Nigeria's revenue allocation formula review reaches advanced stage, nationwide data verification begins
via Punch Nigeria3 min read
Nigeria's Revenue Mobilisation Allocation and Fiscal Commission RMAFC has announced that the review of the nation's revenue allocation formula is in an advanced stage. The commission has initiated a nationwide data verification exercise to update the indices used for revenue sharing across the federation. Maryam Yusuf, Head of Information and Public Relations Unit, stated that Chairman Mohammed Shehu emphasized the commission's commitment to ensuring the framework reflects current realities, highlighting accurate data as crucial for fairness, equity, and national cohesion. The exercise aims to align allocations with present socio-economic conditions by reviewing factors and proxies used for states and local governments. This process is expected to strengthen fiscal federalism and improve national development planning. The verification will involve collecting, validating, and reconciling socio-economic and infrastructural data across all states and the Federal Capital Territory, focusing on indicators like education, healthcare, internally generated revenue, and infrastructure. Stakeholder engagement sessions will be held in each state to foster transparency and collaboration. Shehu noted that Nigeria's revenue allocation framework relies on indices such as population, landmass, and infrastructure, which require periodic review due to transformations like population growth, urbanisation, and widening development gaps. The data verification is critical for safeguarding the inte
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