Revenue, Mobilization, Allocation & Fiscal Commission
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 also ensures conformity and equity in the nation's revenue allocation formulae. The Commission reviews the revenue allocation formula every five years, fixes salaries of political office holders and public officers, monitors revenue inflows to block leakages, and advises the three tiers of government on fiscal efficiency and ways to increase revenue. It works mainly through a set of constitutional committees covering areas such as crude oil and gas monitoring, federation account disbursement, and customs and inland revenue 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 Act, passed a second reading in the National Assembly, seeks to strengthen the Commission's monitoring and disbursement of revenue inflows. The Commission has a chairman and 35 members, one from each State and the Federal Capital Territory, all appointed by the President. Elias Mbam was inaugurated as Chairman on 26 June 2019 and left in April 2022 to contest the Ebonyi State gubernatorial primaries. Mohammed Bello Shehu was sworn in as the new Chairman on 16 August 2022. In April 2022 the Commission presented a proposed revenue sharing formula to the President that would reduce the federal share from 52.68 to 45.17 percent and increase the shares for states and local governments.
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
35 members from each State and the Federal Capital Territory, plus a chairman
Jurisdiction
Federal Republic of Nigeria
Abbreviation
RMAFC
Website
rmafc.gov.ng