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From Isaac Anumihe, Abuja
Following the increased rate of revenue leakages across the government revenue-generating agencies, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), is advancing plans to deploy a real-time digital revenue monitoring dashboard to strengthen oversight of revenue collections.
Speaking to newsmen on the sidelines of Stakeholders Strategic Retreat, organised in partnership with the House of Representatives Committee on Finance in Lagos, with the theme: Beyond Collection: Revenue Mobilisation for Economic Growth – Building Strategies for Efficient Resource Allocation, the chairman of the commission, Dr. Mohammed Bello Shehu, represented by the Federal Commissioner representing Oyo State, Honourable Kolade Daniel Abimbola, explained that the initiative would improve transparency, reduce leakages, enhance remittance monitoring and support more effective fiscal decision-making, while ensuring increased public revenues translate into better infrastructure and improved social services.
He called for a shift in Nigeria’s fiscal governance from an over-emphasis on revenue collection to efficient resource allocation, transparency and accountability as essential pillars for sustainable economic growth and national development.
The chairman described the retreat as a strategic platform for reviewing Nigeria’s evolving fiscal landscape and developing practical solutions to strengthen domestic revenue mobilisation and improve resource allocation across all tiers of government.
He noted that while Nigeria has made significant progress in expanding non-oil revenue through reforms, institutional strengthening and digitisation, more efforts are required to improve compliance, eliminate leakages and enhance institutional collaboration.
According to him, sustainable development depends not only on generating more revenue but also on ensuring that public resources 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.
He reaffirmed RMAFC’s constitutional responsibility to monitor accruals into and disbursements from the Federation Account, review the Revenue Allocation Formula and advise government on fiscal efficiency. He stressed that stronger collaboration among fiscal institutions, the legislature, sub-national governments and the private sector, supported by emerging technologies such as Artificial Intelligence, data analytics and digital monitoring systems, would improve transparency, reduce leakages and strengthen evidence-based fiscal decision-making.
Declaring the retreat open on behalf of the Chairman, Abimbola expressed confidence that the engagement would produce practical recommendations capable of strengthening Nigeria’s fiscal governance framework and supporting the country’s long-term economic development.
Also, the Chairman of the House of Representatives Committee on Finance, Honourable James Abiodun Faleke, commended RMAFC for convening the retreat and described the initiative as one that aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
He emphasised that increased revenue would only make meaningful impact when 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 produce practical recommendations that would strengthen legislative oversight, improve fiscal management and ensure that public resources deliver measurable value to Nigerians.
In her goodwill message, Federal Commissioner representing Abia State, Honourable Linda Nkechi Oti, described the retreat as timely and urged participants to work collaboratively towards producing practical recommendations that would strengthen Nigeria’s fiscal governance and economic development.
The retreat featured technical sessions and panel discussions on strengthening domestic revenue mobilisation, enhancing resource allocation frameworks, promoting fiscal sustainability and leveraging technology to improve transparency and accountability in public financial management.
In a statement, Head, Information and Public Relations Unit, Maryam Umar Yusuf said that 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.
