RMAFC introduces new technology to enhance revenue allocation review
The Revenue Mobilisation Allocation and Fiscal Commission has said that it is making proper preparations to ensure it enhances the process of reviewing the horizontal revenue allocation formula.
In a statement signed by the commission’s spokesman, Nwachukwu Christian, the RMAFC said it was introducing a software that would help in data collection on indices for the review process, and training government officials in that regard.
The statement reads in part; “The Revenue Mobilisation Allocation and Fiscal Commission is set to roll out a proprietary software for the collection of data on the indices to be used for the horizontal Revenue Allocation Formula for the nation.”
In the statement, the Commission noted that the selected officials of states and local governments, including area councils of the Federal Capital Territory, would be trained to get an in-depth understanding of and operation of the electronic platform that the commission would use in data collection as it prepares to review the indices for the Horizontal Revenue Allocation Formula for the nation.
The statement added, “the RMAFC chairman further stated that pursuant to its mandate to review the indices used for the Horizontal Revenue Allocation Formula from time to time in line with the changing realities, the Commission is deploying the latest information technology tools to minimize the human interface in indices data collection, thereby promoting objectivity, transparency, justice and equity in revenue allocation.”
The review wa targeted at the equitable distribution of the accrued revenue into the Federation Account to the three tiers of government and it was to be concluded before the end of 2021.
However, the commission failed to meet its deadline in 2021 and ended up submitting its report on the review of the vertical revenue allocation formula to the President, Muhammadu Buhari, in April this year.
In the report, the proposed vertical revenue allocation formula was 45.17 percent for the Federal Government, 29.79 percent for state governments and 21.04 percent for local governments.
RMAFC/Punch/Hauwa Abu
