• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Tuesday, June 24, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

RMAFC develops software for revenue generation, sharing

RMAFC

The Matters Press by The Matters Press
September 17, 2023
Reading Time: 2 mins read
0
Electronic collection of data from states, Councils ready by March – RMAFC

Abuja, Sept. 17, 2023: The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) says it has developed a software to enhance transparency in revenue generation and sharing amongst the three tiers of government.

RELATED POSTS

Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF

Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years

ECOWAS, Sahel states in deal to confront terrorism

The RMAFC Chairman, Mr Mohammed Shehu, said on Sunday in Abuja that the software will help the commission perform one of its major functions of reviewing the revenue allocation formula for the entire federation from time to time.

“There is something called the vertical revenue allocation formula; who gets what percentage – Federal, State or Local Government (LG).

“There is also the horizontal formula; how do you share that percentage among states and LGs.

“That means you have to consider factors like population, school enrollment, land mass, hospital beds; these are some of the indices.

“Previously what we did was to request for the required information manually, and then the commission will go and do the inspection manually,” Shehu said.

He said that the commission also got data from relevant agencies like the office of the Statistician-General of the Federation and the National Boundary Commission.

“So, we now have a software through which the states and LGs will input the required data in the system. They have a pass code.

“We will collect the data that they sent; analyse it and also send our own team to for verification, and then we will agree on how that horizontal formula will be,” he said.

According to the chairman, technology is the way to go now.

He said that in terms of revenue generation, the commission was trying to also build a data bank whereby it could monitor revenue generating agencies.

“The commission should be able to see in real time what comes into their system.

“We have already moved from multiple accounts to Treasury Single Account, but RMAFC also wants to have a system so that as revenue is coming in we are analysing it,” he said.

He called for the cooperation of all revenue generating agencies in the country in the commission’s effort to effectively ensure optimal deployment of government revenue.

“The Federal Government and the sub-national governments are concerned with how to make more revenue by also blocking leakages.

“Technology will save us the time of going through documents and help us cut down on a lot of leakages,” he said.

He said that improved funding will enhance its independence and improve efficiency in performing its statutory functions.

According to Shehu, it is important for the commission to be properly funded because when we are properly funded we are able to assert our independence much better,

He said that the commission was presently being funded from one source, which is the envelope system of the ministry of finance.

“The commission is a federation commission which deals with the national and the sub-national governments.

“We believe that the administration is looking at the funding issue, and we have appealed to the Governors’ forum and we believe they are also looking at it.

“The commission should be well funded as the funding will give us better capacity, better training, better environment, better salary, and then better productivity and better monitoring, ” he said.

Shehu said that RMAFC had potentials of becoming a world-class commission if properly funded.

“My vision is to see this commission to become a world-class commission.

“We believe that the government is interested in making more revenue and doing good things for Nigeria and they should carry RMAFC along, ” he said.

Tags: RMAFC
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

79 candidates for presidential election
News

Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF

June 23, 2025
Gombe: Troops take over to enforce peace
News

Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years

June 20, 2025
ECOWAS, Sahel states in deal to  confront terrorism
Foreign

ECOWAS, Sahel states in deal to confront terrorism

June 20, 2025
Tinubu denies manipulating NASS
Economy/Technology

Tinubu’s decision to press ahead with ongoing reforms, commendable-TMSG

June 20, 2025
Buhari urges Nigerians to maintain peace as he promises free, fair polls
Economy/Technology

TDF extols Buhari for supporting Tinubu’s reforms

June 19, 2025
Nigerians to own brand new vehicles, goods through new credit scheme initiative
News

Tinubu’s mid-term scorecard, a glimpse of coming dividends – TMSG

June 19, 2025
Next Post
Nigeria, Equatorial Guinea in talks to boost gas production

Asiko deepens gas penetration, unveils 300 metric tonnes depot in Benin

NLNG seeks partnership with NMDPRA to boost domestic gas market

Gas will play significant role in Africa’s energy mix, says NLNG

Recommended Stories

Osinbajo storms Ilorin for TraderMoni

Official rates Nigeria’s social investment programme high

July 1, 2023
Myanmar central bank revokes licenses of 13 forex companies

CPPE calls for review of increase in FX on import duty

December 11, 2023
CIIN president tasks Insurance directors on manpower development

Iinsurance grosses N1.003trn premiums in fourth 2023 – NAICOM

March 26, 2024

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF
  • Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years
  • ECOWAS, Sahel states in deal to confront terrorism

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

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

Log In
Call Us