Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has proposed the establishment of a National Revenue Dashboard that will interface with all the revenue generating agencies in the country, to track revenues.
RMAFC said the dashboard would enhance digital real-time monitoring of revenue inflows from revenue generating agencies of government.
It also called for a framework that will enable a review of revenue allocation formula statutorily every five years.
The proposals were part of decisions in a communique after a three-day retreat for members and management staff of RMAFC, held at Ibom Hotel and Golf Resort, Uyo, Akwa Ibom State.
The retreat had the theme, “Understanding the Role of Revenue MobilisationAllocation and Fiscal Commission and other Stakeholders/Agencies in nation building.”
The communique signed by Chairman and Secretary of the commission, MuhammedShehu and Joseph Okechukwu, respectively, was read by Chairman, Public Affairs and Communication Committee of the commission, Hon. Ismail Agaka.
Part of the communique read, “The commission should establish a National Revenue Dashboard that will interface with all the revenue generating agencies for digital real-time monitoring of revenue inflows from them.
“The RMAFC should put in place mechanisms to enhance its function in the area of fiscal management as it relates to advisories on revenue, expenditures and debt management.”
The commission, in the communique, also called for a review of the revenue allocation formula every five years in line with the constitutional provision.
It added that Section 162 (2) of the constitution should be amended to specify the timeframe for the president to present RMAFC’s proposal on review of revenue allocation formula to the National Assembly upon receipt from the commission.
The commission called for constitution amendment to allow the inclusion of the local government chairmen and councillors among the beneficiaries of the remuneration package listed in the 1999 Constitution of the Federal Republic of Nigeria, as amended.
RMAFC stated, in the communique, “Section 162(6) of the constitution should be amended to ensure that the allocations of the local governments are paid directly to them from the Federation Account in line with the Supreme Court ruling delivered on July 11th, 2024 on local government financial autonomy.
“The commission should advocate for the amendment of relevant section of PIA to enable the expansion of the present Board of the Nigeria National Petroleum Company Limited to include the representatives of some major stakeholders, such as the state, local government, CBN, etc..”
