analytics, the Kwara State governor noted the critical role of Revenue Moblisation Allocation and Fiscal Commission (RMAFC) in repositioning Nigeria’s fiscal framework amid global economic uncertainties.
He emphasised the urgent need for a new revenue allocation formula. “A balanced and just formula is imperative for the effective delivery of public services and the deepening of democratic dividends,” he said.
However the Federal Government has lauded leadership of the RMAFC headed by Dr Mohammed Bello Shehu, for his proactive leadership and strategic initiatives aimed at strengthening Nigeria’s fiscal framework.
Speaking at the opening ceremony of the 2025 retreat for newly inaugurated members of the commission in Uyo, Akwa Ibom State, the Vice President Kashim Shettima, represented by Ibrahim Natagwandu, Technical Adviser to the Vice President on Public Debt and Revenue Mobilisation, lauded the chairman for his efforts in engaging relevant authorities to enhance the capacity of the commission to implement its mandate.
A statement issued by RMAFC spokesperson, Hajiya Maryam Umar Yusuf, noted the Vice President’s commendation of the commission for organising the retreat, saying: “I commend the leadership of the commission for initiating this engagement, which is timely, strategic, and in alignment with our administration’s vision for fiscal prudence, equity, and sustainable development.
“Let me also acknowledge the commendable efforts of the chairman of RMAFC, who has been actively pursuing improved funding to strengthen operational capacity, enhance data-driven decision-making, and ensure the effective discharge of its constitutional responsibilities.”
In his goodwill message, the Akwa Ibom State Governor, Umo Eno Bassey, welcomed participants to the state and praised Dr Shehu for his visionary leadership even as he highlighted the importance of the commission’s work in promoting inter-governmental collaboration.
