• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Revenue allocation review not meant to change Nigeria’s fiscal structure – FG

William Ukpe by William Ukpe
October 6, 2021
in Business News, Spotlight
FG starts the review of emoluments of political office holders, judicial staffs
Share on FacebookShare on TwitterShare on Linkedin

The Nigerian Government has said that its recent move to begin a revenue allocation review between the three tiers of government is not intended to change Nigeria’s fiscal structure through restructuring.

This was disclosed by the Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) Engr. Elias Mbam on Tuesday, in Lagos on the second day of a two-day Southwest Zonal public hearing on the review of the vertical revenue allocation formula.

The FG through the RMAFC is currently on a public hearing exercise for the review of revenue allocation, starting with representatives of the south west states.

RelatedStories

Hope rises for data protection jobs as Tinubu signs Data Protection Bill into law 

Presidency says Tinubu has not approved salary increase for politicians, others

June 22, 2023
President Bola Tinubu, Military

What Tinubu must do to reduce Nigeria’s fiscal imbalance

March 5, 2023

What RMAFC said

“Whether we are devolving power or going into complete system of federalism or we are restructuring, is not the concern of this review.

“The review of the mobilisation and revenue allocation is a product of law and an Act provided by the 1999 Constitution as amended,’’ he said.

The RMAFC boss added that legally, all issues related to which taxes can be collated would be addressed by the National Assembly, adding that if the Federal Government is confirmed to have a high responsibility, it will get an equivalent of that responsibility as allocation.

“If it is the local government that has more responsibility, it will be done the same way. Our position is that the more responsibility of a tier, the more money it gets.’’

Meanwhile at the event, the Lagos State Commissioner for Budget Planning, Mr Samuel Egube, said Nigeria needed to prepare itself for the African Continental Free Trade Area (AfCTA) through the revenue mobilisation allocation.

“The AfCTA would open up the Nigerian market for competition across Africa and all states of Nigeria would have to compete with countries in the continent,” he said.

“If we do not focus on the people and where the strengths are, we will miss it because the people that generate these resources are actually the resources.

“Sometimes, when we talk of revenue allocation, we talk about natural resources, but our natural resources will fail us if the people are not energised,’’ he added.

What you should know

Nairametrics reported earlier that the FG through the Revenue Mobilisation Allocation And Fiscal Commission (RMAFC) stated that the current review process is needed to assure fairness and also to ensure conformity with changing realities, provided that the revenue formula has been accepted by an Act of the National Assembly.

The Lagos State Governor, Babajide Sanwo-Olu called for a 42% revenue share model to states from the Federation Account.

Tags: Revenue Mobilisation Allocation and Fiscal Commission (RMAFC)
William Ukpe

William Ukpe

For further inquiries about this article contact: Email: william.ukpe@nairametrics.com or outreach@nairametrics.com. Twitter: @_sirwilliam_ @nairametrics.

Related Posts

Hope rises for data protection jobs as Tinubu signs Data Protection Bill into law 
Breaking News

Presidency says Tinubu has not approved salary increase for politicians, others

June 22, 2023
President Bola Tinubu, Military
Budget

What Tinubu must do to reduce Nigeria’s fiscal imbalance

March 5, 2023
FG starts the review of emoluments of political office holders, judicial staffs
Business News

MDAs remitted N1.5 trillion to Federation Account in Q1 2021

June 1, 2021
Next Post
WHO welcomes news of Merck’s antiviral Covid pill, awaits data ahead of approval

WHO welcomes news of Merck’s antiviral Covid pill, awaits data ahead of approval

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • CBN FORBEARANCE: New RENCAP report names banks facing dividend suspension till 2028
  • SEC to launch ‘Crypto Smart, Nigeria Strong’ initiative for stablecoin regulation 
  • Lagos Govt suspends building permits along Lagos-Calabar Coastal Highway corridor  

Follow us on social media:

Recent News

CBN FORBEARANCE: New RENCAP report names banks facing dividend suspension till 2028

June 16, 2025
SEC warns Nigerians against investing in Risevest and Stecs  

SEC to launch ‘Crypto Smart, Nigeria Strong’ initiative for stablecoin regulation 

June 16, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics