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From Isaac Anumihe, Abuja
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has unveiled plans to deploy a real-time digital revenue monitoring dashboard as part of efforts to curb revenue leakages and improve transparency in the collection and remittance of government revenues.
The commission said the initiative is designed to strengthen oversight of revenue-generating agencies, improve monitoring of remittances and support better fiscal decision-making, with the ultimate goal of ensuring that increased public revenues translate into improved infrastructure and better social services for Nigerians.
Speaking on the sidelines of a Stakeholders Strategic Retreat organised in partnership with the House of Representatives Committee on Finance in Lagos, the Chairman of RMAFC, Dr. Mohammed Bello Shehu, represented by the Federal Commissioner representing Oyo State, Hon. Kolade Daniel Abimbola, said Nigeria must shift its fiscal focus beyond revenue generation to efficient allocation and prudent management of public resources.
The retreat, themed “Beyond Collection: Revenue Mobilisation for Economic Growth – Building Strategies for Efficient Resource Allocation,” brought together policymakers and key stakeholders to discuss ways of strengthening the country’s fiscal framework.
Abimbola said the planned digital monitoring platform would improve transparency, reduce revenue leakages, enhance remittance tracking and promote accountability across government revenue-generating agencies.
He described the retreat as a strategic forum for reviewing Nigeria’s changing fiscal landscape and developing practical solutions to strengthen domestic revenue mobilisation and improve resource allocation across the three tiers of government.
According to him, although Nigeria has made notable progress in expanding non-oil revenue through reforms, institutional strengthening and digitalisation, there is still a need to improve compliance, eliminate leakages and deepen collaboration among key institutions.
He stressed that sustainable economic development depends not only on raising more revenue but also on ensuring that public funds are efficiently utilised for the benefit of citizens.
“The conversation must now move beyond simply collecting revenue. Every naira mobilised must be efficiently allocated, prudently managed, transparently accounted for and strategically invested in sectors that stimulate economic growth, create jobs and improve the welfare of Nigerians. That is the pathway to sustainable national development,” Abimbola said.
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He reiterated RMAFC’s constitutional responsibility to monitor accruals into and disbursements from the Federation Account, review the Revenue Allocation Formula and advise the government on measures that improve fiscal efficiency.
The commission, he added, believes stronger collaboration among fiscal institutions, the National Assembly, state governments and the private sector, backed by emerging technologies such as Artificial Intelligence, data analytics and digital monitoring systems, will significantly reduce leakages, improve transparency and promote evidence-based fiscal decision-making.
Abimbola, who declared the retreat open on behalf of the commission’s chairman, expressed optimism that the meeting would produce practical recommendations capable of strengthening Nigeria’s fiscal governance framework and supporting long-term economic growth.
Also speaking, Chairman of the House of Representatives Committee on Finance, Hon. James Abiodun Faleke, praised RMAFC for organising the retreat, describing it as consistent with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Faleke said generating more revenue alone would not guarantee development unless it is accompanied by prudent allocation, effective oversight and fiscal discipline.
“Revenue, on its own, does not build roads, equip hospitals or improve the lives of our people. It is prudent allocation, effective oversight and fiscal discipline that transform public resources into tangible development outcomes. Our responsibility is to ensure that every naira works for the Nigerian people,” Faleke stated.
He urged participants to come up with practical recommendations that would strengthen legislative oversight, improve fiscal management and ensure that public resources deliver measurable value to Nigerians.
In her goodwill message, the Federal Commissioner representing Abia State, Hon. Linda Nkechi Oti, described the retreat as timely, urging stakeholders to work together in producing actionable recommendations that would strengthen Nigeria’s fiscal governance architecture and drive economic development.
The retreat featured technical sessions and panel discussions focusing on domestic revenue mobilisation, improved resource allocation frameworks, fiscal sustainability and the deployment of technology to enhance transparency and accountability in public financial management.
The retreat is expected to produce actionable recommendations that will strengthen Nigeria’s revenue mobilisation framework, improve fiscal discipline, enhance resource allocation and support sustainable economic growth.
