The Revenue Mobilisation Allocation and Fiscal Commission, Elias Mbam, has said that the commission has completed plans to begin the review of the nation’s revenue sharing formula.
The Chairman of the commission,Elias Mbam,disclosed this in Abuja during a courtesy visit to his office by members of the National Assembly Service Commission led by Ahmed Amshi,said that the review of remuneration for political and judicial office holders would also take off as soon as the Federal Government released fund for it.
He said:“The Revenue Mobilisation Allocation and Fiscal Commission has concluded arrangements to fully commence the review of the nation’s revenue allocation formula.The review is targeted at equitable distribution of the accrued revenue into the federation account to the three tiers of government and this will be concluded before the end of 2021.”
Disclosing that the review of remuneration for political and judicial office holders will equally take off as soon as the Federal government released fund for it, the commission’s chairman further stated that the RAF review is at first concentrating on the vertical formula which has to do with sharing of revenue between federal, state and local governments.
He said this will be followed by a horizontal formula which also has to do with sharing among states and among local governments.”
Mbam said while the legislature may have to approve the outcome of the review, whatsoever the commission fixed was final and could not be surpassed.
“Mbam also added that while the review of remuneration for judicial and executive office holders in the federation is subjected to further legislation by national or state assemblies as the case may be for approval but not more than what RMAFC has recommended, RMAFC’s determination for legislatures at federal, state and local governments is final,” he added.
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