FG Demands Revenue Formula That Defends Nigeria’s Sovereignty
…Defence, Critical Sectors Must Get Irreducible Minimum In RMAFC’s New Draft – SGF, Akume
Dr. Nafisat Makinde
Abuja, Nigeria
The Federal Government has declared that the forthcoming revenue allocation formula must go beyond numbers and allocations to address Nigeria’s sovereignty, peace, and equitable development.
According to a press release issued on Monday by Mr. Segun Imohiosen, Director of Information & Public Relations, Office of the Secretary to the Government of the Federation, the SGF, Senator George Akume, CON, made the declaration while receiving a delegation from the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC), led by its Chairman, Dr. Mohammed Bello Shehu, in Abuja.
Akume, while commending the Commission for its ongoing efforts, urged its management team to ensure that the new formula is both workable and acceptable, reflecting the current realities of the nation.
“Your work must deliver a formula that is not only fair and comprehensive but also one that guarantees peace, secures our sovereignty, and sustains equity across all tiers of government. Most importantly, critical sectors such as the Ministry of Defence must receive an irreducible minimum allocation, because without peace and security, there can be no development,” the SGF charged.
He further assured the Commission of the full support of his Office to ensure the timely conclusion and adoption of a revenue-sharing formula that will strengthen national unity and development.
Earlier in his remarks, the Chairman of RMAFC, Dr. Mohammed Bello Shehu, assured the SGF that the Commission is already in the final stages of drafting the new formula. He explained that the draft would soon be submitted to the SGF’s Office for further input before being transmitted to the National Assembly for consideration and approval.
“This is a process we are committed to carrying out responsibly, transparently, and with all stakeholders fully engaged. The draft will be ready shortly, and it will reflect the needs and aspirations of the nation,” Shehu said.
The meeting, which took place at the SGF’s office in Abuja, is seen as a major step in the Federal Government’s renewed efforts to review and reform Nigeria’s revenue allocation framework — a formula last comprehensively reviewed decades ago despite changing economic and security realities.