FG directs RMAFC to conduct due diligence on new equitable revenue allocation formula

The Federal Government has directed the Revenue Mobilisation Allocation Fiscal Commission (RMAFC) to conduct a thorough due diligence process for the development of a new equitable revenue allocation formula for the country. This directive was given by the Secretary to the Government of the Federation (SGF), Senator George Akume, during a meeting with the RMAFC management team led by Chairman Mohammed Bello Shehu in Abuja.

Senator Akume expressed confidence in the Commission's ability to create a robust and inclusive framework that reflects the nation's fiscal reality. The new formula is expected to address funding disparities across sectors and improve public service delivery, particularly in national security, infrastructure, and social welfare.

While the current revenue allocation formula has remained unchanged for years, the proposed review aims to ensure a balanced distribution of resources among federal, state, and local governments. The new formula is anticipated to reduce the federal government's allocation and increase allocations to state and local governments.

Although the draft of the new formula has been submitted to the.