President Muhammadu Buhari has asked new chairman and members of the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC) to help his government in fulfilling the promise of raising 100 million from poverty level which he made in his speech on Democracy Day on June 12.
“In my speech on June 12, Democracy Day, I informed Nigerians that this administration has laid the foundation for transforming our country and liberating our people from the shackles of poverty by putting policies and measures to integrate our rural economies to the national economic grid.
“One measure is to extend credit facilities currently available to be able to encourage and support domestic production of basic goods and reduce our reliance on imported goods.
“I set a target for our country to lift 100 million Nigerians out of poverty in ten years. This commitment is to further challenge the Revenue Mobilization, Allocation and Fiscal Commission to rise to its constitutional responsibilities and mandate.”
President Buhari, who inaugurated the Commission’s chairman and members today, June 27, at the Presidential Villa, Abuja, advised the Commission to concentrate more on expanding the sources of revenue to the Federation Account and other non-oil sources including solid mineral. He asked members to use all legal ways and means to strengthen the Commission’s monitoring mechanism and block leakages of revenue from the Federations Account.
“All relevant laws and regulations on revenue collections and remittances should be fully complied with and appropriate sanctions visited on defaulters.”
President Buhari assured members that his government will continue to provide all the necessary support that will facilitate the achievement of the Commission’s constitutional mandate even as he called on the National Assembly to enact relevant enabling laws that will guarantee the Commission the legal ability to ensure that defaulters of revenue laws are appropriately sanctioned.”
He reminded members that the Commission is empowered by the Constitution to among other duties to monitor the accruals to and disbursement of revenue from the Federation Account; review, from time to time, the revenue allocation formulae and principles in operation and advise government on the need for any changes, advise the Federal, State and Local Governments on fiscal efficiency and methods by which their revenue is to be increased;
Others, he said are to determine remunerations appropriate for Political/Public Office Holders, make recommendations and submit findings by a report thereto to the government of the Federation or of the State, as the case may be, regarding the formula for the distribution of the Federation Accounts and the Local Government Accounts and discharge such other functions as may be conferred on the Commission by Constitution of the Federal Republic of Nigeria, this Act, or any other Act of the National Assembly.
“The mandate of the Commission is very wide and has an important role for our country’s economy. The Commission must be fair and just to the three Tiers and Arms of Government without compromising its core mandate.
The President said that the appointment of the Chairman and members of the Commission was carefully considered based on their proven track records of hard work and integrity.
He hoped that they will rapidly and systematically set to work to address all areas of the Commission’s mandates in a businesslike manner.