President Tinubu Mandates Commission To Lead Non oil Revenue Mobilisation

Nigeria’s President, Bola Ahmed Tinubu, has mandated the Revenue Mobilization, Allocation, and Fiscal Commission (RMAFC) to prioritize revenue generation from solid minerals, taxation, and other non-oil sectors in order to reduce the country’s dependence on crude oil and oil reserves.

The President issued this directive at the inaugural plenary meeting of the recently sworn-in Federal Commissioners of RMAFC in Abuja.

Represented by the Secretary to the Government of the Federation (SGF), Sen. George Akume, the President stated that the federal government expects key deliverables from the Commission to strengthen revenue monitoring and accountability.

“Ensure that all revenue-generating agencies comply with collection and remittance laws. Leakages must be blocked, and defaulters sanctioned. Enhance non-oil revenue mobilization. Fast-track the review of the Revenue Allocation Formula.

While noting that the existing formula has not been reviewed in over two decades, he called for a new, equitable formula necessary for national economic stability and development.

“These responsibilities place the Commission at the center of Nigeria’s fiscal and economic transformation. Your work, therefore, directly impacts the financial stability of the federal, state, and local governments. Let me reiterate that the President’s administration is committed to implementing bold fiscal reforms, revenue diversification initiatives, and economic policies that will reposition Nigeria’s economy for sustainable growth.”

“As the President himself has consistently emphasized, we must expand revenue sources, curb revenue leakages, and ensure that every Naira due to the federation account is accounted for,” he added.

He urged the Commission to work closely with the National Assembly, Ministries, Departments, and Agencies (MDAs) of government, as well as sub-national governments, to ensure a harmonized approach to revenue administration.

“Let me assure you that the government remains fully committed to providing the necessary support for the Commission to achieve its constitutional mandate.”

“I urge you all to rise to the challenge and work towards a Nigeria that is economically self-reliant and fiscally stable.”

Earlier, the Chairman of the Revenue Mobilization, Allocation, and Fiscal Commission, Dr. Mohammed Bello Shehu, emphasized that the RMAFC plays a pivotal role in Nigeria’s economic governance, especially in fostering fiscal efficiency and equitable revenue distribution.

“This occasion provides a unique opportunity for direct engagement between the Commission and the highest coordinating office of the Federal Government. As a constitutional body, the RMAFC plays a pivotal role in Nigeria’s economic governance by ensuring fair and transparent revenue allocation among the three tiers of government,” he stated.

He reaffirmed the Commission’s commitment to supporting the Renewed Hope Agenda of President Bola Ahmed Tinubu, highlighting the need for strategic frameworks to enhance revenue generation and fiscal sustainability.

Olusola Akintonde