Revenue Mobilisation Allocation and Fiscal Commission
RMAFC
About
The Revenue Mobilisation Allocation and Fiscal Commission is an agency of the Federal Republic of Nigeria that oversees the revenues accruing to the Federal Account and the disbursement of those funds. It ensures that the nation's revenue allocation formulae are consistent and equitable. The Commission reviews the revenue allocation formula every five years, sets the salaries of political office holders and public officers, monitors the inflow of revenue to prevent leakages, and advises the three tiers of government on fiscal efficiency and ways to increase revenue. It works mainly through a number of constitutional committees covering areas such as crude oil, gas, customs, inland revenue and solid minerals monitoring.
History
The agency was set up by Decree No. 49 of 1989, later amended by Decree 98 of 1993, and is now governed by the RMAFC Act CAP R7 LFN 2004 under Section 153(1) of the 1999 Constitution. A bill to repeal and re-enact the 2023 Act has passed its second reading in the National Assembly, with the aim of strengthening the Commission's monitoring and disbursement of revenue. In 2021 the Commission began dialogues on modifying the revenue sharing formula, and in April 2022 it presented a report to President Muhammadu Buhari proposing a new sharing formula. Elias Mbam was inaugurated as Chairman on 26 June 2019 and left in April 2022 to contest the Ebonyi State gubernatorial primaries, after which Mohammed Bello Shehu was sworn in as Chairman on 16 August 2022.
Source: Wikipedia: Revenue Mobilisation Allocation and Fiscal Commission
Key Facts
Established
1989
Headquarters
Plot 210, Tafawa Balewa Road, Central Business District, 900103, Abuja
Executive Chairman
Mohammed Bello
Members
a chairman and 35 members
Jurisdiction
Revenue mobilisation, Allocation and Fiscal responsibilities
Abbreviation
RMAFC
Website
rmafc.gov.ng