Guardian RMAFC to release new revenue formula soon TUESDAY, 10 SEPTEMBER 2013 00:00 FROM JOHN OGIJI, MINNA NEWS -NATIONAL CONSULTATIONS on the new revenue formula for the nation’s three tiers of government is almost concluded and the final arrangement is expected before the end of the year, Chairman of the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC), Mr. Elias Mbam, has assured Nigerians. Mbam, who disclosed this to newsmen in Minna yesterday shortly after a nationwide meeting with some stakeholders on the new revenue formula for the country, said that already, the process leading to final recommendation on the new formula has reached 90 per cent. He said he was in Minna to consult with some stakeholders, especially former heads of state, to enable them “come out with the formula that will reflect the wishes of Nigerians.” According to him, “the essence of this nationwide exercise, which is one of the processes of the review, is to have input from stakeholders in all sections.” The RMAFC boss said the review became necessary because of many changes that had occurred since the last review and therefore, the need to reflect current reality. To avoid the mistake of the past when similar exercise had failed, he explained that the commission has visited the 774 local councils in the country. In addition to that, he stressed that the agency was also reviewing past literatures to find out why past exercises failed. However, he was optimistic that the outcome of this exercise would reflect the wishes of Nigerians. He added: “What is critical at the moment is the responsibility each tier is carrying, and the question is, is the percentage they are getting adequate? At the end, Nigerians will agree that there is need for adjustment.”
Posted on: Tue, 10 Sep 2013 08:12:08 +0000
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