The Federal Government has commenced a comprehensive revenue recovery exercise aimed at plugging leakages and strengthening Nigeria’s fiscal governance.
The initiative was formally launched at the headquarters of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) in Abuja, during the inauguration of consultants engaged for the revenue recovery project.
Speaking at the event, RMAFC Chairman, Dr. Mohammed Bello Shehu, reaffirmed the Commission’s commitment to ensuring that all revenues due to the Federation are fully accounted for and remitted into the Federation Account.
“This exercise is not a routine administrative action, but a deliberate, result-oriented innovation designed to strengthen fiscal governance and ensure every recoverable naira due to the Federation is transparently remitted,” he stated.
Strategic move to boost fiscal capacity
Dr. Shehu described the engagement of consultants as a strategic move aligned with President Bola Tinubu’s Renewed Hope Agenda, noting that it would help enhance transparency, plug leakages, and boost the fiscal capacity of the three tiers of government.
“In line with the constitutional responsibility of the Commission and with the full support of Mr. President and the Special Adviser to the President on Revenue, as well as the Executive Chairman of the FIRS, this initiative seeks to identify and recover unremitted revenues across sectors of the economy,” he added.
Representing the Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Shettima Tamadi, Coordinating Director at FIRS, inaugurated the consultants and commended the RMAFC for its proactive leadership.
“Nigeria has a huge revenue gap, but with stronger collaboration between agencies and partners, we can bridge that gap and achieve sustainable fiscal growth,” Tamadi said.
Consultants urged to deliver
Also speaking, Mr. Joseph Nwaeze Okechukwu, Secretary to the Commission, urged the consultants to deliver the assignment within the stipulated six-month timeframe and ensure that all recoverable funds are promptly returned to the Federation Account.
Delivering an acceptance speech on behalf of the consultants, Mr. Temitayo Ojeleke, the lead consultant, described the engagement as a national call to duty and pledged full commitment to transparency and measurable results.
“We accept this assignment as partners in Nigeria’s economic renewal, ready to deliver results that will strengthen the nation’s revenue base,” Ojeleke stated.
The inauguration marks a significant milestone in RMAFC’s broader drive to enhance inter-agency collaboration, improve accountability, and maximize revenue generation for the collective benefit of the Federation.
What you should know
- In August, the Federal Government had instructed RMAFC to undertake a comprehensive due diligence process in the development of a new and equitable revenue allocation formula for the country.
- The directive was issued by the Secretary to the Government of the Federation (SGF), Senator George Akume, during a meeting with the RMAFC management team led by its Chairman, Dr. Mohammed Bello Shehu, at the SGF’s office.
- According to Segun Imohiosen, Director of Information & Public Relations, Senator Akume expressed confidence in the Commission’s ability to deliver a robust and inclusive framework that reflects the nation’s fiscal realities.
