National Economy
Monday, September 8, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Business

Federal Gov’t Begins Review Of Revenue Allocation Formula

by Mark Itsibor
3 weeks ago
in Business, Budget
Reading Time: 2 mins read
Revenue,FG
Share on FacebookShare on TwitterShare on Telegram

The Federal Government has officially commenced the process of reviewing the nation’s revenue allocation formula to meet current realities.

Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mohammed Bello Shehu announced the commencement of the review process at a press conference at Yar’Adua Centre in Abuja on Monday.

There are indication that the new formula would give more funds to the states of the federation.

Sources in the commission disclosed that government was planning to increase total allocation to the states to between 30 and 40% from the current formula which allocates 52.68%, 26.72% and 20.60% to the Federal, State and Local Governments, respectively.

You May Like

ERA Chides NUPENG, NLC Over Strike Threat

Stop Proposed Salary Increase For Politicians, SERAP Tells Court

Stakeholders at the briefing urged the government to push more resources to the sub-national, especially for infrastructure projects, including provision of electricity.

The Federal Government is already relinquishing 5% of its tax revenue to the states as contained in the recently signed national tax laws.

The RMAFC chairman said the aim of the review was to produce a fair, just, and equitable revenue-sharing formula that reflects the current responsibilities, needs, and capacities of the three tiers of government — Federal, State, and Local Governments —in line with the constitutional roles.

Dr Shehu said the Commission will carefully assess the needs, service delivery obligations, fiscal performance, and developmental disparities.

“Let me state clearly that this review will be inclusive, data-driven, and transparent. It will involve broad-based consultations with critical stakeholders, including the presidency, national assembly, state governors, ALGON, the judiciary, MDAs, civil society organisations, traditional rulers, the organised private sector, and development partners,” he stated.

The last review of the Revenue Allocation Formula was carried out in 1992; however, there were several executive orders from May 2002 to date to modify the formula to reflect emerging socioeconmic realities.

The Commission restated its commitment to integrating cutting-edge research, empirical data, and international
practices in its analysis.

Tags: FGRevenue
ShareTweetShare
Previous Post

10 Die, 29 Missing In Sokoto Boat Mishap

Next Post

Enforce Building Codes, Root Out Corruption, Stakeholders Tell Govt

ANOTHER GOOD READ

ERA Chides NUPENG, NLC Over Strike Threat
Business

ERA Chides NUPENG, NLC Over Strike Threat

12 hours ago
Stop Proposed Salary Increase For Politicians, SERAP Tells Court
Business

Stop Proposed Salary Increase For Politicians, SERAP Tells Court

12 hours ago
Federal Gov’t Approves ₦142bn For Bus Terminals In 6 Geopolitical Zones
Business

FG Digitises Basic Health Care Fund To Curb Leakages

4 days ago
Imperative Of Peace For Nigeria’s Economic Growth
Economy

Nigeria, Big Tech In Talks On Hyperscale Data Centres

4 days ago
FCT, Lagos, Rivers Generate 70% Of Air Transport GDP
Business

EFCC Seeks Tighter Airport Surveillance Over Illicit Financial Flows

4 days ago
Federal Gov’t Approves ₦142bn For Bus Terminals In 6 Geopolitical Zones
Business

FG Admits Nigerian Embassies Face Unpaid Rents, Salary Arrears

5 days ago
Next Post
Enforce Building Codes, Root Out Corruption, Stakeholders Tell Govt

Enforce Building Codes, Root Out Corruption, Stakeholders Tell Govt

Most Recent

ERA Chides NUPENG, NLC Over Strike Threat

ERA Chides NUPENG, NLC Over Strike Threat

September 7, 2025
JUST-IN: Federal Government Calls Emergency Meeting To Avert NUPENG Strike

JUST-IN: Federal Government Calls Emergency Meeting To Avert NUPENG Strike

September 7, 2025
Stop Proposed Salary Increase For Politicians, SERAP Tells Court

Stop Proposed Salary Increase For Politicians, SERAP Tells Court

September 7, 2025
IFC Warns Africa Risks Missing AI Boom Without Action

IFC Warns Africa Risks Missing AI Boom Without Action

September 4, 2025

FCTA Revokes All Park Licenses In Abuja For Review

September 4, 2025
Federal Gov’t Approves ₦142bn For Bus Terminals In 6 Geopolitical Zones

FG Digitises Basic Health Care Fund To Curb Leakages

September 4, 2025
Imperative Of Peace For Nigeria’s Economic Growth

Nigeria, Big Tech In Talks On Hyperscale Data Centres

September 4, 2025
FCT, Lagos, Rivers Generate 70% Of Air Transport GDP

EFCC Seeks Tighter Airport Surveillance Over Illicit Financial Flows

September 4, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy