Allocation
By Vivian Emoni
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has urged efficient resource allocation, transparency and accountability to promote sustainable economic growth and strengthen Nigeria’s fiscal governance.
Dr Mohammed Shehu, Chairman of the RMASC, said this in a statement issued by Maryam Yusuf, Head, Information and Public Relations Unit of the commission, on Tuesday in Abuja.
Shehu was represented by the Commissioner, Representing Oyo State, in the commission, Mr Kolade Abimbola, made the call at a stakeholders’ strategic retreat organised by the House of Representatives Committee on Finance in Lagos State.
The theme of the retreat is “Beyond Collection: Revenue Mobilisation for Economic Growth – Building Strategies for Efficient Resource Allocation.”
He described the retreat as a platform to strengthen domestic revenue mobilisation.
The chairman said that Nigeria had made progress in expanding non-oil revenue through reforms, institutional strengthening and digitisation.
He noted that greater efforts were needed to improve compliance, eliminate leakages and strengthen collaboration among institutions.
According to him, sustainable development depends on generating revenue and ensuring public resources are efficiently utilised.
“The conversation must now move beyond simply collecting revenue. Every naira mobilised must be efficiently allocated, prudently managed, transparently accounted for and strategically invested,” he said.
Shehu reaffirmed RMAFC’s constitutional responsibility to monitor Federation Account accruals and disbursements and review the revenue allocation formula.
He said stronger collaboration among fiscal institutions, lawmakers, sub-national governments and the private sector would improve transparency and reduce revenue leakages.
He added that technologies such as artificial intelligence, data analytics and digital monitoring would strengthen evidence-based fiscal decision-making.
He expressed confidence that the retreat would produce practical recommendations to strengthen Nigeria’s fiscal governance and support long-term economic development.
Chairman of the House of Representatives Committee on Finance, James Faleke, commended RMAFC for organising the retreat.
Faleke said the initiative aligned with President Bola Tinubu’s Renewed Hope Agenda.
He stressed that increased revenue would only achieve meaningful impact through prudent allocation, effective oversight and fiscal discipline.
“Revenue, on its own, does not build roads, equip hospitals or improve lives. Prudent allocation, effective oversight and fiscal discipline transform public resources into development outcomes.”
Faleke urged participants to develop practical recommendations that would strengthen legislative oversight and improve fiscal management.
Speaking with journalists on the sidelines of the event, Abimbola said the commission was advancing plans to deploy a real-time digital revenue monitoring dashboard.
He said the initiative would strengthen oversight, improve transparency, reduce leakages and enhance revenue remittance monitoring across government agencies.
Commissioner representing Abia State in the commission, Mrs Linda Oti, described the retreat as timely and urged participants to produce practical recommendations for stronger fiscal governance.
The retreat featured technical sessions and panel discussions on domestic revenue mobilisation, fiscal sustainability, resource allocation and technology-driven public financial management.
Participants expressed optimism that the retreat would strengthen revenue mobilisation, improve fiscal discipline and support sustainable economic growth.