Vice President Kashim Shettima says the federal government is implementing targeted interventions that would stabilize the economy, expand opportunities and improve quality of lives of all Nigerians.
The Vice President stated this while declaring open the 2025 Retreat for members of the Revenue Mobilisation Allocation and Fiscal Commission, in Uyo, the Akwa Ibom State Capital.
The Vice President, who was represented by the Technical Adviser to the Vice President on Public Debt Management and Revenue Mobilization, Mr Ibrahim Natagwandu, said the present administration remains committed to repositioning the national economy through reforms aimed at reducing poverty, attracting investments and creating enabling environment for citizens to contribute to national development.
Vice President Shetima noted that the Revenue Mobilisation Allocation and Fiscal Commission has a critical role to play to ensure the success of federal government’s reform initiatives.
“I urge the Members and staff of the Revenue Mobilisation Allocation and Fiscal Commission to rededicate themselves to the aspirations of the government and the people, by upholding the principles of transparency, equity, and service excellence in the discharge of their duties.”
Chairman, Revenue Mobilisation Allocation and Fiscal Commission, Mr Mohammed Shehu, said the Retreat was designed to equip and prepare members of the Commission to deliver efficiently on the mandate of the Commission and contribute to nation building.
He said the appointment of the newly inaugurated members was not only a call to service but requires integrity, patriotism and excellence stressing that their role was pivotal to ensuring that fiscal federalism is not just a constitutional ideal but functional mechanism for unity and development.
Mr Shehu hinted that the Commission would soon come up with a new revenue allocation formula and remuneration package for political and public office holders while efforts are also ongoing in the reconciliation and verification of revenue collections from Revenue Collecting Agencies in collaboration with the Federal Inland Revenue Service, Ministry of Solid Minerals Development and the Nigeria Customs Service.
Also speaking, the Governor of Akwa Ibom State, Pastor Umo Eno, appreciated President Bola Tinubu for implementing policies that have increased revenue allocations to sub-national governments in the country.
Governor Eno however appealed to the Commission to look into the area of computation of oil revenue remittances and all the indices as they affect the 13 percent oil derivation funds for oil producing states.
He acknowledged the efforts of the Commission so far and encouraged it to do more. “The Commission is not just a federal institution but it also belongs to States and Local Government Areas. You are for everybody.” “Let me appeal to the Commission to look into the area of computing oil revenue remittances, all of the indices as it affects our 13% derivation fund for the oil producing States. We know you are doing something, but we think you can do more so that as the goose that lays the golden egg, we should not suffer. And, we strongly believe this Commission will rise to the occasion,” he stated.
The Governor commended President Bola Ahmed Tinubu for his economic reform policies, which he said would gradually transform the country for good.
“Let me at this point, express our deep appreciation to President Bola Ahmed Tinubu for the bold step he took to rejig our economy around the highly contentious issue of the removal of petrol subsidy. ‘Even though we may have experienced certain levels of hardship associated with this bold act, the effect of that courageous move today, has seen most sub-national receiving more funds from the Federation Account and this has helped us, the leaders at the sub-national levels to undertake many projects that have positively affected the lives of our people and ensure long term or sustainable growth.
The Retreat with the theme ‘’Understanding the Role of the Revenue Mobilisation Allocation and Fiscal Commission and Other Stakeholders/Agencies in Nation Building’ also featured goodwill messages from stakeholders including the Chairman, Nigeria Governors Forum, the Minister of Justice and Attorney General of the Federation as well as the Chairman, Senate Committee on National Planning and Economic Affairs, Senator Yahaya Abdullahi.
