The finance committee approves RMAFC’s 2025 budget with an expectation of 40 percent implementation in two months
The House of Representatives Committee on Finance has approved a budget proposal of N105.14 billion for the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) for the 2025 fiscal year.
The approval was granted during a budget defence session on Tuesday at the National Assembly in Abuja, where the RMAFC Chairman, Mr. Mohammed Shehu, presented the commission’s 2025 budget estimates before the Rep. James Faleke-led panel.
In his presentation, Shehu disclosed that out of the total proposal N20.6 billion was allocated for personnel costs, N8.9 billion for overhead expenses, and N75.5 billion—representing 71.8 percent of the entire budget was earmarked for capital projects.
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He commended the committee for its recent role in amending the RMAFC Act, noting that the reform had significantly enhanced the commission’s operational efficiency.
About RMAFC
(RMAFC) is a constitutionally established agency in Nigeria responsible for ensuring a fair, transparent, and equitable distribution of revenue among the three tiers of government: federal, state, and local. It plays a pivotal role in the nation’s economic governance and fiscal federalism. Amongst other things, RMAFC monitor accruals and disbursement of revenue from the Federation Account to federal, state, and local governments, it review and update the revenue allocation formula periodically to ensure it reflects changing national realities and promotes equity. It also advise federal, state, and local governments on fiscal efficiency and strategies for increasing revenue. It determines appropriate remuneration for political office holders, including the President, Vice President, Governors, Deputies, Ministers, Commissioners, and Legislators.
In his remarks, Committee Chairman Rep. James Faleke (APC, Lagos) affirmed that the committee had thoroughly scrutinized the proposal and was satisfied with the estimates. He assured that the panel would, through its oversight responsibilities, monitor the budget’s full implementation.
“As the House prepares to embark on its annual recess later this week, we expect, upon resumption, to see between 30 to 40 per cent implementation of this budget,” Rep. Faleke stated.
Following its adoption by the Finance Committee, the budget will be presented to the Committee of the Whole for third reading before transmission to the President for assent.
