•••AS OSINBAJO JOINS THE MEETING VIRTUALLY
President Muhammadu Buhari, on Wednesday, sworn in the chairman of Revenue Mobilization Allocation and Fiscal Commission (RMAFC), Mohammed Bello, at the Council Chambers of the State House.
This was done before the commencement of the Federal Executive Council meeting presided over by the President while Vice president, Yemi Osibanjo joined via virtual.
The meeting, which began at 10 am, had in attendance, the Secretary to Government of the Federation, Boss Mustapha, and Chief of Staff to the President, Professor Ibrahim Gambari.
Others physically present were the National Security Adviser, Maj. Gen. Babagana Mungonu (retd), Ministers of Information and Culture, Lai Mohammed, Finance, Budget, and National Planning, Zainab Ahmed, and Minister for Justice, Abubakar Malami.
Also in attendance were Minister for Mines and Steel Development, Olamilekan Adegbite, Niger Delta, Umana Umana, Power, Abubakar Aliyu, Sports, Sunday Dare, Water Resources, Suliaman Adamu, Science and Technology, and Olorunibe Mamora.
Others were Ministers of Water Resources, Federal Capital Territory, Mohammed Bello, Works and Housing, Babatunde Fashola, Agriculture, Mohammed Abubakar, Aviation, Sirika, Mines and Steel Development, Olamilekan Adegbite, and Minister of State Education, Goodluck Opia.
Head of Service of the Federation, Folashade Yemi-Esan, and other ministers attended the meeting virtually from their various offices in Abuja.
The RAMFC chairman, while addressing the State House Correspondents after the swearing-in ceremony, admitted that the task ahead is challenging and, assured that the commission would assist the Buhari administration to get more revenue for the Federation and block the leakages.
He vowed to implement the constitutional responsibility of the Commission, which includes monitoring accruals to the Federation Account and disbursement.
According to him, his regime will implement the monetization policy by taking care of the salaries of political office holders, and judicial officers, as enshrined in the Constitution.
According to him, these things have not been reviewed since 2008 (29 years), which he said has generated much agitation.
“The task is challenging. We all know the situation that Nigeria is, or even globally when you look at contemporary African countries like South Africa, Ethiopia, Ghana, Egypt, and the economic issues that are facing including Nigeria
“We had the COVID-19, we had a recession, we now have the war (Russian) with Ukraine, which has affected many countries and revenues are down all over
“So our task, as revenue mobilization is how we can assist Mr. President to get more revenue for the Federation, block leakages, looking at the constitutional responsibility of the Commission, which of course are, monitoring of accruals to the Federation account and disbursement, and also monetization, taking care of the salaries of political office holders, and judicial officers, as enshrined in the Constitution that had not been reviewed since 2008. And I think there is agitation for that
“And also, from time to time, come up with a new revenue allocation formula, which the commission successfully did, sometimes I think, in February this year, and we have submitted our report to Mr. President.
“What he stated at that time was that he was waiting to see what the National Assembly will do in terms of looking at concurrent the list and exclusive list and constitutional amendment.
“If he’s satisfied with what the National Assembly does, he will forward a recommendation and make it an Act so that it becomes a law.
“Revenue allocation formula has not been touched for about 29 years, the Constitution says after a period, it can be reviewed, looking at the circumstances of the country, you know, more states have been created.
“And also our other responsibility, like monitoring of Central Bank of Nigeria, Ministry of Finance, Customs, Nigerian National Petroleum Company Limited (NNPCL), those are huge task fa or the commission.
“And of course, don’t forget that revenue mobilization is also a statutorily member in the Joint Tax Board, local government joint account, ecological fund, and Niger, Delta Development Commission (NDDC).
“Our task is how we can get more revenue for Mr. President. I know there is a lot of debate on whether there is an operating san surplus, some o agencies of government will claim that what they are getting is surplus of a revenue.
“Revenue is revenue as far as the commission is concerned. So my task is to get our members to respond to the task that Mr. President gave them in 2019, when he sore in the new board that try as much tries possible to get more revenue and strengthen your monitoring mechanism.
That is what we are going to do with all the stakeholders Federal Inland Revenue Service (FIRS) and Nigerian National Petroleum Company Limited (NNPCL), Federal Minthe history of Finance, every revenue generating agency, we have to collaborate and corroborate to be able to assist Mr. President to get more venue before he leaves office.
“This is a task that should be done by every meaningful member of the commission,” Bello said.
He assured the president that as he assumes duty, they will assist the government to generate revenue.
“Well, I can assure him that the commission, as one of the 14 constitutional Commissions, will do whatever it takes to assist him to look for more revenues before he leaves office. And also we will maintain our independence like it had been enshrined in the Constitution.“ Bello added.
