RMAFC Constitutes Standing Committees on Revenue Monitoring

By Tony Obiechina, Abuja

The Revenue Mobilization Allocation & Fiscal Commission (RMAFC) has constituted twelve Standing Committees that will drive the commission’s constitutional mandate of monitoring accruals and disbursement of revenue from the Federation Account.
Inaugurating the chairmen and members of the committees in Abuja on Thursday, the Chairman of RMAFC, Engr Elias Mbam charged them “to review from time to time, the revenue allocation formulae and principles in operation to ensure conformity to changing realities”.
According to him, the commission is also constitutionally empowered “to advise the Federal, State and Local Governments on fiscal efficiency and methods by which their revenue can be increased; and Determine remunerations appropriate for Political/Public Office Holders”. 
Mbam recalled that “during our inauguration, Mr. President directed us to concentrate more on expanding the sources of revenue to the Federation Account and other non-oil sources including solid mineral and use all legal ways and means to strengthen the Commission’s monitoring mechanism and block leakages of revenue from the Federations Account”.
He said it was In consideration of the President’s directive and to effectively discharge its constitutional mandate that “it has become absolutely necessary to constitute Standing Committees to handle respectively all the issues pertaining to our mandate”. 
He explained that the Standing Committees would be similar to that of the National Assembly, will be made up of Constitutional and In-House Committees. 
“The Committees shall carry out respectively in-depth study and work on each subject matter.The recommendations of the Committees shall be forwarded to the Plenary Session for consideration and possible approval. 
“The technical, professional, secretariat and administrative requirements of the Committees are to be provided by the Secretary to the Commission, the various Departments, Divisions and Units as well as Zonal/State Offices”, he added. 
The chairman assured that the Commission will within its available resources provide all the necessary support that will facilitate the smooth functioning of the various Committees. 
He therefore, urged the Chairmen and Members of the Committees to devise new strategies that will further improve the work processes of the Commission and strengthen the existing collaboration between the Commission and its diverse Stakeholders.  
The Committees include: Indices and Disbursement Committee; Federal Allocation Account Committee; Oil – Crude Oil Monitoring Committee; Inland Revenue Monitoring Committee; Customs Revenue Monitoring Committee; Solid Minerals Monitoring Committee.        Others are: Gas Monitoring Committee; Remuneration and Monetisation Committee; Fiscal Efficiency and Budget Committee;Mobilization and Diversification Committee; Revenue Allocation Formula Committee; Investment Committee.

Be the first to comment

Leave a Reply